Women-owned small and medium enterprises across Europe and Central Asia continue to face a persistent financing gap, according to a new study by the World Bank. The study identifies 49 distinct barriers that prevent these entrepreneurs from accessing necessary debt and equity finance, ranging from deep-seated social norms to conflicting…
Kazakhstan’s tenge weakened after the National Bank announced plans to end the requirement for quasi-state-owned companies to sell a portion of their foreign currency earnings, although analysts said the measure’s actual impact on the exchange rate is likely to be limited. Over the past two trading sessions last week, the…
This week, Kazakhstan’s National Bank will lift the requirement for quasi-state-owned companies to sell 50% of their foreign currency earnings on the domestic market, a measure introduced last year to support the tenge. National Bank Governor Timur Suleimenov said the requirement was adopted as a temporary anti-crisis measure when the…
Banks’ May financial reports show that Otbasy Bank, unlike Kazakhstan’s universal lenders, has been largely unaffected by recent regulatory and tax changes. The specialized state-owned bank ranked first in loan growth, second in asset growth and third in deposit growth. Asset growth Total banking sector assets increased by 1.6 trillion…
Kazakhstan could exempt individuals from paying taxes on income generated from digital asset transactions on regulated platforms. The measure is intended to bring the purchase and sale of digital assets into a regulated legal framework, the Ministry of Artificial Intelligence and Digital Development said. On July 7, President Kassym-Jomart Tokayev…
The Asian Development Bank (ADB) has approved a multi-billion-yuan loan to Kazakhstan, but the decision was not unanimous. The U.S. voted against the loan. The board of directors approved a 3.4 billion yuan (about $500 million) loan to Kazakhstan to finance the second phase of the fiscal governance and financial…
Vyacheslav Kim, Kazakhstan’s richest businessman, co-owner of Kaspi.kz and the sole owner of Alatau City Bank, has registered a new holding company, United Group Alatau, at the Astana International Financial Centre (AIFC). The registration may signal plans to restructure the ownership of Alatau City Bank, according to Arman Batayev, a…
According to the Agency for Regulation and Development of the Financial Market (ARDFM), demand for cars in Kazakhstan has been largely satisfied. As of May 2026, the number of issued car loans fell by 37.3% compared to May 2025. In its May financial sector review, the agency reported that car…
Kazakhstan’s external debt continues to grow, increasing by nearly $1 billion in the first quarter of 2026. Debt continues to grow As of April 1, 2026, Kazakhstan’s external debt reached $182.8 billion, up $0.9 billion over the first quarter. According to official data, the increase was primarily driven by price…
The National Bank of Kazakhstan has granted the country’s first operating license to Astana-based cryptocurrency exchange service Pax Finance. The license allows the company to officially buy, sell and hold digital assets, as well as establish exchange offices and install crypto ATMs. The exchange service will operate under Kazakhstan legislation.…
Kazakhstani banks earned a combined 239.8 billion tenge (approximately $510 million) in May 2026, the highest monthly profit since the beginning of the year. While the five most profitable lenders remained largely unchanged, state-owned Otbasy Bank unexpectedly climbed to third place, according to statistics from the National Bank of Kazakhstan.…
Freedom Finansal Hizmetler A.Ş., a subsidiary of Freedom Holding Corp., has obtained approval from the Banking Regulation and Supervision Agency (BRSA) and the Turkish Competition Authority. The regulators approved the acquisition of a 99.32% stake in the share capital of Turkish Bank A.Ş. New chapter for Freedom in Turkey Freedom…
Freedom Holding Corp. has announced the appointment of Valeriy Kim as its chief financial officer (CFO). He previously served as vice president of finance at Freedom Holding Corp. and chief executive officer of Freedom Holding Operations LLP, a subsidiary of Freedom Holding Corp. Kim assumes the role from Evgeny Ler,…
Kazakhstan’s Senate has approved amendments that would allow citizens to transfer up to 100% of their pension savings to private asset management companies for trust management. Under current rules, contributors may transfer no more than 50% of their pension assets to private managers. The changes were announced by MP Askhat…
By the end of this year, Kazakhstan’s Ministry of Finance plans to issue up to $1.5 billion in Eurobonds and $500 million in yen-denominated bonds, according to Reuters, citing Finance Minister Madi Takiyev. «Our target is anywhere from $1 billion to $1.5 billion. We want to raise it in London.…
The days when domestic banks routinely posted record profits are over. Today, they are essentially competing to see which institution has suffered the least in the new operating environment. Kursiv Research examined how the income and expense structures of individual second-tier banks have changed to determine which business models are…
In its macroeconomic forecast for 2026-2028, the Eurasian Development Bank (EDB) said it expects the average exchange rate this year to be 490 tenge per U.S. dollar. According to the forecast, the rate could reach 500 tenge per dollar by year-end. Read also: How the Iran conflict will drive the…
According to the Association of Financiers of Kazakhstan (AFK), after several years of strong growth, the auto-lending market is slowing. In its Q1 car loan survey, the AFK reported that demand for car loans fell 11% year-on-year (YoY), to 1.2 million applications, amid stricter lending conditions, tighter regulation and a…
Kazakhstani banks are changing their funding structure. Deposits from Kazakhstani residents now account for 80% of funding, while foreign borrowing has reached $10 billion. According to Madina Abylkassymova, head of the Agency for Regulation and Development of the Financial Market (ARDFM), banks have written off stressed assets totaling $14.3 billion,…
Kazakhstan’s National Bank does not support the idea of raising taxes on people who own multiple apartments, arguing that the government should focus on taxing profits from real estate sales rather than imposing additional taxes on property ownership, according to the bank’s Governor Timur Suleimenov. Speaking at a briefing following…
The National Bank of Kazakhstan has cut its base rate to 17% for the first time since October 2025, bringing it below 18%. The decision was made at a Monetary Policy Committee meeting on June 5, 2026. The base rate will remain at 17% at least until the next National…
Kazakhstan’s banking sector increased deposits by 482 billion tenge ($1.03 billion) in April despite negative exchange-rate revaluation effects, primarily due to inflows from retail clients. The loan portfolio expanded by 316 billion tenge during the month. However, banks’ profits were 18.1% lower than in April 2025. Assets continue to grow…
Kazakhstan’s central bank is preparing sweeping changes to the country’s cryptocurrency market, ranging from a crypto amnesty to loans backed by digital assets. The plans were outlined by Binur Zhalenov, deputy chairman of the National Bank of Kazakhstan, at the Solana Summit, according to Forbes Kazakhstan. National Bank to create…
Most analysts and market experts expect the National Bank of Kazakhstan to cut its base rate for the first time in nearly eight months. Forecasts from Freedom Broker, Halyk Finance, and the Association of Financiers of Kazakhstan (AFK) all point to a rate reduction. Majority of experts expect a cut…
