ASTANA – Astana’s eight-place rise in the Global Financial Centers Index 40 (GFCI 40) should ultimately be measured by whether growing international confidence translates into more investment, deeper capital markets and greater cross-border financial activity, Bakhtiyar Tleubekov, chairman of the Management Board of Astana International Financial Centre (AIFC Authority), told The Astana Times on Sept.
18. In the 40th edition of the Global Financial Centers Index, Kazakhstan’s capital ranked 57th among 117 financial centers worldwide, climbing eight places from 65th. Astana’s rating increased by 18 points, from 684 to 702. The city retained its leading position in Eastern Europe and Central Asia, which it has held for more than three years.
Astana was followed by Cyprus, which ranked 72nd globally, and Warsaw, which placed 78th. AIFC Governor Renat Bekturov. Photo credit: AIFC. Astana’s rise came against a 1.09% decline in the average rating of financial centers in Eastern Europe and Central Asia. It was also named among the ten financial centers survey participants expected to play a more significant role in the global financial system over the next two to three years, ranking ninth with 45 mentions.
In the separate FinTech ranking, Astana rose four places from 55th to 51st. “Astana’s eight-place rise and continued regional leadership send an important signal of growing confidence in the AIFC and Kazakhstan among the international financial community. For us, a position in the ranking is not an end in itself, but an independent assessment of the work we are consistently pursuing: improving the legal and regulatory environment, developing capital markets and financial technologies, and expanding international ties,” said AIFC Governor Renat Bekturov.
“The real measure of success is whether growing international confidence translates into more investment, deeper capital markets, more international financial institutions operating in Kazakhstan, and greater cross-border financial activity,” Tleubekov said. Bakhtiyar Tleubekov, chairman of the Management Board of Astana International Financial Centre.
Photo credit: AIFC. According to him, over the next two to three years, the priority is to reinforce the conditions that international investors value most: political and macroeconomic stability, a predictable and transparent regulatory environment, consistent application of the law, and effective protection of investor rights.
Astana and Kazakhstan also need to continue strengthening their role as a regional gateway connecting international capital with opportunities across Central Asia and the wider Eurasian region. “Kazakhstan’s geographic position and growing role in trans-Caspian transport and logistics create an opportunity to complement physical connectivity with financial connectivity,” he said.