Kazakh delegation headed by Vice Minister of Finance of the Republic of Kazakhstan D. Kengbeil took part in the 10th anniversary Moscow Financial Forum, held on September 18, 2025 in Moscow at the «Manege» Central Exhibition Hall.The Moscow Financial Forum is a platform for professional discussion focused on issues of macroeconomic policy, financial development and investment cooperation.Dauren Kengbeil participated in the plenary session dedicated to the challenges and objectives of the financial system, as well as in expert sessions where the main topics of discussion included international finance, investment attraction, new directions in the digitalization of public procurement and financial control, and regional aspects of economic growth.Within the framework of the Forum, the Ministries of Finance of the CIS member states signed a Memorandum of Cooperation in the field of public finance management, aimed at strengthening financial interaction and promoting economic development through the exchange of expertise among relevant specialists.In addition, on the sidelines of the Forum, issues of interaction and further expansion of cooperation were discussed with Deputy Minister of Finance of the Russian Federation I. Chebeskov.Source : https://www.gov.kz/memleket/entities/minfin/press/news/details/1070630?lang=kk

        Yesterday, a discussion of the key provisions of the Address by the President of the Republic of Kazakhstan took place at Balapan Koligi Company LLP. The meeting was held in a constructive atmosphere and served as a platform for exchanging views on the country's future development and the role of every citizen in achieving these goals. A.A. Sergazinova, the company's HR specialist, elaborated on the key areas of the Address. She noted that the document outlines strategic priorities related to the economy, social sphere, and improving the quality of life of the population. Particular attention is paid to employment, youth support, and professional development. The meeting participants expressed confidence that consistent implementation of the objectives outlined by the Head of State will become a significant impetus for development both at the national level and at individual enterprises. At the end of the event, it was emphasized that every employee must recognize their responsibility for the overall result, and the contribution of work teams to the implementation of the Address is of particular importance.Source : https://www.gov.kz/memleket/entities/abay-kurchatov/press/news/details/1070240?lang=kk

On September 17-18, 2025, Ethics Commissioner of the Ministry of Finance of the Republic of Kazakhstan Arystanbekova Kamshat Bolatkyzy and Ethics Commissioner of the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan Akbayev Taskyn Turagaldyuli paid a working visit to Akmola region. During the visit, a meeting was held with the heads and teams of the territorial divisions of the Ministry of Finance of the Republic of Kazakhstan.Inher speech, Kamshat Bolatkyzy noted that public service is an expression of special trust on the part of society and the state and places high demands on the ethics of civil servants. Civil servants are required to comply with established standards of professional ethics Taskin Turagaldyuli brought to the attention of those present information on the observance of business etiquetteand rules of official behavior, spoke about the current restrictions imposed on civil servants and violations infringing on public order and morality.Followingthe meeting, they answered the questions of employees of the territorial divisions and urged them to comply with the requirements of the Code of Ethics and legislation in the field of public service and anti-corruption.Source : https://www.gov.kz/memleket/entities/kgd-akmola/press/news/details/1070278?lang=kk

