The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan and the National Bank of Kazakhstan signed a trilateral memorandum of understanding with China’s National Financial Regulatory Administration (NFRA) following a meeting with NFRA Vice-Minister Zhou Liang. The memorandum is intended to strengthen Kazakhstan–China cooperation on the regulation of banking services, including arrangements aimed at preventing unlawful activity, reinforcing bank stability and protecting financial services consumers. The document is described as aligned with Basel Committee on Banking Supervision recommendations and other core international standards for bank regulation. Kazakhstan currently has three banks with Chinese participation, Industrial and Commercial Bank of China in Almaty, Bank of China Kazakhstan and Altyn Bank, whose combined assets total KZT 2.1 billion, equal to 3.3% of aggregate banking system assets, and whose combined equity capital totals KZT 368 billion.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2025-07-23
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan signs trilateral banking supervision cooperation memorandum with the National Bank and China’s NFRA
Kazakhstan's Financial Market Agency and National Bank signed a trilateral memorandum with China's National Financial Regulatory Administration to enhance banking regulation cooperation. The agreement aims to prevent unlawful activities, reinforce bank stability, and protect consumers, aligning with Basel Committee recommendations. Kazakhstan hosts three banks with Chinese participation, holding assets of KZT 2.1 billion, 3.3% of the banking system's total assets.