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  • Astana Financial Services Authority and Central Bank of Armenia signed MoU
10 October, 2019 12:11

Astana Financial Services Authority and Central Bank of Armenia signed MoU

The Astana Financial Services Authority (AFSA) has entered into a Memorandum of Understanding with the Central Bank of Armenia (CBA) to enhance cooperation in financial services supervision. The signing ceremony was held in Yerevan, AIFC reports.

Astana Financial Services Authority and Central Bank of Armenia signed MoU | Strategy2050.kz

Under the agreement the Parties will cooperate in supervision and regulation of banking, insurance and capital markets, in particular against money laundering, enforcement, authorisation, supervision, financial recovery etc.

The MoU was signed by Mr Vakhtang Abrahamyan, the Vice-Governor of the CBA, and Mr Mukhtar Bubeyev, the Acting Chief Executive Officer of the AFSA. The Parties agreed to promote cooperation in supervision of cross-border establishments in their respective jurisdictions, facilitate supervisory information sharing and provide mutual assistance between the AFSA and the CBA. 

“By signing this memorandum we made an important step towards developing relationships between our institutions. The CBA is looking forward for a fruitful cooperation and mutual assistance in diverse world of financial supervision and regulation, where both AFSA and CBA have rich experience to share”, Mr Vakhtang Abrahamyan welcomed the signing of the MoU.

According to Mr Bubeyev, they are delighted to sign this memorandum which will enhance cooperation between the AFSA and CBA on issues of common interest, to strengthen exchange of information and supervision in the banking, insurance and capital market areas within both jurisdictions.

The Memorandum establishes the conditions necessary to provide mutual assistance and facilitate supervisory information sharing between the AFSA and the CBA.

chronicle 2050

SMEs will make up at least 50% of the GDP

abour productivity will reach up to $126 000 and 3 to 6 y.o. kids will have 100% access to pre-school education in Kazakhstan.

Kazakhstan will fully satisfy its own market of POL in compliance with the new environmental standards

The share of non-primary exports in total exports will double and triple by 2040

Transition to Latin graphics will commence

95% of the population will speak Kazakh

15% of the area under cultivation will make use of water-saving technologies.

The issue of providing water for irrigation will be resolve

GDP per capita will stand at $60 000

The urban population will represent 70% of the total population in Kazakhstan