In this article, we take a look at data privacy law as it
applies in the Astana International Financial Centre (AIFC), which
was officially launched in 2018. The AIFC is a territory within
Astana, the capital of Kazakhstan, where a special legal regime
applies to the financial sector. The data privacy law applicable in
the AIFC is most closely aligned with the EU's General Data
Protection Regulation (GDPR).
The AIFC provides a favourable environment for companies
registered there. It aims to attract investment in the Kazakhstan
economy, develop local capital markets and engender the production
of goods and services. As of 8 December 2023, 2,390 companies were
registered with the AIFC.