Regulatory Alerts2023-04-20 | https://aifc.kz/legal-framework/policy-statement-on-the-afsas-approach-to-banks-and-start-up-banks/Added · Updated
Policy Statement on the AFSA’s Approach to Banks and Start-up Banks
The Astana Financial Services Authority (AFSA) issued this policy to clarify its risk-based approach for authorizing start-up banks within the AIFC. The regulator generally requires applicants to be branches or subsidiaries of existing regulated financial institutions, deeming independent start-ups unsuitable except in exceptional cases. The document mandates rigorous demonstration of financial soundness, robust governance, operational controls, and compliance capabilities to mitigate unique risks associated with new banking entities.
More like this from AFSA
We email you every new AFSA publication the day it's published.
Topics
Share