BAKU, Azerbaijan, Dec. 4
By Nargiz Sadikhova - Trend:
Kazakhstan’s Agency for the Financial Market Regulation and Development has taken measures to ensure the stability of the activities of the local financial institutions and organizations under the conditions of unfavorable foreign economic situation, a source in the agency told Trend.
The Board of the Agency adopted Resolution No 19 which suspended implementation of certain articles of some state legislative documents in Kazakhstan, including those regulating the issues of prudential regulation of professional stock market participants (PSMP) from March 30, 2020 through September 30, 2020.
According to the source, for the purposes of reducing the pressure on capital and liquidity, a special regime of the prudential regulation has been established for the PSMP.
The deadlines for the provision of some reporting types by professional stock market participants for the effective period of the state of emergency in Kazakhstan were extended through the Decision No 42 of the Board of the country’s National Bank.
At the same time, in August 2020, due to the improved sanitary-epidemiological situation in Kazakhstan, there began a gradual softening of the quarantine measures, in connection with which some economic industries have recovered, which is evidenced by 20.5-percent growth in the country’s short-term economic indicator compared to July 2020.
"The key indicators of the stock market have also improved. Thus, the volume of trading shares in August reached the highest level in 2020, exceeding the pre-crisis one,” said the agency. “The total value of assets of brokers and (or) dealers and managers of investment portfolio made up 394.1 billion tenge ($931.9 million), thus rising by 37 percent compared to the beginning of this year, while their share capital increased by 29 percent, equaling 276.4 billion tenge ($653.6 million).”
(1 USD = 422.94 KZT on Dec.4)