The Astana Financial Services Authority (AFSA), Astana International Financial Centre Authority (AIFCA) and the Monetary Authority of Singapore (MAS) announced on Tuesday they have signed a tripartite Cooperation Agreement to boost FinTech ties between Singapore and Kazakhstan. The Cooperation Agreement was signed by Mukhtar Bubeyev, Acting Chief Executive Officer of the AFSA, Nurlan Kussainov, Chief Executive Officer of the AIFCA, and Sopnendu Mohanty, Chief FinTech Officer of MAS.
The trio confirmed that the agreement provides a framework for cooperation between AFSA, AIFCA, and MAS in fintech innovation, allowing the three authorities to explore joint participation in innovative projects and sharing of information on innovation in their respective markets. Speaking about the agreement, Kussainov stated:
“Fintech is one of the main activities of the AIFC and we are glad to expand our international cooperation by signing this memorandum with MAS. It will enhance cooperation on issues of common interest, strengthen exchange of information in area of fintech innovation within both jurisdictions.”
Bubeyev also commented:
“We are delighted to enter into agreement with MAS to enhance cooperation and promote innovation in financial services. We believe that it will open more opportunities for innovative companies in both jurisdictions.”
Mohanty went on to add:
“This agreement is one step towards closer collaboration between the FinTech ecosystems of Singapore and Kazakhstan. It will pave the way for FinTech firms in both countries to collaborate, capture new opportunities and grow the FinTech landscape.”