Today Secretary of State of the Republic of Kazakhstan Gulshara Abdykalikova and the Governor of the Astana International Financial Centre Kairat Kelimbetov met with the AIFC professional development programme participants. This pilot programme was designed for the AIFC employees within the framework of the Bolashak Presidential international scholarship.
According to the Secretary of State G.Abdyhalikova, presidential decrees on the establishment of the AIFC has been signed in the framework of 100 specific steps national plan and is expected to become the core of the financial infrastructure of Kazakhstan. Therefore, it is crucial to prepare professionals that will attract investors in the financial center, and manage assets.
According to Kairat Kelimbetov, Governor of the AIFC, the quality of human resources of the AIFC is a key competitive advantage, therefore, to attract talented and professional managers and train Kazakhstani specialists in the world’s best educational centers is one of the significant tasks of the AIFC.
By the decision of the Republican Commission on abroad staff preparation on March 31, 2016 a special quota was created for AIFC employees in the framework of Bolashak international scholarship of the President of the Republic of Kazakhstan.
Currently, there are two programmes of professional training in the US and UK. Internship duration is a year: since October 17, 2016 until October 13, 2017. The programme consists of two components: the academic and the practical part.
As a result of competitive selection, which took place from June 13 to 29 July 2016, by the decision of the Republican Commission on abroad staff training of August 15, 2016 fifteen candidates obtained scholarships. Eleven fellows will have trainings in the United States and four – in the UK.
The UK: Based on the Memorandum of Cooperation between the AIFC, ICAEW (The Institute of Chartered Accountants in England and Wales), and the Corporation TheCityUK (London City), the internship programme was designed in specialized financial institutions and the financial centre of London. The practical module is a hands-on practice to gain experience in the international financial centres and institutions such as TheCityUK, LondonStock Exchange, Bank of England, EBRD, Deloitte, EY, PwC, KPMG, MorganStanley, GoldmanSachs, Moody’s, HSBC, Barclays.
In addition, participants will have the opportunity to take part in events organized in such areas as investment and asset management, high-tech start-ups, clean energy, international law, trade and others. It is an excellent opportunity for professional communication and understanding the global aspects of the industry.
The fellows have to submit the report, research and a series of recommendations on improving the AIFC activity upon completion of the programme.
The U.S. The academic module lasts 4 months and includes courses of finance and management subjects, leadership and negotiation, investment, construction and development of financial centres and organizations, law and information management at Harvard and New York universities. The practical module’s duration is 7 months; since March until September 2017. The programme participants will visit financial institutions such as NYSE Visit, JP MorganChase, NY FederalReserve, Carlyle Group, FINRA, US Department of Finance and Commerce, NY SupremeCourt, and DeutscheBank. Upon completion of the programme fellows also have to submit abovementioned papers.
As the result of these two programmes a strategic personnel reserve will be formed.
AIFC. In December 2015 President of the Republic of Kazakhstan Nursultan Nazarbayev signed the Constitutional law “On the Astana International Financial Centre” (AIFC). The aim of the AIFC is to form a leading international centre of financial services. For the first time in post-Soviet region Common law framework will be introduced in the AIFC. English shall be the official language of the AIFC.
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, and develop markets for insurance and banking services and for Islamic financing in the Republic of Kazakhstan..