The Astana Financial Services Authority published its plans to develop the Astana International Financial Centre (AIFC) regulatory framework in 2026 and identified potential areas for regulatory work in 2027–2028. The programme focuses on refining existing regimes and their practical application, drawing on supervisory experience, market feedback and evolving international standards. For 2026, the agenda includes further refinement of the Asset Management Framework, covering the operation of specialist funds, emerging fund structures, fund operational issues and investor protection; enhancements to the FinTech Lab framework to support testing of new business models; and targeted amendments across multiple frameworks, with insurance and Islamic finance in the initial scope. AFSA also plans new guidance on fees for certain licence combinations and variable fee components, alongside updates to existing AML/CFT guidance. Areas under consideration for 2027–2028 include potential enhancements to the Recognition Framework, alignment of membership and client-related requirements across AIFC regimes, improvements to the Tokenisation Framework, possible amendments for multilateral and organised trading facilities and derivatives, development of an Appointed Representative Framework, and updates to guidance on fitness and propriety and the regulatory perimeter. Public consultations remain the standard route for policy development, with Calls for Evidence used as an early-stage tool and Feedback Statements published to set out consultation outcomes, including those issued in 2025 for the Capital Markets, Digital Assets and Crowdfunding Frameworks. Market participants are encouraged to provide ongoing input on the 2026–2028 work programme and other proposals to enhance the AIFC regulatory framework.

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