The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan presented a new draft law “On Investment Funds”, developed jointly with World Bank consultants, aimed at updating the regulatory framework for collective investments and aligning it with international best practice. The Agency linked the initiative to rising retail participation in the securities market, noting that the number of retail investor accounts increased 25-fold over five years to 4 million. It also highlighted a need to expand the range of quality financial instruments in the domestic market, including in collective investments, and positioned the bill as part of Kazakhstan’s investment policy concept through 2029. The Agency expects the draft law, if adopted, to support further development of the collective investment market by creating a regulatory environment that is clearer for foreign investors, enabling new financial products, and strengthening mechanisms to protect investors’ rights and interests.

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