The International Theatre Festival «BIKEN FEST» III, which became a true celebration of diverse art and stage mastery, has come to a close. The creative competition, dedicated to immortalizing the name of the great stage actress, People’s Artist of Kazakhstan, laureate of the State Prizes of the USSR and Kazakhstan, Biken Rimova, was held with the support of the Zhetysu Region Akimat and organized by the Biken Rimova Drama Theatre.This year’s festival carried special significance as it coincided with the 50th anniversary of the theatre company. From September 13 to 17, it captivated audiences and gave new impetus to the cultural life of the region. Theatre troupes from across Kazakhstan, as well as from near and far abroad, took to the stage, presenting their best productions.The jury of the festival was chaired by People’s Artist of Kazakhstan, renowned stage and screen actor Doskhan Zholzhaksynov.By decision of the jury, the Grand Prix, along with a prize of 1 million tenge, was awarded to the Abai Regional Kazakh Musical Drama Theatre for its production «Enlik-Kebek as Told by Abai», based on the heritage of the great poet. The troupe showcased artistry befitting the high status of the festival.In the category «Best Plastic Directing», the State Drama and Comedy Theatre named after Azerbaijan Mambetov was recognized for its production «Charlie Chaplin» and received 600,000 tenge. Actor Tolebek Konbay of the Akmola Regional Drama Theatre was awarded «Best Male Role» and 500,000 tenge for his masterful portrayal of several characters in the play «The Road to Kyoto». Azerbaijani actress Oksana Rasulova won «Best Female Role» and 500,000 tenge for her performance in «Letter from an Unknown Woman», which conveyed subtle emotions and deep feelings.The Bukhara State Musical Drama Theatre (Uzbekistan) was honored for its outstanding ensemble performance, receiving the prize for «Best Acting Ensemble» and 500,000 tenge. Kyrgyz actor Nurlan Salidinov and Georgian actress Kristine Beruashvili were awarded for the best supporting roles, each receiving 300,000 tenge. Theatres of Shymkent and East Kazakhstan, which impressed audiences with their stage solutions, received the nominations «Best Musical Design» and «Best Scenography», each accompanied by a prize of 200,000 tenge.The high level of organization, the dedication of stage masters to their craft, and their creative search not only expanded the horizons of Kazakh theatre art but also once again elevated the name of Biken Rimova in the memory of the people. Thus, «BIKEN FEST» has become a vivid testament to spiritual renewal and will remain in the hearts of art lovers for years to come. Source : https://www.gov.kz/memleket/entities/zhetysu-archive/press/news/details/1070282?lang=kk

On September 17, 2025, the Legal Office of the State Revenue Department, represented by the head of the Office, Zhangurchinova M.R., and the chief specialist, Ibragimova A.G., conducted technical training on administrative legislation for the staff of the department, territorial administrations, and customs posts.Source : https://www.gov.kz/memleket/entities/kgd-vko/press/news/details/1070287?lang=kk

 Almaty hosted a regular meeting of the management of the Agency for Regulation and Development of the Financial Market and the National Bank with chiefs of the Association of Financiers of Kazakhstan and second-tier banks.Participants of the meeting discussed current issues of financial sector development, including offers of market participants for a draft of the new Banks and Banking Activities Law.Moreover, the pace of consumer lending, measures to prevent debt burdens, and stimulate lending to the economy were discussed.The parties highlighted importance of introducing the digital financial assets and elaborated on the mechanisms of use of the digital tenge.Representatives of the financial sector also studied measures taken to prevent fraud in the financial market and grounds for extrajudicial and judicial write-offs of fraudulent loans. External Communications Directoratepress@finreg.kzSource : https://www.gov.kz/memleket/entities/ardfm/press/news/details/1070318?lang=kk

Zagreb, September, 2025 – the Ambassador of Kazakhstan in Croatia, Daulet Batrashev, held a series of meetings with the leadership of Croatia’s foremost companies within the innovation ecosystem. The negotiations were part of efforts to strengthen cooperation in the fields of digitalization, artificial intelligence, and sustainable technological development.During the meeting with Tomislav Vazdar, a Board Member of the Artificial Intelligence Association Cro AI, the potential for expertise exchange and the participation of Croatian AI start-ups in Kazakhstani projects, including the creation of Alatau Digital City, was discussed.Goran Dautović, Vice President of Verne, informed the Kazakh diplomat about the company’s plans to launch an autonomous transport service. The robotaxi project, as part of smart city development, attracted particular interest.The introduction of digital solutions in Kazakhstan’s agricultural sector, including crop yield monitoring systems and farm management technologies, was discussed during talks with Agrivi. Daulet Batrashev and the company’s Chairman of the Board, Matija Žulj, emphasized the potential for joint projects in Kazakhstan’s agricultural regions.Davor Anićic, Chairman of the Board of Velebit AI, presented the company’s developments in machine learning, data analysis, and computer vision, expressing interest in applying these technologies in healthcare, agriculture, and smart city projects in Kazakhstan.As a result of the meetings, the parties agreed to elaborate practical formats of cooperation. Daulet Batrashev stressed that Kazakhstan views Croatia as a promising partner in the sphere of innovation and digital technologies, and that cooperation with leading companies will strengthen the technological potential of both countries.For his part, Hrvoje Čuvalo, Chairman of the Board of the Croatian Bank for Reconstruction and Development (HBOR), expressed the Bank’s interest in expanding cooperation with Kazakhstani partners and confirmed its readiness to provide financial support for Croatian companies’ projects in Kazakhstan.Source : https://www.gov.kz/memleket/entities/mfa-zagreb/press/news/details/1070331?lang=kk

