"Practical Aspects of AIFC Law" legal conference was held by the Astana International Financial Centre (hereinafter - AIFC). The event was attended by representatives of leading international financial and investment companies, as well as world-famous law firms such as Baker & McKenzie, White & Case, HFW Law Firm Curtis.
The main purpose of the conference was to create a platform where the professional community will be able to discuss the most relevant topics related to the special legal regime of the AIFC, as well as to acquaint its participants with the activities of the financial centre.
In the welcoming speech of the AIFC Governor K. Kelimbetov it was noted that the legal regime of the AIFC is based on the principles of English common law and standards of the world’s leading financial centres.
"A distinctive feature of English law is the use of a flexible and transparent approach to dispute resolution, as well as the primacy of protecting investors’ rights and interests. The positive aspects of the English common law are familiar to investors all over the world, indicating the presence of specific guarantees of protection of their rights and interests. I am sure that the application of the principles and norms of law of England and Wales will contribute to increasing interest in the activities of the AIFC, raising the number of registered companies and the development of entrepreneurship at the site of the financial centre," K. Kelimbetov said.
The moderator of the panel session was Sheikh Bilal Khan, the Expert of the AIFC Administration, the speakers were Simon Cox, a member of the legal Advisory Board of AIFC, Tim Bennett, Chairman of the Exchange Board of AIFC and Nursultan Serikbay, chief of the Bureau of Continuing Professional Development, AIFC.
It should be noted that AIFC court acts on the basis of the AIFC, that is the main institution for dispute resolution between the participants of the financial centre, as well as the International Arbitration Centre, which will consider disputes, if the parties have an arbitration agreement.