The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan reported on the International Monetary Fund (IMF) Article IV mission’s consultations with Kazakhstan, held in Almaty and Astana from 6–19 November, including a meeting with Chair Madina Abylkassymova. Following the discussions, the IMF mission issued a concluding statement that described the banking system as resilient while highlighting consumer lending growth as an area requiring particular attention. The statement noted strong capital, liquidity and profitability metrics at second-tier banks and a persistently low share of problem assets. It also pointed to the potential for additional prudential measures to further strengthen financial stability, and it positively assessed the agency’s prudential measures aimed at minimising risks in consumer credit. The IMF team cited substantial progress in implementing key Financial Sector Assessment Program (FSAP) recommendations and identified priorities including a new mechanism for dealing with insolvent banks and introducing regulation and supervision in the digital assets area under the new Banking Law, alongside further strengthening of the regulator’s institutional capacity, including through additional resources where necessary.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2025-11-21
Kazakhstan’s Agency for Regulation and Development of the Financial Market reviews FSAP progress and the new Banking Law with IMF Article IV mission
The Agency for Regulation and Development of the Financial Market of Kazakhstan reported on the IMF Article IV mission’s consultations, highlighting the resilience of Kazakhstan's banking system and the need to monitor consumer lending growth. The IMF noted strong metrics in second-tier banks and suggested additional prudential measures for financial stability. Priorities include addressing insolvent banks, regulating digital assets, and enhancing the regulator's institutional capacity.