On March 26-27, the delegation of the National Bank of Kazakhstan and the Agency of Kazakhstan for Regulation and Development of Financial Market (ARDFM) made a visit to the United Arab Emirates (UAE).

During the visit, meetings were held with H.E. Khaled Mohamed Balama, Governor of the Central Bank of the UAE; H.E. Waleed Saeed Abdul Salam Al Awadhi, CEO of the UAE Securities and Commodities Authority; H.E. Ghannam Butti Al Mazrouei, Chairman of the Abu Dhabi Securities Exchange; management of the Mubadala sovereign investment fund, administration of the UAE international financial centers, banking and fintech companies.

In the course of the meeting with the Central Bank of the UAE parties exchanged views on macroeconomic conditions, as well as experiences in financial flows management and digital financial assets regulation. Following the meeting, a Memorandum of Understanding was signed aimed at exchanging best practices in the development of financial markets and FinTech, ensuring cybersecurity, and promoting central bank digital currencies.

At meetings with the UAE Securities and Commodities Authority parties reviewed the results of trading on the Kazakhstan Stock Exchange (KASE) and the «Astana» International Financial Center (AIFC) through the Tabadul digital exchange trading platform (UAE), as well as cooperation in developing the stock market infrastructure. An exchange of experiences on the digital financial assets regulation and the development of blockchain technologies took place with the management of the Virtual Assets Regulatory Authority of the UAE.

In cooperation with the AIFC management, a meeting was held with the administrations of Abu Dhabi Global Market (ADGM) and Dubai Financial Centre Authority (DFSA) to discuss approaches to the regulation of the UAE's international financial centres, as well as the conduct of transactions and mutual settlements within the jurisdictions of these centres.  

Following the meeting with the Abu Dhabi Securities Exchange, the parties noted the importance of developing infrastructure in the capital markets and increasing the liquidity of trading products in the exchange market.

In addition, meetings were held with the Mubadala investment holding and First Abu Dhabi Bank on the prospects of expanding investment partnership with Kazakhstan, as well as with regional offices of leading international companies BCG and Microsoft on the creation of infrastructure for the proactive development of AI in the financial market of Kazakhstan.  

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