Translated with AI
At its first meeting, the Management Council of the Tamchy Special Financial and Investment Territory (SFIT) appointed its leadership. Ayaz Baetov (Minister of Justice) was elected Chairman of the Council, and Ali Ijaz Akhmad and Bakyt Sydykov (Minister of Economy and Commerce) were elected Deputy Chairmen.
These decisions marked the transition from regulatory preparation to operational readiness for the Tamchy SFIT. The new management faces the task of establishing a fully-fledged management company before beginning work with residents.
The meeting also approved the financial center's development plan, internal operating regulations, and the first package of regulatory documents. The management company was tasked with completing the development of a comprehensive regulatory framework, preparing a service ecosystem for residents, and establishing an International Dispute Resolution Center, which will resolve disputes based on common law.
The Council also organized the work of the management company, appointing Talantbek Imanov as its director. The management company will become the key body of SFIT: it will handle resident registration, license issuance, and infrastructure development for the approximately 6,000-hectare territory.
In parallel with the launch of regulatory mechanisms, the center is actively expanding its team. Qualification requirements for key positions have been defined, and applications are now being accepted for key positions. Recruitment is already underway across the center, including the selection of the chairperson and judges of the International Dispute Resolution Center with recognized international qualifications. A search is underway for internationally qualified candidates to renew the initial composition and strengthen the Council.
In the summer of 2026, SFIT's first business center will open on the shores of Lake Issyk-Kul, housing the management company's offices. This will mark the beginning of official business operations and the welcoming of the first residents.
"The Tamchy Financial and Investment Fund is being created as a favorable jurisdiction for international capital flowing into Central Asia: based on the principles of English common law, served by an independent judiciary, and operating according to the standards that investors expect from leading financial centers," noted Ayaz Baetov, Chairman of the Council.
"Issyk-Kul is located at the intersection of the region's largest markets—Central Asia, China, and the Middle East. Yet, the nearest international financial center is thousands of kilometers away. Companies choose jurisdictions with transparent regulations, a professional team, and independent arbitration. This is precisely the infrastructure we are creating here from scratch—as a critical link in supporting the region's growing economic integration," noted Ali Ijaz Ahmad, Deputy Chairman of the Management Board of the Tamchy Financial and Investment Fund.
