Baku, Azerbaijan, March 14
Trend:
There are plans to eliminate the obstacles at the Kazakhstan Stock Exchange (KASE) that prevent trading of Eurobonds and securities in the stock market, Kazinform news agency reported.
Kazakhstan’s Finance Ministry can place Eurobonds on the platform of the Astana International Financial Centre in May-June 2018.
Meanwhile, the Centre’s manager Kairat Kelimbetov stressed that this is the only platform in Astana in terms of legislation and technologies, and such access is not available through KASE.
Moreover, the opening of brokers’ access to the market of foreign currencies is expected in KASE in the nearest future. They will be able to work with individuals with a limit of $100,000.
Initially, brokers will get permissions allowing to conduct certain non-banking operations, which will be prescribed in the regulatory framework. A full-fledged license will be envisaged in the legislation.
According to the estimates of KASE leaders, the amendments should be introduced in the first quarter of 2018. In this case, the exchange infrastructure will be set up for admission to trading with currency from the second quarter of 2018.