Kazakhstan to Undertake Comprehensive Financial Legislation Reform
Kazakhstan is preparing a wide-ranging reform of its financial legislation to bolster long-term economic growth and strengthen financial stability, Chairman of the National Bank of Kazakhstan Timur Suleimenov announced during a government meeting on Aug. 26.
The reform package, developed jointly with the Agency for Financial Regulation, will address banking operations, payments, the securities market, digital financial assets, and the national digital financial infrastructure. The measures aim to increase the financial sector’s contribution to economic development, promote corporate lending through tax incentives, and advance the payment market.
“These reforms are aligned with the initiatives of President Kassym-Jomart Tokayev. We will continue active cooperation with the government to maintain macroeconomic stability and foster sustainable, inclusive growth. The National Bank will focus on ensuring price and financial stability to improve citizens’ well-being,” Suleimenov said.
Deputy Prime Minister and Minister of National Economy Serik Zhumangarin highlighted that the reforms complement the country’s broader economic strategy, projecting GDP growth of 5.4% in 2026 and an average annual growth of 5.3% in the coming years.
Photo credit: National Bank of Kazakhstan