Kazakhstan is participating for the first time in the Malaysia International Halal Showcase (MIHAS), considered the world's largest specialized platform for promoting halal products and services. Kazakhstan's national pavilion at the exhibition features products from 20 domestic companies, demonstrating the country's export potential in the halal segment.MIHAS is held annually in Kuala Lumpur and serves as a global platform for establishing business connections, exchanging experiences, and promoting halal products in international markets. Kazakhstan's participation in the exhibition underscores the country's commitment to actively entering the global halal ecosystem and strengthening economic ties with Southeast Asia.On the first day of his visit to Malaysia, Arman Shakkaliyev, Minister of Trade and Integration of the Republic of Kazakhstan, attended the opening of the MIHAS 2025 international exhibition and held a series of bilateral meetings aimed at developing economic partnerships and deepening cooperation in key sectors. A bilateral meeting was held between the Minister of Trade and Integration of the Republic of Kazakhstan and the Minister of Agriculture and Food Security of Malaysia, Mohamad Sabu.The parties discussed prospects for cooperation in the agro-industrial complex, ensuring food security, and promoting products to new markets. During the meeting, special attention was paid to the development of the agro-industrial complex and expanding Kazakhstan's export opportunities.The Kazakh side expressed its readiness to expand agricultural exports to Malaysia at competitive prices, emphasizing the recognition of Kazakhstan's halal standards by JAKIM. Sanitary and veterinary approvals, the opening of new export routes, and joint investments in processing were also discussed.Particular attention was paid to the development of integrated logistics corridors, including the use of the Trans-Caspian International Transport Route and the possibility of establishing direct air service between the two countries. The Malaysian side expressed interest in exchanging innovations and technologies in agriculture, as well as in developing academic and research programs."In the face of global challenges to food security, the joint efforts of Kazakhstan and Malaysia will guarantee sustainable development and stability for both countries," the ministers emphasized.On the same day, the Minister of Trade and Integration of the Republic of Kazakhstan met with the leadership of the National Chamber of Commerce and Industry of Malaysia (NCCIM), headed by President N. Gobalakrishnan. Key areas of cooperation were discussed, including expanding trade, developing logistics, digitalization, green energy, chemicals, and the food industry. Particular attention was paid to the prospects for promoting halal products and creating joint investment projects.The Kazakh side noted Malaysia's role as a strategic hub for accessing Southeast Asian markets and emphasized the opportunities for Malaysian companies to participate in projects in Kazakhstan and the Eurasian Economic Union.The parties agreed to resume the work of the Kazakhstan-Malaysia Business Council and prepare for the next meeting in 2026 in Kazakhstan, where new joint projects are planned to be presented."We are confident that NCCIM will become an important bridge between the business communities of Kazakhstan and Malaysia, opening up new opportunities for trade and investment," noted Arman Shakkaliyev, Minister of Trade and Integration of the Republic of Kazakhstan.Source : https://www.gov.kz/memleket/entities/mti/press/news/details/1070341?lang=kk

