Kazakh President opens AIFC Court - GulfToday

Kazakh President opens AIFC Court

Kazakh

Kassym-Jomart Tokayev speaks during the opening ceremony in Nur-Sultan.

Inayat-ur-Rahman

Nur-Sultan: A grand opening ceremony of the AIFC Court and the International Arbitration Center (IAC) building took place with the participation of the President of the Republic of Kazakhstan Kassym-Jomart Tokayev on Tuesday.

The Astana International Financial Center (AIFC) Governor Kairat Kelimbetov, the Chairman of the AIFC Court Lord Harry Kenneth Woolf, IAC Chairman Barbara Domann QC, the Chairman of the AIC and Registrar and the Chief of Staff of the Court of the AIFC and IAC Christopher Campbell-Holt also took part in the ceremony.  Kassym-Jomart Tokayev officially declared the building of the Court and the IAC open and symbolically struck a special judicial hammer.

 Kassym-Jomart Tokayev said, “Just a year ago, the First President of the Republic of Kazakhstan, Elbasy, officially launched the AIFC, and today we are opening the building of the Court and the International Arbitration Center, acting on the basis of common law, trusted by investors all over the world. The close attention to the AIFC paid by business circles of the world once again confirmed the verity of the decision of Elbasy to create a financial centre in the capital of Kazakhstan. The AIFC was created by the example and experience of the leading international financial centres and should become the flagship of the region.”

Kairat Kelimbetov explained, “Most of the world’s most successful financial centres operate in common law jurisdictions. This is due to the fact that it quickly adapts to the requirements of the market and at the same time guarantees investors fairness and impartiality in making court decisions. Thus, we want to create the best financial platform in the region and a unique investment climate.”

Lord Woolf said, “The creation of the first court of common law and the first arbitration centre of an international level is a promising achievement for the whole of Kazakhstan.”