The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan (hereinafter - the Agency) "On credit rating agencies" and "On introducing changes and additions to some legislative acts of the Republic of Kazakhstan on issues of rating activity" drafts of the Laws of the Republic of Kazakhstan (hereinafter - the draft Laws). It was developed in the framework of the implementation of subsection 2) of paragraph 2. According to it, it is intended to create appropriate conditions for the creation of local rating agencies and to determine the optimal mode of their regulation and supervision.

The draft laws were developed in accordance with the Resolution of the Government of the Republic of Kazakhstan No. 907 of December 29, 2016 "On approval of the principles of legislative work of the Government of the Republic of Kazakhstan" and are aimed at establishing the legal status and principles of the activity of credit rating agencies. It is intended to establish the requirements for corporate management of credit rating agencies, as well as to define the powers of the body that monitors their activities.

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Source : https://www.gov.kz/memleket/entities/ardfm/press/news/details/966495?lang=kk