Astana International Exchange (AIX, the Exchange) and Qatar Stock Exchange (QSE) signed a Memorandum of Understanding (MOU) and agreed to establish cooperation in mutually beneficial areas. Under the agreement, both parties will facilitate information and knowledge exchange regarding market operations within the respective legal and technical framework, joint research, and educational initiative.
Renat Bekturov, CEO of AIX, said:“Kazakhstan is happy to establish bilateral relations with our peer in Qatar. We are looking forward to contributing to this partnership and forming a joint force in promoting capital market development. The following MOU not only opens a new chapter towards developing diversified and knowledge-driven collaboration between AIX and QSE but also paves the way for cross-border opportunities for investors from Kazakhstan and Qatar.”
Tamim Al-Kawari, CEO of QSE, noted:“Our long-standing relationship with Kazakhstan and the AIX has been further enhanced by the signing of this MoU. We look forward to all that this collaboration can bring to the development of both our markets. Our aim is, and always will be, maintaining the integrity of the capital markets and providing the products and services available to investors, both domestic and international. This relationship will support that aim.”
The agreement lays a solid foundation for the cooperation between emerging economies, particularly in capital markets. Via QSE, one of the hubs for Islamic Sukuk in the world, AIX is to bolster its involvement in developing and promoting Islamic finance through sharing information and expertise pertaining to its activities.
AIX listed its first Islamic finance compliant Sukuk issued by the Qatar International Islamic Bank (QIIB) in March 2020 and continues to express a particular interest in Sharia-compliant products.
AIX was formed in 2017 within the Astana International Financial Centre development framework. AIX shareholders are AIFC, Goldman Sachs, the Shanghai stock exchange, the Silk Road Fund, and NASDAQ, which also provides the AIX trading platform. The exchange operates within a regulatory environment based on the principles of English Law, thus providing a reliable investment environment. The mission of AIX is to develop an active capital market in Kazakhstan and the region by providing clear and favorable conditions for attracting financing to private and public businesses. AIX develops special segments for mining companies as well as infrastructure projects under the Belt and Road initiative. More details:www.aix.kz
The Astana International Financial Centre The Astana International Financial Centre (AIFC) is an independent jurisdiction that started operations in 2018. In accordance with the Development Strategy until 2025, the key focus of the AIFC is to consolidate as a universal platform connecting the countries of the EAEU, Central Asia and the Caucasus. https://aifc.kz/
QSE was established in 1995 and fully started its manual operations in 1997. The launching of Qatar Stock Exchange (QSE) has represented a significant milestone in the history of Qatar’s capital markets. Since inception, QSE has been the core of the ongoing development of Qatar’s capital markets. The QSE achieved remarkable progress as a platform for economic diversification and sustainable development. These achievements are evidenced by the trading performance and infrastructure improvements, social responsibility activities and the promotion of investment awareness, sound disclosure and IR practices, and the improvement of services and investment products. QSE’S Vision & Mission: www.qe.com.qa