RFCA is celebrating its second anniversary

September 6, 2008

The Regional Financial Centre of Almaty (RFCA), the first state body of its kind in Kazakhstan and in the Central Asian region, serves as a flagship unit for domestic and international financial institutions, is celebrating its 2nd anniversary, on 8 September 2008. Having set strategically important goal of developing Almaty into one of the leading financial centers in Asia by 2015, has been diligently establishing the infrastructure and proper conditions for establishment of and development of fully fledged platform designed to attract the world’s leading financial institutions.

In just a short period of time RFCA has introduced a number of new initiatives to the capital market. By virtue of RFCA initiatives trading volume in the stocks on the market rose sharply and new listing requirements were introduced to attract listing of domestic and foreign companies on the stock exchange. For integration of capital market infrastructure several institutions were established on the basis of RFCA.

On 17 August 2006 a specialised financial court was established in Almaty. A new concept within Central Asia was set up to simplify legal proceedings for the RFCA players.

In the second quarter of 2008 RFCA and KASE trading agreed to merge their two platforms into one under a new set of listing rules. Previously RFCA operated a special trading floor within new listing rules, on the KASE platform.

To bolster credibility of the exchange and provide comfort to investors in local stock exchange JSC “RFCA Rating agency” was founded in 2007.

The same year RFCA established “RFCA Academy”, aimed at rectifying shortage of professionals in the capital markets organizing training and improving specialists’ credentials. RFCA also set up RFCA Media Holding, public information centers and unified transfer agency network on the basis of Kazpost.

The above highlights the boldness and insightfulness that has come to characterize the RFCA over the last two years, as it strives to establish Almaty as an international financial center between the East and West.

In lights of this special event, Visor Capital, a leading investment bank in Kazakhstan, is delighted to offer its sincere congratulations to RFCA on its second anniversary and wish continued success in having the insightfulness and courage to fulfill its strategy pushing ahead economic growth of Kazakhstan.