Scientific Herald of Uzhhorod University. Series "Physics"

ISSN 2415-8038 e-ISSN 2786-6688
  • Home
  • Articles & Issues
    • Current
    • All Issues
  • About
    • Aims and Scope
    • Editorial Board
    • Indexing
    • Sources of Financing
  • For Authors
    • Submission
    • Terms of Publication
    • Formatting Guidelines
    • Peer Review Process
    • Article Processing Charges
    • License Agreement
  • Ethics & Policies
    • Publication Ethics
    • Conflict of Interest
    • Subscription Policy
    • Archiving
    • Complaints Policy
    • Privacy Statement
    • Corrections and Retractions
    • Anti-plagiarism Policy
    • Generative AI Policy
  • Search
  • Contacts

Scientific Herald of Uzhhorod University. Series "Physics"

  • Submit an article
  • Home
  • Articles & Issues
    • Current
    • All Issues
  • About
    • Aims and Scope
    • Editorial Board
    • Indexing
    • Sources of Financing
  • For Authors
    • Submission
    • Terms of Publication
    • Formatting Guidelines
    • Peer Review Process
    • Article Processing Charges
    • License Agreement
  • Ethics & Policies
    • Publication Ethics
    • Conflict of Interest
    • Subscription Policy
    • Archiving
    • Complaints Policy
    • Privacy Statement
    • Corrections and Retractions
    • Anti-plagiarism Policy
    • Generative AI Policy
  • Search
  • Contacts

The influence of the current law of the Astana International Financial Center on the development of the legal system of Kazakhstan

Issue 55, 2024

Diana Batyrbekova, Symbat Ukin, Anar Mukasheva, Gulnara Khakimova, Guldaray Zhussupova

Received 15.09.2023, Revised 19.12.2023, Accepted 23.02.2024

https://doi.org/10.54919/physics/55.2024.132bt4

Abstract

Relevance. The relevance of the problem under study lies in the need to study the legal system of the Republic of Kazakhstan and the functioning Astana International Financial Center (AIFC), the current law of which interacts with the current law of the Republic of Kazakhstan.

Purpose. In this regard, the purpose of this article is to explore the interaction between the current law of the Astana International Financial Center and the current law of the Republic of Kazakhstan.

Methodology. The method that was used to achieve the goal became systemic, functional, and hermeneutic were used as auxiliary ones.

Results. The main results of this study: it was revealed that the current AIFC law and the current law of the Republic of Kazakhstan function as two independent institutions in accordance with the amendments to the Basic Law of Kazakhstan, complementing and mutually enriching each other. It is proved that the norms, principles, and precedents of the Anglo-Saxon legal system have a positive impact on the development of the legislative sphere of Kazakhstan, taking into account the national law of the Republic. An analysis is presented of how decisions and orders made on the territory of the AIFC are limited by acts of the court. The interaction and mutual influence of the current law of the Center with the system of generally binding norms of the Republic of Kazakhstan is substantiated. The theoretical aspects of the concept of the reception of law are disclosed. Also, in the course of the study, two approaches were revealed to the study of the functioning of the current law of the organization declared in the subject of the article, including the Anglo-Saxon legal system, and the system of generally binding norms of the Republic of Kazakhstan.

Conclusions. The practical significance of the article lies in proving that the jurisdiction of the above organizations, in the form of court decisions, extends not only to the territory of AIFC, located within the city of Astana – where a special legal regime prevails, but also throughout the territory of the Republic of Kazakhstan.

Keywords: legal requirements; legislation; judicial acts; legal system of England and Wales; mutual influence of cultures

Suggested citation

Batyrbekova D, Ukin S, Mukasheva A, Khakimova G, Zhussupova G. The influence of the current law of the Astana International Financial Center on the development of the legal system of Kazakhstan. Sci Herald Uzhhorod Univ Ser Phys. 2024;(55):1324-1332. DOI: 10.54919/physics/55.2024.132bt4

