The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has revised its draft law on banks and banking activities to state explicitly that ensuring financial stability is its primary objective, taking precedence over other tasks. The change was introduced in the draft law prepared on the instruction of the Head of State. Alongside this clarification, the review of the existing framework removed duplicative and outdated provisions, with some general articles excluded from the draft and retained in the law on state regulation of the financial market to simplify the new banking law and harmonise the legal base. The draft is structured around the bank life cycle, covering processes from establishment and licensing through to liquidation, and is positioned as a rewrite of the 1995 banking law that has been extensively amended over three decades, with the stated aim of addressing modern challenges, supporting economic activity and enabling further development of the financial technology sector.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2025-04-14
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan makes financial stability its overriding objective in draft banking law
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has revised its draft law on banks to prioritize financial stability as its primary objective. The draft law, a rewrite of the 1995 banking law, removes outdated provisions and is structured around the bank life cycle, from establishment to liquidation, to address modern challenges and support economic activity and financial technology development.