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2018-08-14 | https://aifc.kz/legal-framework/joint-order-between-aifc-and-mof-on-aml-on-counteracting-legalisation-laundering-of-proceeds-obtained-through-criminal-means-and-financing-of-terrorism/

Joint Order between AIFC and MoF on AML and Counter-Terrorist Financing

The Astana International Financial Centre and the Ministry of Finance of Kazakhstan issued a joint order to align the supervision of AML and CFT compliance for specific AIFC participants with national legislation. The directive mandates that these entities submit transaction data to the Financial Intelligence Unit and requires the Astana Financial Services Authority to provide requested information from its systems to support monitoring efforts. Additionally, the order establishes a framework for jointly approved internal control guidelines and clarifications, with oversight vested in the heads of both regulatory bodies.

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Astana International Financial Centre 11 July 2018 No. 65 Astana Ministry of Finance of the Republic of Kazakhstan 19 July 2018 No. 678 JOINT ORDER Concerning some issues related to counteracting legalisation (laundering) of proceeds obtained through criminal means and financing of terrorism In pursuance of the Constitutional Statute of the Republic of Kazakhstan dated 7 December 2015 "On the Astana International Financial Centre” and the Law of the Republic of Kazakhstan dated 28 August 2009 “On counteracting legalisation (laundering) of proceeds obtained through criminal means and financing of terrorism” HEREBY WE ORDER:

  1. The Astana Financial Services Authority shall follow the legislation of the Republic of Kazakhstan on counteracting legalisation (laundering) of proceeds obtained through criminal means, and financing of terrorism in the course of supervision over the AIFC participants which are the entities under financial monitoring (“Relevant AIFC Participants”).
  2. The Relevant AIFC Participants shall follow the Resolution of the Government of the Republic of Kazakhstan No. 1484 dated 23 November 2012 "On Approval of the rules for submission by entities under financial monitoring of data and information on transactions subject to financial monitoring and the criteria for determining a suspicious transaction» in the course of submission of data and information on transactions, which are subject to financial monitoring, to the Committee on financial monitoring of the Ministry of Finance of the Republic of Kazakhstan (“FIU”).
  3. The Astana Financial Services Authority (“AFSA”) shall provide the information from its own information systems and resources upon a request of the FIU.
  4. The Guidelines (Requirements) applicable to the “Rules on internal control for the purposes of counteracting anti-money laundering and counter-terrorist financing” to be adopted by the Relevant AIFC Participants shall be approved by a joint act of the Ministry of Finance and the Astana International Financial Centre in accordance with the legislation of the Republic of Kazakhstan on counteracting legalisation (laundering) of proceeds obtained through criminal means and financing of terrorism.

2 5. The FIU and the AFSA shall jointly deliver and (or) develop clarifications for the Relevant AIFC Participants in relation to counteracting legalisation (laundering) of proceeds obtained through criminal means and financing of terrorism. 6. The supervision over the implementation of this joint order shall be vested with Chairman of the FIU and the CEO of the AFSA. 7. This joint order shall come into force on the day of its signing by the last of the signers and publishing on the website of the AIFC. Governor of the Astana International Financial Centre

K. Kelimbetov Minister of Finance of the Republic of Kazakhstan

B. Sultanov

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