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Corporate Governance at the Astana Financial Centre (AIFC) describes the journey to spearhead sound corporate governance at the AIFC and in Kazakhstan.

Sound corporate governance, which is based on accountability, transparency and probity, is critical for any financial centre to create trust in and among financial market participants.

In July 2019 the AIFC began the development of the AIFC corporate governance principles. TheCityUK organised a number of working group meetings funded by the UK government under the aegis of the Kazakhstan-UL Inter-Governmental Commission. Professor Alexander Van de Putte oversaw the development of the principles and its guidance and the AIFC team was advised by board performance expert Simon Osborne.

The principles have been implemented throughout the AIFC on an ‘apply and explain’ basis. They are designed to improve the capabilities and mindsets of boards (and individual directors) and contribute to the sustainable long-term success of companies. They therefore are an important milestone for both the AIFC and Kazakh companies.

Professor Alexander Van de Putte is Chief Strategy Officer, Chairman of Corporate Governance & Stewardship, and Chairman of the Academic Council of the Astana International Financial Centre. He is also the Chairman of the Board of the AIFC Bureau for Continuing Professional Development (BCPD) and an independent director of the AIFC Authority. In 2002, he founded the Sustainable Foresight Institute, a small think-tank active in scenario planning and strategic foresight, and in 2016, Corporate Governance 4.0 to promote sound corporate governance to contribute to the sustainable long-term success of companies. At IE University, he is a visiting professor of Strategy and Strategic Foresight and of Corporate Governance. In December 2020, he was awarded with the high state award – the order of Dostyk of Degree II by decree of the President of the Republic of Kazakhstan.

Alexander is an economist and engineer by training. He holds advanced degrees in Management and Decision Sciences from Boston University, was a BAEF Fellow at Harvard Business School, holds a PhD in Applied Economics (Strategy & Finance) from the University of London, a Doctorate in International Relations from the Geneva School of Diplomacy, and an MSt in Sustainability Leadership and a PhD in Engineering (Complex Adaptative Systems) from Cambridge University.

He has published six books on finance, strategy, leadership, and corporate governance.

Alexander Van de Putte