Tether, the issuer of USDT, the world’s most widely used stablecoin pegged to the U.S. dollar, has signed an agreement with the National Bank of Kazakhstan and the administration of the city of Alatau, Kazakhstan’s new flagship megaproject. The parties have agreed to explore the possibility of launching a stablecoin pegged…
Kazakhstan’s government securities have moved closer to global financial markets. Following a review of the 2026 classification, J.P. Morgan placed Kazakhstan’s bonds on Index Watch-Positive. Kazakhstan’s Ministry of Finance highlighted that this development paves the way for the potential inclusion of Kazakhstani government securities in the leading emerging-market bond index,…
Altyn Bank, a subsidiary of China CITIC Bank Corp. Ltd., has begun accepting retail deposits in Chinese yuan. Starting Oct. 5, 2026, individuals can open term and savings deposits denominated in yuan at the bank. The “Gold Reserve” yuan deposit is already available among the bank’s products. Customers can add…
Kazakhstani banks can now set the validity period for bank cards issued to foreigners at their own discretion, Oninvest reported. Previously, such cards were subject to a 12-month limit. The changes took effect as part of amendments to the internal control rules aimed at preventing the legalization of criminal proceeds…
According to Timur Turlov, CEO and majority shareholder of Freedom Holding Corp., the company is training an AI agent to assist Freedom SuperApp users. The company expects the agent to help users choose investment and insurance products, book travel and flights, and even apply for visas. «We want to ensure…
Uzbek fintech company Alif Moliya is preparing to issue Islamic sukuk in Kazakhstan, economist Arman Batayev said. To facilitate the issuance, a special-purpose company, Alif Moliya Sukuk SPC Ltd., was registered at the Astana International Financial Centre (AIFC) on Sept. 3. It will serve as the issuance vehicle for the…
Kazakhstanis expect cryptocurrencies to become part of their everyday financial lives, including for paying for goods and services, within the next three to five years. That is according to a 2026 survey of 1,930 users conducted by Binance Kazakhstan. The study found that 32.8% of participants cited paying for goods…
Existing insurance companies in Kazakhstan will be able to establish «Islamic windows» without creating separate legal entities, according to the Agency for Regulation and Development of the Financial Market (ARDFM). The initiative is aimed at developing Islamic insurance, known as takaful. Takaful means «providing mutual guarantees.» It is an insurance…
Kazakhstan has signed an agreement with the Asian Infrastructure Investment Bank (AIIB) that will allow it to attract up to $6 billion in additional loans. Minister of National Economy Serik Zhumangarin said foreign borrowing poses no threat to the country’s economy. During a recent briefing at the Kurultai, Kazakhstan’s new…
Key management personnel across Kazakhstan’s commercial banks saw dramatic shifts in compensation driven by corporate restructuring, deferred bonus accounting, and equity-based incentive programs. Recognized executive compensation expenses in annual audited financial statements do not always reflect actual cash paid during the reporting period, as long-term incentive plans, deferred bonuses, and…
Cash accounts for 12% of consumer payment volume in Kazakhstan. By this measure, the country has nearly caught up with leading global economies and surpassed several emerging markets, according to the annual national study «Fintech in Kazakhstan 2026.» Kazakhstan’s figure is close to those of the U.S., where cash accounts…
Commercial banks in Kazakhstan are confronting a sharp deceleration in credit expansion alongside accelerating credit risks, as non-performing loans surge three times faster than healthy loan books. The aggregate sector net profit dropped 14.9% year-over-year to 1.40 trillion tenge (about $3 billion) over the first seven months of 2026. Profitability…
Two years ago, Freedom launched its SuperApp with mobile banking as the core element. Since then, it has expanded into dozens of other services — from travel and shopping to telecommunications and government services — and its user base has grown to 6 million. As a result, the SuperApp team…
Kazakhstanis are being lured into supposedly lucrative investment schemes using deepfakes of well-known figures and fake investment platforms. Over the past month and a half alone, 119 cases of fraud involving this scheme have been recorded in Kazakhstan, according to the Prosecutor General’s Office. Scammers place advertisements on TikTok, Instagram,…
Kazakhstan’s tax reform has had only a limited impact on strengthening the state’s revenue base, according to the National Bank of Kazakhstan’s August 2026 Monetary Policy Report. Budget deficit widens In the first half of 2026, the overall state budget deficit rose to 3.2% of gross domestic product (GDP), exceeding…
A proposal in Kazakhstan would allow digital asset owners to resolve tax liabilities arising from past transactions by disclosing their assets and transferring them in full from foreign or other unregulated platforms to licensed Kazakhstani digital asset service providers. The proposal is included in amendments to the Tax Code. Tax…
The National Bank is working to expand QR payment access for Kazakhstanis in China, India, the UAE and several other countries by mid-2027. According to National Bank Deputy Chairman Binur Zhalenov, who took part in the Central Asia Fintech Summit 2026, the regulator is continuing work to enable cross-border payments…
Timur Suleimenov, governor of the National Bank of Kazakhstan, believes the country needs to move away from a rigid, bank-centric financial system in which banks account for 80% or more of the entire financial sector. Read also: High deposit inflows meet rising credit stress in Kazakh banking. He said brokers,…
Abu Dhabi Commercial Bank Kazakhstan (ADCB) Chairman Farooq Al Marzooqi announced during a meeting with Kazakhstan’s Prime Minister Olzhas Bektenov that the bank intends to triple financing for Kazakhstani projects over the next 18 months. The current figure stands at 2.5 trillion tenge (approximately $5.5 billion). The parties discussed expanding…
National Bank of Kazakhstan Governor Timur Suleimenov expressed hope that inflation will decline significantly by the end of September or October, allowing the National Bank to cut its base rate more aggressively than previously anticipated. The recently reduced base rate stands at 16.25%. «As long as inflation remains high and…
Kazakhstan’s Ministry of Finance is taking orders for two yuan-denominated bond issues, according to the Finmentor Telegram channel. Kazakhstan had already raised 3.4 billion yuan through its debut sovereign panda bond issue in China earlier this year. According to economist Arman Batayev, the Astana International Exchange (AIX) is collecting orders…
The National Bank of Kazakhstan reduced the base rate from 16.75% to 16.25%. The decision was made at a Monetary Policy Committee meeting on Sept. 4. This marks the third consecutive reduction in the base rate, following cuts in June and July from 18% to 17% and from 17% to…
Lion Finance Group, the parent company of Bank of Georgia, hasn’t approached Kazakhstan’s regulator about acquiring a local bank, Madina Abylkassymova, chair of the Agency for Regulation and Development of the Financial Market, told Kursiv.media. «The agency has not received any application from the company, and at present we have…
Lion Finance Group Plc, a Georgian banking group that controls Bank of Georgia, is planning to expand into the Central Asian market. According to CEO Archil Gachechiladze, the group plans to acquire large banks in Kazakhstan and Uzbekistan, as well as in the Baltics and the Balkans. Interestingly, Lion Finance…
