At a European Business Association of Kazakhstan (EUROBAK) event, Madina Abylkassymova, chair of Kazakhstan’s Agency for Regulation and Development of the Financial Market, reviewed capital and insurance market reform plans through 2030. The agency has prepared draft Capital Market and Insurance Market laws and plans to submit both to the Kurultai by the end of 2026. The bills would provide the legal foundation for two development programs prepared jointly with the National Bank of Kazakhstan, using technical support from the European Bank for Reconstruction and Development. Previously outlined capital market proposals seek to simplify securities issuance, improve secondary market liquidity and strengthen investor protection. The broader reform work includes upgrading market infrastructure and improving regulation and supervision with reference to international standards, including Solvency II and International Financial Reporting Standard 17. These plans follow five years of market expansion: equity market capitalization more than doubled to USD 74 billion, equivalent to 27% of gross domestic product. Over the same period, insurers’ assets doubled to KZT 3.9 trillion, while insurance premiums increased from KZT 699 billion to KZT 1.7 trillion.
Kazakhstan’s Agency for Regulation and Development of the Financial Market outlines 2030 capital and insurance reforms, with bills planned by end of 2026
Kazakhstan’s Agency for Regulation and Development of the Financial Market Chair Madina Abylkassymova reviewed capital and insurance market reform plans through 2030 at a EUROBAK event. Draft Capital Market and Insurance Market laws are planned for submission to the Kurultai by the end of 2026 to underpin development programs prepared with the National Bank of Kazakhstan. The broader reforms cover market infrastructure and supervision, alongside previously outlined measures to improve securities financing, liquidity and investor protection.