SKA Law provides consulting services to international clients through the company SEKA CONSULTING (Great Britain). The firm provides extensive expert legal advice to its operation, corporate and project teams, as well as solution partners in Turkey and the UK.
Muratov Partners is licensed on the territory of the AIFC, has international quality management certification ISO 9001, membership in international profile associations ABA, ICAC, KazBar, KPLA, AmCham, a strong team of lawyers and a pool of large clients.
Muratov Partners has a representative office licensed in the AIFC, has received international quality management certification ISO 9001, is a member of international profile associations ABA, ICAC, KazBar, KPLA, AmCham, has a strong team of lawyers and a pool of large clients.
We congratulate our colleagues on reaching a new international level! We wish success and
prosperity to their projects!
3. In Nur-Sultan, lawyers discussed the topic of labor settlement within the framework of the AIFC
When drawing up an employment contract with an employee of the AIFC, it is necessary to be based on the norms of the Labor Regulations of the ICFA, which sets the minimum requirements. This was announced by Aynur Akhmetova, CEO and Director of Muratov Law Firm Limited, within the framework of the Business Connect forum session of the Astana Finance Day online conference, held on July 3.
The legislation of the AIFC is based on the Constitutional Law of the Republic of Kazakhstan «On the «Astana» International Financial Center» dated December 7, 2015 № 438-V. In their turn, the AIFC acts are based on the principles, norms and precedents of the legislation of Great Britain and Wales, as well as the standards of the world's leading financial centers.
From January 1, 2018, in the Astana International Financial Center, the Regulation on Employment was introduced, which regulates labor relations between employees and employers of the AIFC.
The rules of the Regulation establish only the minimum requirements that must be adhered to by the employer and the employee. At the same time, the concluded employment contract may establish more favorable conditions than those established by the Clauses of the Regulation.
So, for example, the Regulation does not provide for training, instructing, testing the knowledge of employees on safety and health issues, in contrast to the Labor Code of the Republic of Kazakhstan.
Paid annual leave is also regulated in different ways, in the Clauses of the Regulation it is 20 working days, and according to the Labor Code of the Republic of Kazakhstan - 24 calendar days. It is also noted that paid paternal parental leave, according to the Regulation is provided for at least 5 working days, while according to the Labor Code of the Republic of Kazakhstan, unpaid leave is provided for up to 5 calendar days.
So, if we talk about the main differences, then in the clause of termination of the employment contract, the Regulation assumes equal opportunities for the employee and the employer, when any party has the right to terminate the employment contract without giving reasons by notifying
the other party to terminate the employment relationship, and if there are reasons for the employer - without notification. In the Labor Code of the Republic of Kazakhstan, this issue is regulated more fundamentally, the document contains at least 20 grounds for terminating an employment contract.
“Considering that the Regulations do not manage all relations that arise or may arise between an employee and an employer in practice, we recommend developing such an employment contract that would cover these issues, including on the basis of the labor legislation of the Republic of Kazakhstan,” - Akhmetova clarified.
AIFC is the Astana International Financial Center, created on the initiative of the First President of the Republic of Kazakhstan, Nursultan Nazarbayev. The main goal of the AIFC is the development of a liquid and balanced capital market with a wide range of financial instruments provided. The AIFC is a unique platform in this region, providing extensive access to capital and a wide range of financial services and investment instruments. The AIFC operates on the basis of English common law, the legal status of the financial center is enshrined in the Constitutional Law of the Republic of Kazakhstan. The official language of the AIFC is English. Muratov Law Firm Limited is an international law firm licensed on the territory of the AIFC. Specializes in corporate business services, including the pre- and post-registration period of companies, provision of expertise, legal opinions, full legal support for financial transactions of the AIFC participants, etc.