Astana, September 17-18, 2025 – Secretary-General of the Inter-Religious Council of Ethiopia, Mr. Like Tiguhan Tagay Tadele is participating in the VIII Congress of Leaders of World and Traditional Religions in Astana.As part of the forum's program, he delivered speech at Section 2: "Religions as a Factor for Sustainable World Development," where he highlighted the key role of dialogue between religious communities in strengthening trust, promoting ideas of peace and harmony, and addressing contemporary global challenges.The VIII Congress of Leaders of World and Traditional Religions brought together over 700 people from 60 countries to the capital of Kazakhstan, reaffirming its status as a platform for global inter-religious dialogue. For reference: Ethiopia, one of the oldest countries in the world, possesses a rich cultural and religious heritage (Christianity has been practiced since the 4th century, Islam since the 7th century). Today, the country's population exceeds 125 million people, of which 44% are Christians (mainly representatives of the Ethiopian Orthodox Church), 34% are Muslims, and 23% are Evangelicals. In order to unite the main religious groups, the Inter-Religious Council of Ethiopia (IRCE) was established in 2010 – an organization uniting the main religious communities of the country with the aim of maintaining religious freedom, harmony, and well-being.Source : https://www.gov.kz/memleket/entities/mfa-addis-ababa/press/news/details/1070349?lang=kk

On September 17, 2025, Ambassador of Kazakhstan Kanat Tumysh met with Mrs. Nguyen Phuong Hoa, Director General of the Department of International Cooperation of the Ministry of Culture, Sports and Tourism of Vietnam.The sides exchanged views on the 1st World Culture Day, which will be held on October 4-5, 2025 in Hanoi, during which Embassies will have the opportunity to showcase their national dishes, costumes, films, art and cultural objects.The Embassy of Kazakhstan was honored to join this important event and officially registered its participation in the popularization of Kazakh culture and the further strengthening of cultural exchange between Kazakhstan and Vietnam.Source : https://www.gov.kz/memleket/entities/mfa-hanoi/press/news/details/1070351?lang=kk

Education Administration of East Kazakhstan region announces that an internal analysis of corruption risks is being conducted from October, 2 to November 3, 2025.If you have any questions or suggestions, please call at: 8(7232) 702-361, 8(7232) 702-362, email: bilim@akimvko.gov.kz, address: 59/1 Kazakhstan Str., Ust-Kamenogorsk city.The internal analysis of corruption risks in the activities of the Administration will cover the following areas:1) identification of corruption risks in the regulatory legal acts affecting the activities of the object of the analysis;2) identification of corruption risks in the organizational and administrative activities of the object of the analysis.Source : https://www.gov.kz/memleket/entities/vko-bilim/press/news/details/1070365?lang=kk

The International Forum of Archivists is taking place in Astana today. "ASTANA ARCHIVE FEST", "Archive: a new era, new opportunities", which discusses the role of archives in modern society, as well as trends in the development and transformation of archive activities in the modern information society.  On behalf of the Zhetisu region, Gulzhikhan Istanbekova, Director General of the Zhetisu State Archive, and Gulnaz Seikenovna Aitbekova, archivist, are taking part in the international scientific and practical conference. The pressing issues raised by this event are the creation and management of electronic archives as part of an electronic document management system, the digitization of archival funds to ensure their accessibility and safety, the use of artificial intelligence, machine learning and other advanced technologies for the analysis and processing of archived data, as well as the use of archived data to solve urgent problems in business, science and public administration.       The conference is being held with the participation of guests, representatives of the archival industry of the Russian Federation, Tatarstan, Azerbaijan, Uzbekistan, and Kyrgyzstan.Source : https://www.gov.kz/memleket/entities/zhetysu-archive/press/news/details/1070398?lang=kk

