Revealing the Achievements and Future Plans of Astana International Financial Centre Court and IAC
The Astana International Financial Centre (AIFC) Court recently hosted a panel session on June 12, featuring AIFC Court Chief Justice, The Lord Burnett of Maldon, and International Arbitration Centre (IAC) Chairman, Thomas Krümmel. The discussion centered around their visions for the AIFC Court and IAC, emphasizing the center’s crucial role in attracting investment to Kazakhstan.
Christopher Campbell-Holt, Registrar and Chief Executive at the AIFC Court and IAC, moderated the discussion, focusing on the rules and regulations governing the operations of the AIFC Court and IAC. Campbell-Holt highlighted that judges appointed to the AIFC Court by the Kazakh President must affirm their positions in accordance with the AIFC Court Regulations.
During the session, The Lord Burnett of Maldon emphasized the importance of personal judicial independence, stating that judges must make decisions without fear or favor, ensuring fairness and impartiality in the court.
The panel participants also shared their experiences and impressions about life in Kazakhstan, with Krümmel expressing admiration for the Kazakh people and their history.
Since commencing operations on Jan. 1, 2018, the AIFC Court and IAC have successfully completed and enforced over 2,600 cases to the satisfaction of all parties involved. Investors from 28 countries have utilized the AIFC Court to resolve commercial disputes, with approximately 618 lawyers from 30 countries registered with rights of audience.
The AIFC Court has expanded its presence to countries within Eurasia, including Armenia, Azerbaijan, and Uzbekistan, in addition to having premises in Astana and Almaty. The AIFC Court and IAC have gained recognition from global investors as the preferred international dispute resolution institutions for commercial disputes in Eurasia, attracting investment decisions in Kazakhstan.
Overall, the AIFC Court and IAC continue to play a significant role in promoting a favorable business environment in Kazakhstan and attracting investment from a diverse range of international investors.
