AIFCA and Fidor Solutions sign a Memorandum of Understanding to drive fintech innovation in Central Asia

Published on 03. July 2019

AIFCA and Fidor Solutions sign a Memorandum of Understanding to drive fintech innovation in Central Asia

Nursultan / Dubai, 3 July, 2019


Astana International Financial Centre Authority (AIFCA) and Fidor Solutions today signed a memorandum of understanding (MoU) to launch fintech programmes in Kazakhstan and promote economic development across Central Asia. This MoU was signed in Nur-Sultan, during the launch of the Fintech Summit of the Astana Finance Days.

The AIFC was created by the first president of the Republic of Kazakhstan Nursultan Nazarbayev on 7 December, 2015, to drive innovative financial and technology initiatives. The organisation focuses on research and development in new digital technologies. It has implemented accelerators and incubator programmes and attracted partnerships and investments from leading fintech and VCs.

Based in Dubai, UAE, Fidor Solutions’ international entity, sister-company to Fidor Bank, known as ‘the oldest fintech bank in the world’, is a pioneer in the area of open banking. Fidor Solutions provides technology and advisory services to financial institutions and contributed to the creation of three innovative digital banks in 2018 alone. The organisation contributes to fintech programmes in key global financial centres.

This MoU foresees AIFC and Fidor fostering fintech collaboration to boost the digital economy and increase financial literacy and access. It includes:

-          Initiatives to support the development of a cashless economy in Kazakhstan.

-          Development of joint fintech education programmes with key regional universities.

-          Support in developing the AIFC fintech marketplace to boost financial market innovation and collaboration while driving e-commerce activities.

-          Mentorship and partnership on accelerator programmes.


Kairat Kelimbetov, Governor of AIFC, stated: “AIFC has great ambitions for its fintech innovation programme that go beyond borders. We are proud to be growing our fintech network by signing an MoU with Fidor, a European fintech that has successfully developed internationally. Their contribution will be valuable to all our members and partners.”

Gé Drossaert, Board Member and Group CCO of Fidor, commented: “We are glad to be joining AIFC’s fintech innovation programme. Fidor shares similar core values to AIFC, such as openness and knowledge sharing. We are glad to put this into action by offering our expertise in launching this fintech education programme, and financial marketplaces while mentoring regional fintechs. The collaboration between our organisations will pave the way for fintech success in the region with a direct impact on the digital economy and financial access.”


About AIFC

Astana International Financial Centre (AIFC) was established at the initiative of the First President of the Republic of Kazakhstan, Nursultan Nazarbayev. The constitutional law on the creation of the AIFC was signed on December 7, 2015. The goal of the AIFC is to create a leading centre of financial services at the international level. The objectives of the AIFC are to assist in attracting investments into the country’s economy, creating an attractive environment for investing in the financial services sector, developing the securities market of the Republic of Kazakhstan and ensuring its integration with international capital markets.