File(s) under permanent embargo

Reason: Permanent embargo by the publisher

Institutional Development and the Astana International Financial Center in Kazakhstan

journal contribution
posted on 25.10.2019, 13:08 by Horace Yeung, Flora Huang, Zhanyl Bekmurzayeva, Dina Suleimenova
This article investigates the most recent instance of the transplantation of English corporate and financial law into a different legal environment. The Astana International Financial Centre (AIFC) in Kazakhstan was launched in 2018. The AIFC has largely built on the institutional model pioneered by the Dubai International Financial Centre. This key institutional innovation is the transplanting and operation of laws based on the English common law, independent of their national legal systems (civil law systems, heavily influenced by Islamic tradition, and, in the case of Kazakhstan, also Soviet socialist principles). This article seeks to contribute to the understanding of the system of Kazakhstan, a strategically located but well under-investigated country, and a potentially viable institutional model for other aspiring financial centers. To the best knowledge of the authors, this work is the first ever English academic literature on the development of the AIFC.

Funding

The authors would like to acknowledge the feedback received from the Company, Commercial and Financial Law Research Cluster meeting at the University of Leicester in July 2018, and a webinar organized by the Academy of Public Administration under the President of Republic of Kazakhstan in November 2018. The authors also would like to acknowledge the financial support from the EU Erasmus+ program and the University of Leicester’s International Seed Fund and College Research Development Fund to facilitate our bilateral research trips.

History

Citation

University of Leicester School of Law Research Paper No. 18-07, Forthcoming, 19(2) Washington University Global Studies Law Review

Author affiliation

/Organisation/COLLEGE OF SOCIAL SCIENCES, ARTS AND HUMANITIES/Leicester Law School

Version

AM (Accepted Manuscript)

Published in

Washington University Global Studies Law Review

Volume

19

Issue

2

Publisher

Washington University

issn

1546-6981

Acceptance date

24/10/2019

Copyright date

2019

Notes

The file associated with this record is under a permanent embargo in accordance with the publisher's policy. The full text may be available through the publisher links provided above.

Language

en