Kazakhstan Plans Major Financial Legislation Reform 

ALMATY – Kazakhstan is preparing a comprehensive reform of its financial legislation aimed at ensuring long-term economic growth and strengthening financial stability, Chairman of the National Bank of Kazakhstan (NBK) Timur Suleimenov announced during a government meeting on August 26.

According to Suleimenov, the National Bank has already taken measures to utilize banking liquidity in support of the real economy and will continue working to channel more funds into corporate lending, reported the Prime Minister’s press service.

To achieve this, the government introduces tax incentives designed to encourage banks to redirect liquidity from NBK instruments into profitable business projects rather than consumer loans.

“These reforms are aligned with the initiatives of President Kassym-Jomart Tokayev. We will continue active cooperation with the government to maintain macroeconomic stability and foster sustainable, inclusive growth. The National Bank will focus on ensuring price and financial stability to improve citizens’ well-being,” Suleimenov said.

He also announced that a large package of financial sector reforms is being prepared jointly with the Agency for Financial Regulation. The reforms will cover banking operations, payments, the securities market and other key areas.

Additionally, the plan includes introducing regulations for digital financial assets, developing a National Digital Financial Infrastructure, and further advancing the payment market. Authorities anticipate that these measures will enhance the financial sector’s contribution to the country’s economic development and improve the overall quality of life for citizens.

These reforms are aligned with the country’s broader economic strategy. Earlier, Deputy Prime Minister and Minister of National Economy Serik Zhumangarin presented the latest economic forecast, projecting Kazakhstan’s GDP to grow by 5.4% in 2026, with an average annual growth rate of 5.3% over the coming years.

The proposed reforms are expected to complement this baseline scenario, which aims to ensure sustainable and balanced economic growth.