AFSA Calls for Evidence on Further Enhancement of AIFC Asset Management Framework

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AFSA calls for evidence on further enhancement of the AIFC Asset Management Framework

The Astana Financial Services Authority (AFSA) has launched its first Call for Evidence to gather stakeholder feedback on further enhancement of the AIFC Asset Management Framework.

Asset and fund management remains a strategic priority for AIFC and is one of its fastest-growing sectors. Assets under management have increased from USD 115 million in 2021 to over USD 3 billion by the end of the third quarter of 2025, alongside significant growth in the number and diversity of funds and asset managers operating in the AIFC. This growth has been supported by AFSA’s market-driven approach to regulatory development and close engagement with industry participants.

Building on these achievements and in further support of the continued improvement of the AIFC asset management regulatory regime, AFSA is issuing the Call for Evidence as a new policy tool to assess market conditions, identify potential regulatory gaps, test assumptions, and evaluate the effectiveness of the existing framework, prior to formulating policy proposals for its further enhancement.

The preliminary areas for discussion outlined in the Call for Evidence were developed based on ongoing supervisory engagement and market feedback. The scope of the discussion covers the operation of Specialist Funds, emerging fund structures and approaches, as well as practical issues affecting fund operations and investor protection. AFSA also welcomes broader feedback on any aspects of the regime not specifically addressed in the Call for Evidence.

The Call for Evidence is open for public comment at link until 28 February 2026. Submissions should be sent to [email protected].

The feedback received will support AFSA’s assessment of the current asset management regulatory regime and the development of proposals for its further enhancement, which AFSA plans to consult on through a separate public consultation later in the year.

Reference:

The Astana Financial Services Authority (AFSA) is the independent regulator of the Astana International Financial Centre (AIFC), which is established in accordance with the Constitutional Law of the Republic of Kazakhstan “On the Astana International Financial Centre” for the purposes of regulating financial services and related activities in the AIFC. AFSA administers the AIFC Regulations and Rules and is responsible for the authorisation, registration, recognition and supervision of financial firms and market institutions in the AIFC. afsa.kz

The Astana International Financial Centre (AIFC) is an independent jurisdiction where investors and business meet emerging opportunities of Kazakhstan and Central Asia in a transparent and sustainable environment backed by the principles of English Common Law. aifc.kz

Public Relations and Communications Division of AFSA, [email protected]