Counsel, Head of AIFC Practice
Yerkin Budenov
About
- Yerkin Budenov is a lawyer with over 15 years of experience. He specializes in international arbitration and litigation, and matters related to the Astana International Financial Centre (AIFC).
- Yerkin has held significant positions, including senior positions at the Ministry of National Economy of Kazakhstan, Astana Financial Services Authority (AFSA), and was Chief Legal Officer of the AIFC Authority.
- He contributed to various administrative and economic reforms in Kazakhstan and, more recently, played a key role in the establishment of the AIFC, making significant contributions to the development of its legal framework.
- In 2025, Yerkin passed the New York State Bar Exam (and is currently undergoing the admission procedure).
Education
Date
Institution
Experience
Previous Professional Experience
Drafted the AIFC’s commercial legal framework. Conducted comprehensive research and analysis on complex policy and technical issues related to commercial regulation and financial integrity. Developed over 30 policy papers, regulations, and rules, establishing frameworks for corporate governance, corporations, partnerships (general, limited, and limited liability), contracts, obligations, damages and remedies, employment, and data protection.
Drafted the AIFC Data Protection Regulations 2017 and the AIFC Data Protection Rules 2018, marking the AIFC’s first comprehensive data protection framework.
Contributed to the Financial Services Framework legislation and AML/CFT regulatory framework of the AIFC.
Advised the newly established financial regulator on drafting the legal framework for initiating crypto exchange activities, including initial coin offerings, in Kazakhstan.
Represented the AIFC Authority in the Parliamentary Working Group focused on developing a regulatory framework for the issuance and circulation of digital (crypto) assets, including taxation.
Contributed to the establishment of Astana International Exchange (AIX), including reviewing and revising shareholders agreement, articles of incorporation, and other foundational documents.
Provided legal advice and support to the establishment and launch of the independent financial regulator – AFSA, independent court that provides a common law court system operating to the highest international standards to resolve civil and commercial disputes – the AIFC Court, International Arbitration Centre, a globally recognized seat for arbitration in Eurasia, and the AIFC ecosystem institutions: AIFC Bureau for Continuing Professional Development, AIFC FinTech Hub, AIFC Business Connect, AIFC Green Finance Centre.
Admissions
Publications
Protection of Minority Shareholders: Mandatory Bid or Partial Bid Rule. SSRN. 2016.
The Rescue of Failing Credit Institutions. What in Return? SSRN. 2017.
Languages
