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Astana, Kazakhstan • 24 October, 2023 | 08:49

Kazakhstan to Liberalize Requirements for Foreign Investors Entering Banking Sector

The regulator is drafting a number of legislative acts

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National Bank of Kazakhstan
National Bank of Kazakhstan

During the meeting with the President, Madina Abylkasymova, the Chairman of the Agency for Regulation and Development of Financial Market, spoke about plans to liberalize requirements for foreign investors entering the banking sector, QazMonitor reports.

"To implement the President's directive aimed at stimulating business lending, new prudential measures have been developed concerning the capital, liquidity, and collateral policies of banks, as well as boosting credit activity in foreign subsidiary banks. There are plans to liberalize the entry requirements for foreign investors in the banking sector," the press service of the Head of State announced.

The Agency has also developed and submitted draft laws to the Parliament on the sale of stressed assets through digital platforms, the reduction of the population's creditworthiness, the establishment of a uniform interest rate for all microcredits, stricter requirements for debt collection activities, and measures to combat financial fraud.

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