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

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