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Kazakhstan's gov't to develop national concept for financial sector dev't

Business Materials 23 February 2021 17:13
Kazakhstan's gov't to develop national concept for financial sector dev't

BAKU, Azerbaijan, Feb. 23

By Nargiz Sadikhova - Trend:

Kazakhstan’s Agency for Regulation and Development of Financial Market will work out a Concept for the Development of the Financial Sector until 2030 in cooperation with Kazakhstan’s National Bank, the Head of the Agency Madina Abylkassymova said, Trend reports citing the press office of the government.

"Within the framework of the Agreement between the Government, the National Bank, and the Agency on the coordination of macroeconomic policy measures for 2021-2023, the Agency is the main executor on the development of the financial market," Abylkassymova said.

She noted that the Agency will ensure the long-term stability of the financial system, including through the further expansion of risk-based supervision tools.

"A revision of the temporary prudential regulation measures introduced in 2020 to ensure the stability of the banking system and business lending will be carried out. To determine the strategic directions for the development of the financial market in the medium term, a Concept for the Development of the Financial Sector until 2030 will be developed this year," Abylkassymova.

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