As part of Astana Finance Days, a Memorandum of Understanding (MoU) on mutual access and recognition in the securities market was signed between the National Bank of Georgia and the Astana Financial Services Authority (AFSA).

The Memorandum was signed by Ekaterine Mikabadze, First Vice-Governor of the National Bank of Georgia, and Evgeniya Bogdanova, Chief Executive Officer of AFSA.

The purpose of the MoU is to facilitate mutual access between the Astana International Financial Centre (AIFC) and the Georgian securities markets in specific areas of financial services. The agreement establishes a framework for closer cooperation and will help streamline the provision of financial services between the two countries.

Under the Memorandum, AFSA and the National Bank of Georgia will work towards creating practical mechanisms for mutual access for market participants. In doing so, the respective legal and regulatory requirements of each jurisdiction will be fully taken into account.

The new framework also entails strengthening supervisory cooperation and information exchange between the two regulatory authorities, which will facilitate expanded access to cross-border markets under appropriate supervisory mechanisms.

"The purpose of the Memorandum is to facilitate mutual access to financial services between the two countries and to strengthen regulatory and supervisory cooperation. This, in turn, will help expand opportunities for financial institutions and market participants in both jurisdictions and increase cross-border investments. Deepening cooperation between our markets is a prerequisite for the sustainable development of the securities market in the broader region," stated Ekaterine Mikabadze, First Vice-Governor of the National Bank of Georgia.

"Regional financial integration gains real significance when regulatory cooperation translates into practical opportunities for market participants. This agreement signed with the National Bank of Georgia is an important step in this direction. We aim to create new opportunities for financial institutions and investors, and to lay the groundwork for Central Asia and the South Caucasus to emerge as a more interconnected and attractive investment space for international capital," noted Evgeniya Bogdanova, Chief Executive Officer of AFSA.

The agreement builds upon years of cooperation between AFSA and the National Bank of Georgia. The parties first signed a Memorandum of Understanding in 2018, which established a framework for regulatory cooperation and information exchange.

The new Memorandum represents the next stage in the development of this partnership, shifting from general regulatory cooperation to practical mechanisms focused on strengthening ties between the AIFC and the Georgian securities markets.

The signing ceremony of the MoU took place during a high-level event held as part of Astana Finance Days, titled "From Fragmentation to Integration: Regional Cooperation for Stronger Financial Markets."

During the round-table discussion held as part of the event, high-ranking representatives of financial regulatory authorities and international organizations from Central Asia, the Caucasus, and other partner jurisdictions discussed practical approaches to regulatory cooperation, cross-border market connectivity, and financial integration.