Regulatory Alerts2022-09-26 | https://aifc.kz/legal-framework/aifc-payment-system-settlement-finality-regulations/AIFC Payment System Settlement Finality Regulations
The Astana International Financial Centre (AIFC) issued these regulations to designate specific payment systems and ensure the finality of settlements and collateral security within its jurisdiction. The Authority for Financial Services (AFSA) is empowered to evaluate applications, enforce payment system rules, and manage the variation or revocation of designations to maintain financial stability. The framework legally protects settlements from reversal during insolvency proceedings and mandates information sharing to mitigate systemic risk.
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