Download article

References

  1. Rogov I. Axiological aspects of the convergence of English and European continental law. J Foreig Legislat Comp Law. 2020;1:18-19.
  2. Batyrbekova DS. Certain problematic issues of prosecutorial supervision in relation to the acts of the International Financial Center “Astana”, valid throughout the territory of the Republic of Kazakhstan. Bull Inst Legislat Judic Info Repub Kazakh. 2021a;3(66):120-128.
  3. Batyrbekova DS. The current law of the Astana International Financial Center and its interaction with the current law of the Republic of Kazakhstan. Law State. 2021b;4(93):6-24.
  4. Zhavoronkov S, Dabrowski MP, Yanovsliy MK, Novikov V. Post-Soviet and global modernization: The results of thirty years. Moscow: Institute of Economic Forecasting of the Russian Academy of Sciences; 2022.
  5. Beer M. Astana International Financial Centre set to become beating heart of banking in Central Asia. 2020. https://astanatimes.com/2020/07/astana-international-financial-centre-set-to-become-beating-heart-of-banking-in-central-asia/
  6. Yeung H, Huang F, Bekmurzayeva Z, Janaidar D. Institutional development and the Astana international financial center in Kazakhstan. Washington Uni Glob Stud Law Rev. 2021;19(1):53-82.
  7. Moroz SP. MFC court: Issues of theory and practice. Bull Inst Legislat Legal Info Repub Kazakh. 2020;1(59):111-115.
  8. Sarpekov R. Prospects for constitutionalization of administrative justice in the EEU member states. Bull Inst Legislat Legal Info Repub Kazakh. 2022;1(68):13-21.
  9. Batyrbekova DS. Features of civil regulation on the territory of the International financial centre “Astana”. Bull L.N. Gumilyov Eurasian Nation Uni. Series Right. 2022;1(138):78-88.
  10. Bantekas I. The rise of transnational commercial courts: The Astana International Financial Centre court. Pace Int Law Rev. 2020;33(1). https://doi.org/10.58948/2331-3536.1403
  11. Bookman PK. Arbitral courts. 61 Virginia J Int Law. 2020;61(2):161-220.
  12. Constitutional Law of the Republic of Kazakhstan No. 438-V “On the Astana International Financial Center”. 2015. https://online.zakon.kz/Document/?doc_id=39635390
  13. Law of the Republic of Kazakhstan No. 51-VI “On amendments and additions to the Constitution of the Republic of Kazakhstan”. 2017. https://adilet.zan.kz/rus/docs/Z1700000051
  14. Decree of the President of the Republic of Kazakhstan No. 24 “On the Astana International Financial Center”. 2015. https://adilet.zan.kz/rus/docs/U1500000024
  15. Message of the President of the Republic of Kazakhstan – Leader of the Nation N.A. Nazarbayev to the People of Kazakhstan. Strategy “Kazakhstan-2050”. 2012. https://primeminister.kz/assets/media/strategiya-kazakhstan-2050.pdf
  16. Government of Kazakhstan and ADB: Knowledge and Experience Exchange Program. 2023. https://www.adb.org/countries/kazakhstan/knowledge-experience-exchange-program
  17. Civil Procedural Code of the Republic of Kazakhstan No. 377-V LRK. 2015. https://adilet.zan.kz/eng/docs/K1500000377
  18. Bantekas I. Transplanting English law in special economic zones in Asia: Law as commodity. Asia J Comp Law. 2022;17(2):305-322.
  19. Cornell SE, Starr SF, Barro A. Political and economic reforms in Kazakhstan under President Tokayev. Washington-Stockholm: Central Asia-Caucasus Institute and Silk Road Studies Program; 2021.
  20. Buckley R, Douglas A, Robin V, Dirk Z. Building Fintech ecosystems: Regulatory sandboxes, innovation hubs and beyond. J Law Policy. 2020;61(1):55-98.
  21. Rehanna N. Shari’a Law and its impact on the development of Muslim and Non-Muslim business relations in the United Arab Emirates. Law Develop Rev. 2020;13(2):443-472.
  22. Koh A, Puchniak D, Goto G. Shareholder stewardship in Asia: Functional diversity within superficial formal convergence. In: Global Shareholder Stewardship (pp. 613-630). Cambridge: Cambridge University Press; 2022.
  23. Ku Ch, Morriss A. International financial centers as a model: Facilitating growth and development by connecting to international legal frameworks. Law Develop Rev. 2021;14(2):429-464.
  24. Głowacki K, Hartwell Ch, Karunska K, Kurczewski J, Botsch E, Göhring T, Priesmeyer-Tkocz W. The rule of law and its social reception as determinants of economic development: A comparative analysis of Germany and Poland. Law Develop Rev. 2021;14(2):359-400.
  25. Kassenova N. Kazakhstan’s adaptation to the Belt and Road Initiative: Tracing changes in domestic governance. In: The Belt and Road Initiative and Global Governance (pp. 182-203). Cheltenham: Edward Elgar Publishing; 2020.
  26. AIFC. AIFC Regulations No. 31. 2019. https://aifc.kz/files/legals/20/file/trust_v1_31_02.07.2019.pdf
  27. AIFC. AIFC Court Rules. 2018. https://aifc.kz/files/legals/69/file/3.-legislation-aifc-court-rules-2018.pdf
  28. AIFC Small Claims Court. AIFC-C/SCC/2020/0002. 2020.https://aifc.kz/uploads/AIFC%20Court%20and%20IAC/Judgment%20in%20Case%20No.%202%20of%202020%20Nursultan%20Aliyev%20v%20Proportunity%20RUS.pdf
  29. Koster H, Obe MB. The Dubai International Financial Centre (DIFC) сourts: A specialised commercial court in the Middle East; 2018. https://dx.doi.org/10.2139/ssrn.3237126
Make a Submission

Indexing

  • Scopus logo
  • WorldCat logo
  • OpenAIRE logo
  • Crossref logo
  • VNLU logo
  • Professional publications of Ukraine logo
  • BASE logo
  • Google Scholar logo

info@physics.uz.ua