The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan reported that legislative amendments have eased the requirements for opening subsidiary banks and branches of foreign banks in Kazakhstan, including lowering entry thresholds and cutting administrative documentation. The package also expands the activities foreign bank branches may undertake to support equal competitive conditions with second-tier banks. For branch establishment, the minimum consolidated assets requirement for a foreign bank has been reduced from USD 20 billion to USD 10 billion. The documentation package has been streamlined, including by removing certain credit rating-related documents that the regulator can obtain independently from information systems, online sources, and the applicant’s home-country regulator; pre-launch requirements to have premises and a full staff in place one year before operations have also been eased. The amendments further provide for reserve-eligible assets of foreign bank branches to be placed in low-risk financial instruments to be specified in a Kazakhstan regulatory legal act, and permit foreign bank branches to conduct foreign exchange operations, provide custodial services, issue payment cards, participate in syndicated financing, and provide agency services, among other activities. The amendments described were brought into effect from 1 July 2025. The law also strengthens requirements relating to “impeccable business reputation” and enters into force from 31 August 2025.

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