Bangkok, September 17, 2025 – For the first time, Central Asia Day was held in the capital of Thailand, organized by the Embassy of the Republic of Kazakhstan in cooperation with the Ministry of Foreign Affairs of Thailand at the country’s leading educational institution – Chulalongkorn University.The main highlight of the event was the announcement by the university leadership of the opening of a new Centre of Central Asian Studies. According to Prof. Dr. Suradech Chotiudompant, Dean of the Faculty of Arts, the department will serve as a platform for academic cooperation, scientific research, and cultural exchange between Thailand and the Central Asian countries.Ambassador-at-Large of the Thai MFA, Pongprach Makchang, announced the preparation of a business trip of a Thai delegation to Kazakhstan, which will include meetings with representatives of universities and government bodies.National pavilions of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan were presented at the celebration. Kazakhstan introduced two pavilions: the first showcased cultural heritage, traditional souvenirs, and household items, while the second, jointly prepared with Air Astana and Pearl Vacation travel agency, presented the country’s tourism potential and new travel opportunities.Guests of the event had a chance to experience the culture and traditions of the Kazakh people and taste national cuisine. The concert program featured Kazakh dances “Akku,” “Arular,” and “Koshbazar” performed by the local folk ensemble “Katyusha,” as well as the song “My Kazakhstan” by Serik Mussalimov, performed by university students.Central Asia Day gathered about 300 participants, including diplomats, representatives of Thai government agencies, academic and business communities, as well as the general public.Organizers noted that the event became an important platform for strengthening cultural ties, developing scientific and educational projects, expanding humanitarian and tourism cooperation, and promoting the positive image of Kazakhstan and the entire Central Asian region in Thailand.For reference: Chulalongkorn University is the oldest and one of the leading universities in Thailand. It was founded in 1917 by King Rama VI in memory of his father, King Chulalongkorn (Rama V). Today, it is the country’s largest national research center, consistently ranking high in international rankings. The university offers a wide range of educational programs and actively promotes international cooperation, being recognized as a flagship of Thailand’s academic and scientific progress.In 2024, trade turnover between Thailand and Kazakhstan amounted to USD 237 million, which represents about 70% of Thailand’s total trade turnover with Central Asian countries (around USD 340 million).Source : https://www.gov.kz/memleket/entities/mfa-thailand/press/news/details/1070422?lang=kk

On September 11, 2025, a meeting on the current implementation of the roadmap for securing additional reserves for the local budget was held at the regional Akimat, chaired by E.Sh. Karashukeev, Akim of the Zhambyl Region, with the participation of authorized bodies.T.K. Sarsembaev, Head of the State Revenue Department for the Zhambyl Region, reported on the current implementation of the roadmap.Overall, the state budget plan for the first eight months of 2025 was fulfilled by 102.7%, with 193.3 billion tenge received, an increase of 5.0 billion tenge, compared to the planned 188.2 billion tenge. The growth rate was 114.8%, or an increase of 24.9 billion tenge. The local budget's reported forecast was fulfilled by 104.9%, with revenues reaching 143.6 billion tenge, an increase of 6.7 billion tenge, compared to a planned 136.9 billion tenge. The growth rate was 118.7%, an increase of 22.7 billion tenge. To meet the reported forecast, additional reserves totaling 8.9 billion tenge were secured. This includes 2.5 billion tenge for desk audits, 1.1 billion tenge for audits, 1.5 billion tenge for non-production payments, and 0.9 billion tenge for other items. Implementation of the roadmap under the action plan with authorized bodies also resulted in additional budget revenues of 2.9 billion tenge. The report covers the following areas of activity: debt, public procurement, out-of-town contractors, investment projects, information on subsidies, issued permits, monitoring of trade activities, market operations, tenants of retail spaces, raids, property income, identification and legalization of migrant workers, measures to increase the taxable base for property and land taxes, negative impacts on the environment, water users, outdoor advertising, forest use, wildlife, rate increases, subsoil use issues, monitoring excisable products, etc.In his report, T. Sarsembayev focused on the failure of authorized bodies to provide information necessary for tax administration, and the need to ensure the registration in our region of taxpayers operating (investment projects) in the Zhambyl region, while registered in other regions. I urged all agencies involved in the roadmap's implementation to submit relevant information promptly and fully, to strengthen their efforts, and to actively participate in implementing the roadmap's outlined areas.The regional revenue agencies are continuously implementing the roadmap and will continue to do so.Overall, the current situation demonstrates positive results in implementing the outlined areas of the roadmap.Department of Explanatory Work and Contact Center DGD in Zhambyl regionSource : https://www.gov.kz/memleket/entities/kgd-zhambyl/press/news/details/1070423?lang=kk

