The ceremony of the memorandum of understanding between the National Bank of Kazakhstan, the CityUK (one of the oldest associations in Great Britain) and the European Bank for Reconstruction and Development (EBRD) has taken place in London.
The memorandum has been signed in the presence of the President of the Republic of Kazakhstan Nursultan Nazarbayev and the Prime minister of Great Britain David Cameron during the second meeting of the Kazakhstan-British intergovernmental commission on trade and economic, scientific and technical as well as cultural cooperation.
The cooperation with such authoritative financial structures will take place within the International Financial Centre Astana. One of the priority issues discussed during the ceremony was the promotion of the IFC Astana among financial and business circles of Great Britain as a financial hub, as foreign investment attracting center for the entire Central Asian region: assistance in development and exchange of experience, knowledge in the field of Islamic banking, capital markets, financial services regulation, arbitration, court systems based on common law.
A formation of the working groups is among the short-term plans of the parties. For reference
TheCityUK is the UK-based financial and related professional services industry. Its activity is related to successful and long-term experience of financial center London City.
The EBRD was founded in 1991 right after the Cold War ended in order to build a new era in Central and East Europe. It is the international financial institution established to support the projects of different countries including Kazakhstan in financial sector, SMEs, infrastructure development.