Kazakhstan and Saudi Arabia ready to expand bilateral ties in the field of finance and investment

On March 8-9, 2023, with the support of the Embassy of Kazakhstan in Saudi Arabia, Mr. Renat Bekturov, the Governor of the Astana International Financial Center (AIFC), paid a visit to Riyadh.

During the visit, the Kazakh delegation held meetings with the leadership and representatives of the Ministry of Investment of Saudi Arabia, the Central Bank (SAMA), the Capital Market Authority (CMA), the Saudi Exchange (Tadawul), as well as leading Saudi companies such as ACWA Power and Ajlan & Bros. Holding.

During the talks, the parties discussed ways to further expand cooperation between the two countries in trade, economic, financial, and investment activities, as well as in fintech and Islamic finance.

Particular attention was paid to implementing the agreements reached during the official visit of the President of the Republic of Kazakhstan Kassym-Jomart Tokayev, to Saudi Arabia in July 2022.

In addition, the Kazakh side informed Saudi counterparts on the activities of the AIFC aimed at creating an attractive environment for investing in financial services, developing the securities market, and ensuring integration with international capital markets.

In this regard, the Kazakh side invited Saudi financial institutions and companies to use the AIFC platform as a regional center for business and finance, linking the economies of the countries of Central Asia, the Caucasus, the EAEU, Western China, Mongolia, the Middle East, and Europe.

The Saudi side was invited to Kazakhstan to participate in the Astana International Forum and Astana Finance Days, which will be held on June 8-9, 2023, to continue the established dialogue.