Tour operators from South Korea, Hungary, and Germany arrived in the city of Shymkent on a business visit. As part of the trip, a Memorandum of Cooperation in the field of tourism was signed with Shymkent tour operators.The purpose of the document is to develop tourism ties in connection with the launch of new direct flights and to enhance the international tourism potential of Shymkent.The guests were introduced to the city’s main tourist attractions. The delegations visited the “Visit Shymkent” tourist information center, the “Shymkent Creative Hub” venue, the “Shym-Qala” historical and cultural complex (Citadel), the “Altyn Orda” gallery, and the “Seitjan Qari Eszhanuly” Mosque. In addition, national games — “Kokpar” and “Kyz kuu” — were showcased at the Shymkent Hippodrome.This agreement expands Shymkent’s international partnerships and gives new momentum to the development of tourism and cultural ties.Source : https://www.gov.kz/memleket/entities/shymkent-turizm/press/news/details/1070064?lang=kk

On September 15, 2025, the Department for Regulation and Control over the Activities of Bailiffs of the Department of Justice of the North Kazakhstan Region delivered a lecture on the topic "Prevention of Corruption in Government Bodies" at the North Kazakhstan Region Branch of Agrarian Credit Corporation JSC.Source : https://www.gov.kz/memleket/entities/adilet-sko/press/news/details/1070068?lang=kk

Abu Dhabi, September 17, 2025 – The Ambassador of the Republic of Kazakhstan to the United Arab Emirates, Rauan Zhumabek, presented his credentials to the Director-General of International Renewable Energy Agency (IRENA), Francesco La Camera.During the meeting, the parties discussed prospective areas of cooperation, including joint efforts to combat climate change and the development of renewable energy as a key factor in ensuring a sustainable future for humanity.The Kazakh diplomat emphasized the important role of IRENA as an authoritative international platform that unites countries in promoting renewable energy sources, and reaffirmed Kazakhstan’s readiness to actively participate in the Agency’s work, as well as to expand bilateral and multilateral partnerships.For his part, F. La Camera confirmed his participation in the upcoming international forum “KazEnergy Week – 2025”, which will take place in Astana on 2–4 October, 2025.At the conclusion of the meeting, both sides expressed their mutual interest in further strengthening cooperation.IRENA was established in Bonn on 26 January 2009. During its founding conference, the Agency’s Statute was signed by official representatives of 75 countries. Today, IRENA comprises 169 member states as well as the European Union.Source : https://www.gov.kz/memleket/entities/mfa/press/news/details/1070121?lang=kk

The State Institution "Apparatus of the Akim of the Samara District of the East Kazakhstan Region" announces the beginning of an internal analysis of corruption risks.Source : https://www.gov.kz/memleket/entities/vko-samar/press/news/details/1070124?lang=kk

