For the first time in its history, Kazakhstan has found itself in the Global Fintech Index 2021 where it took the 13th position among all Asian Pacific Region countries.
This achievement plays a particularly important role for the Astana International Financial Center because it focuses on the development of the fintech ecosystem.
“AIFC Fintech is the first regulator in the region of CIS, which has implemented an international regulatory sandbox for testing new products and services under a softened regulating regime. The center provides high-quality infrastructure and is acting as a generous source of opportunities for fintech market development,” said Findexable, an international organization, which is responsible for the rating.
The Fintech Hub run by AIFC offers several programs designed to support startups, corporate innovations, venture capital and talents.
“Currently, there are more than 120 startups from Kazakhstan and Central Asia registered in AIFC Fintech Hub. Thirty-seven of them were recognized at the international stage and 32 such fintech startups have been accepted to the regulatory sandbox for further testing and development,” said in the statement.
In general, the authors of the Global Fintech Index have reviewed data on 264 cities, 83 countries and 11,000 fintech companies. The top five positions have been taken by the U.S., the U.K., Israel, Singapore and Switzerland.