Astana Rises to 57th in Global Financial Centres Index
Astana, The Gulf Observer: Kazakhstan’s capital Astana has climbed eight places to 57th among 117 financial centres worldwide in the 40th edition of the Global Financial Centres Index (GFCI 40), reinforcing its position as the leading financial centre in Eastern Europe and Central Asia.
Astana’s overall rating increased by 18 points, from 684 to 702. The city has maintained its leading regional position for more than three years. In the regional ranking, Cyprus followed Astana at 72nd globally, while Warsaw ranked 78th, leaving a 15-place gap between Astana and its closest regional competitor.
Astana’s improvement came despite a 1.09 percent decline in the average rating of financial centres across Eastern Europe and Central Asia. The index authors noted that the region’s leading financial centres nevertheless continued to strengthen their positions.
The Kazakh capital was also included among the 10 financial centres that survey respondents expect to play a greater role in the global financial system over the next two to three years. Astana ranked ninth on this list, receiving 45 mentions from respondents.
In the separate FinTech ranking, Astana advanced four places, moving from 55th to 51st.
Renat Bekturov, Governor of the Astana International Financial Centre (AIFC), said Astana’s improved ranking reflected growing confidence in the AIFC and Kazakhstan among the international financial community.
“For us, a position in the ranking is not an end in itself, but an independent assessment of the work we are consistently pursuing: improving the legal and regulatory environment, developing capital markets and financial technologies, and expanding international ties,” Bekturov said.
He added that the objective was for this progress to be reflected not only in Astana’s position among global financial centres, but also in increased investment, the arrival of international companies and expanded opportunities for Kazakhstani businesses.
The GFCI 40 assessed 139 financial centres, with 117 included in the main index. The ranking was compiled using 144 quantitative measures provided by international organisations, including the World Bank, the Organisation for Economic Co-operation and Development and the United Nations, alongside 39,531 assessments from 6,147 financial-sector professionals.
Survey participants identified several priority areas for financial centres over the next five years, including digital infrastructure, cloud technologies, data transmission and cyber resilience; attracting FinTech and digital-asset businesses; strengthening measures against money laundering and financial crime; and further developing capital markets.
New York retained the top position globally, followed by London, Hong Kong and Singapore. Shanghai, Tokyo, Seoul, Shenzhen, Dubai and Zurich also featured among the world’s top 10 financial centres.
Published twice a year, the Global Financial Centres Index is a major international benchmark for assessing the competitiveness of financial centres. It is produced by the UK-based Z/Yen Group in partnership with the China Development Institute and evaluates financial centres across five broad areas: business environment, financial-sector development, infrastructure, human capital and reputation.
Astana first entered the GFCI ranking in March 2018 and became the leading financial centre in Eastern Europe and Central Asia in March 2023.
The AIFC has contributed to Astana’s development as a regional financial hub through initiatives focused on its legal and regulatory framework, financial infrastructure, capital and digital-asset markets, and opportunities for international and regional investors. The centre provides businesses with access to financial instruments and international markets, an independent dispute-resolution system and regulation based on international standards, while supporting the development of financial technologies.
The AIFC continues to position Astana as a platform for investment attraction, capital flows and cross-border projects in Kazakhstan and Central Asia.
