At CFO SUMMIT XIII in Almaty, the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan outlined a shift in policy focus toward the stock market as a key source of long-term investment for the economy and announced plans to comprehensively revise the securities market legislative framework. The Agency will begin developing a Capital Market Development Programme to 2030 and a new law on the securities market jointly with the National Bank of Kazakhstan. The planned legislation is intended to create a flexible and stable ecosystem that can channel capital more effectively to the real economy. Work will be structured around expanding the investor base across institutional, retail and foreign participants, encouraging private-sector issuers to access the market, upgrading market infrastructure, increasing integration with global capital markets, introducing new products and innovations, strengthening corporate governance, and resetting the regulatory model toward a more risk-based and flexible approach. The Agency also flagged an assessment of current legislation with international and domestic experts, a move toward a unified baseline approach to securities market regulation, stronger synergy between the domestic market and the Astana International Financial Centre, an expansion of Kazakhstan Stock Exchange powers, and revisions to supervisory approaches prioritising systemic risk assessment. The Agency expects to develop the 2030 programme by September 2026 and to prepare the draft of the new securities market law by end-2026.

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