The XXV session of the regional maslikhat was held with the participation of Nurlybek Nalibayev, the akim of the region. The meeting was attended by heads of law enforcement agencies, regional administrations and departments, city and district akims, and maslikhat deputies. Nine issues were discussed on the agenda.The regional head raised issues related to the implementation of large-scale work in the region and made his proposals.«Head of State Kassym-Jomart Kemelevich published his Address to the People of Kazakhstan, «Kazakhstan in the Era of Artificial Intelligence: Current Challenges and Their Solutions through Digital Transformation.»Now, together with you, we must implement the objectives of our President's Address efficiently and on time.I call on all of you to work together and responsibly for the benefit of the country.Today, large-scale investment projects have been intensified in our region, with the special support of the Head of State and the Government. The past eight months have seen growth in key macroeconomic indicators.This year, the regional budget amounted to 829 billion 200 million tenge, an increase of 228 percent compared to 2022. Of this, 477 billion 600 million tenge (58%) is allocated to the social sphere.The development budget increased from 62 billion tenge in 2022 to 214 billion tenge (3.5 times). These funds are aimed at addressing the region's most pressing issues, improving the quality of life, and implementing large-scale infrastructure projects.Today, the region has a favorable investment climate, and major projects are underway. While this year's planned investment target was over 631 billion 400 million tenge, the launch of new projects will exceed this target to 716 billion tenge. Currently, 408 billion 200 million tenge of investment has been attracted. This year, 27 projects worth 302 billion 500 million tenge will be launched. Ninety-six projects worth 166 billion 800 million tenge are under construction in the region.Over the past three years, 2.5 million square meters of housing have been commissioned using all funding sources. 623 apartment buildings in the city are provided with hot water. By the end of the year, the gasification rate will reach 83 percent.This year, the area under agricultural crops amounted to 189,600 hectares, of which 80,900 hectares were under rice. In accordance with the President's instructions, comprehensive measures are being taken to implement water-saving technologies and increase the area under crops requiring minimal irrigation», - said N. Nalibayev.A proposal to revise the 2025 regional budget was submitted at the session for consideration by the regional maslikhat. The goal is to ensure public safety, install video cameras to prevent crime, ensure the smooth operation of the upcoming heating season, acquire housing for socially vulnerable groups, enhance the architectural and planning appearance and tourism potential of Kyzylorda, provide residents with drinking water, install sewer networks, gasify the «Sabalak» village, and implement other large-scale projects.These funds were raised by increasing the regional budget's own revenues and reducing savings by budget program administrators.Zhanibek Syzdykov, head of the regional department of passenger transport and highways, and Serik Ergeshov, head of the regional police department, also spoke at the session.The maslikhat deputies supported the proposals, noting their urgent importance.Source : https://www.gov.kz/memleket/entities/kyzylorda/press/news/details/1070125?lang=kk

The new Banking Law will create conditions for further development of the fintech sector and regulation of digital financial assets.Madina Abylkassymova, Chairperson of the Agency for Regulation and Development of the Financial Market, during a presentation to the Majilis made this statement at a presentation to the Majilis of Parliament of the draft laws ‘Banks and Banking Activities in the Republic of Kazakhstan’ and ‘Changes and Amendments to Certain Legislative Acts of the Republic of Kazakhstan on the Regulation and Development of the Financial Market.’ The draft laws were developed for the purpose to implement the 2024 and 2025 Addresses of the Head of State.Today, new models for provision of financial services undergo active development, including financial services through marketplaces and various forms of interaction between banks and fintech companies."The Banking Law provides for expanded opportunities for banks to invest in capital of fintech companies operating in digital technologies, e-commerce, cybersecurity, biometrics, artificial intelligence, and telecommunications. "Along with that, limits will be set on the size and stake of banks in the capital of these companies for such investments," the Agency Chairperson stated.According to her, when a bank provides its technological infrastructure to another organization, the bank will bear on its own responsibility to clients of that organization for proper provision of the banking services."Key innovation of the draft law is introduction of regulation of digital financial assets (DFA) as a new asset class. The draft law envisages three types of DFA: the first are digital assets certifying claims to money – stablecoins; the second are digital financial assets backed by an underlying asset; and the third are financial instruments issued in digital form," emphasized Madina Abylkasymova.The National Bank will regulate issue and circulation of stablecoins. The Agency is authorized to fix requirements for issue and circulation of digital assets backed by an underlying asset and financial instruments issued in digital form."Issue of digital financial assets will be carried out by digital platform operators. These are new financial market participants activities of which will be licensed by the National Bank," Chief of the financial regulator added.Digital financial assets will be subject to requirements comparable to those established for traditional financial instruments, including risk management, disclosure, and investor protection. This will ensure transparency and reliability of their circulation."A significant block of amendments to the Draft Law is designed to upgrade the national financial infrastructure. Status of the digital tenge as a new form of national currency is legally fixed. The procedure for circulation and use of the digital tenge will be determined by the National Bank," the ARDFM Head stated.Moreover, it envisages stricter regulation of payment organizations. It is planned to establish extra requirements to their capital and risk management systems.The new Banking Law takes into account technological changes, growing role of the banking sector in economic financing, increased competition, and involvement of new market participants, as well as issues of promoting the fintech and liberalizing the circulation of digital assets.Source : https://www.gov.kz/memleket/entities/ardfm/press/news/details/1070131?lang=kk