Tashkent, Uzbekistan (UzDaily.com) —  Vyacheslav Pak, First Deputy Director of the National Agency for Prospective Projects (NAPP), and Nurkhat Kushimov, General Director of the Astana International Financial Centre (AIFC) Financial Services Regulatory Committee, have signed a roadmap for joint cooperation initiatives.

According to the document, the parties will collaborate in the following areas:

- Sharing experiences in the application of special legal regimes ("regulatory sandboxes") and testing innovative solutions to enhance the efficiency of the securities market, insurance, and crypto-asset circulation.

- Providing simplified mutual access in the securities market (asset management, brokerage services) and the crypto-asset market.

- Organizing joint research and developing innovative approaches.

Vyacheslav Pak highlighted that regulatory interaction within a multilateral agenda is a crucial aspect aligning with agreements at the level of heads of state. Collaborative efforts will not only facilitate the exchange of experience and knowledge but also lay the foundation for accelerated development of financial markets. The signed roadmap is a step towards expanding multilateral cooperation, opening new horizons for innovation and sustainable growth in the capital markets and crypto-asset circulation.

NAPP and AIFC will also jointly explore opportunities for issuing and placing stocks, depositary receipts, debt securities, including "green" bonds and sukuk (Islamic securities), as well as conducting IPOs of Uzbek companies through the AIFC platform.

Additionally, training events will be organized to exchange experiences in the areas of legal regulation and development of the capital market, insurance market, and crypto-asset market.

The Financial Services Regulatory Committee is an independent regulator of the AIFC, established under the Constitutional Law of the Republic of Kazakhstan "On the Astana International Financial Centre" to regulate financial services and related activities within the AIFC.

The Committee’s goal is to support business by ensuring the safety and reliability of the AIFC financial system, as well as fairness, efficiency, and transparency in financial markets. Its regulatory scope includes financial and market services in banking, insurance, capital markets, Islamic finance, financial technologies, and auxiliary services.