The AIFC Court and IAC hosted a Delegation of German Economy for Central Asia visit
The AIFC Court and IAC hosted a Delegation of German Economy for Central Asia visit with German businesses, investors, education institutions, and lawyers, who have commercial interests in the Republic of Kazakhstan. The IAC Chairman, Mr. Thomas Krümmel, led a presentation and discussion on the IAC.
The AIFC Court and IAC have been included in more than 7,500 business contracts as the number one choice for international commercial dispute resolution. The AIFC Court and IAC continue to gain recognition with investors to Kazakhstan and the wider Eurasia region as the premier international commercial dispute resolution institutions in Eurasia.
The Astana International Financial Centre (AIFC) is an independent jurisdiction that started operations in 2018. In accordance with the Development Strategy until 2025, the key focus of the AIFC is to consolidate as a universal platform connecting the countries of the EAEU, Central Asia and the Caucasus. www.aifc.kz
The AIFC Court is an independent legal entity. It has its own procedural rules modelled on English common law procedures and leading international practice. The AIFC Court is separate and independent from the courts of the Republic of Kazakhstan. It consists of two tiers: a Court of First Instance, which includes a specialist division known as the Small Claims Court; and a Court of Appeal. It has exclusive jurisdiction over disputes arising out of the activities and operations of the AIFC and jurisdiction in the case of other disputes in which all parties agree in writing to give the AIFC Court jurisdiction. It does not have jurisdiction in relation to disputes that are of a criminal or administrative nature. It applies the most up to date and efficient case management practices. https://court.aifc.kz/
The International Arbitration Centre (IAC) is an independent legal entity. It has its own procedural rules modelled on best international practice. It has its own panel of leading international arbitrators and mediators having many years of arbitration and mediation experience in commercial law, including oil and gas, trade, construction, energy, financial services, banking, Islamic finance, insurance, and intellectual property. IAC arbitration awards are recognised and enforceable in Kazakhstan and internationally. https://iac.aifc.kz/