On May 28–29, events organized by the Shanghai Cooperation Organization (SCO) were held in Bishkek, during which participants discussed the establishment of the SCO Development Bank, the expansion of financial cooperation among member states, and the improvement of multilateral cooperation mechanisms. Kazakhstan was represented at the events by     Vice  Minister of Finance Dauren Kenbeil. Participants paid particular attention to issues related to the formation of the future financial institution, as well as the development of modern financing instruments and the digitalization of the financial sector.

On May 28, 2026, the third consultative meeting on the establishment of the SCO Development Bank took place. During the discussions, D. Kenbeil noted the need for non-sovereign financing, the formation of authorized capital using local currencies and alternative instruments, as well as the determination of requirements for the location of the headquarters.

The participants in the negotiations reaffirmed the importance of establishing the SCO Development Bank and their commitment to advancing the multilateral consultative process.

On May 29, 2026, a meeting of finance ministers and central bank governors from SCO member states was held.

During the meeting, participants discussed ways to expand financial cooperation and establish new mechanisms for collaboration. Particular attention was paid to pressing issues facing the modern international financial system, as well as the digitalization of public finances.

In his speech, D. Kenbeil outlined the key directions for the development of Kazakhstan’s financial system amid the transition to a model of a technologically independent and innovative state. Particular attention was paid to the digitalization of public finances and the successful debut issuance of Panda bonds on the Chinese stock market.

Following the meeting, SCO member states expressed confidence in the development of the partnership and the achievement of mutually beneficial goals.

Source : https://www.gov.kz/memleket/entities/minfin/press/news/details/1231052?lang=ru