The Astana International Financial Centre (AIFC) Management Council has appointed Lady Barbara Judge CBE as Chairman of the Board of Directors of the Astana Financial Services Authority (AFSA), Kazinform has learnt from the AIFC's press service.
Lady Judge, a commercial lawyer, has a broad and successful international career as a senior executive, chairman and non-executive director in both the private and public sectors, and across various industries including energy, infrastructure, manufacturing, retailing and the financial services industry.
She is also the National Chairman of the UK Institute of Directors, the UK Business Ambassador and recognised expert on corporate governance. In addition, she is a Chairman of Cifas, the UK membership organisation specialising in the prevention of fraud and financial crime. Previously, she was a Commissioner of the US Securities and Exchange Commission and Deputy Chairman of the UK Financial Reporting Council.
On her appointment as Chairman of the AFSA Board of Directors, Lady Judge commented that: "It is a pleasure and great honour to be appointed for this role. I will strive to ensure the efficiency of the AFSA Board of Directors and adherence of the AFSA to the international standards and best practices and to make input into the development of the AIFC."
Kairat Kelimbetov, Governor of the AIFC, noted that "under the leadership of Lady Judge and with help and support of the other Board members, the AFSA will achieve significant results and develop into a world-class financial regulator".
AIFC. The AIFC was established on the initiative of the President of the Republic of Kazakhstan Nursultan Nazarbayev. In December 2015 President Nazarbayev approved the Constitutional Statute "On the Astana International Financial Centre" (AIFC). The aim of the AIFC is to establish a leading international centre of financial services.
The objectives of the AIFC are to attract investment into the economy through the establishment of an attractive environment for investment in the financial services, develop local capital markets, ensuring their integration with the international capital markets.
The Astana Financial Services Authority (AFSA). AFSA is a legal entity and statutory body of the Republic of Kazakhstan, and is established in accordance with the Constitutional Law of the Republic of Kazakhstan "On the Astana International Financial Centre". AFSA is a regulator of both financial and non-financial services activities. It regulates Centre Participants carrying out financial and ancillary services and capital markets activities within the territory of AIFC. AFSA is also the regulator of companies registered by the AFSA that carry out non-financial services activities.
The governing body of the AFSA is the Board of Directors headed by its Chairman. The AFSA Board of Directors oversees the Executive Body, carries out overall management, identifies strategic directions of the AFSA, adopts AFSA's regulatory acts and within the AFSA's competence exercises other powers established by resolutions of the AIFC Management Council and/or the AIFC Governor.