Kazakhstan announces major financial legislation reformsKazakhstan is preparing a sweeping reform of its financial legislation in 2025, National Bank Chairman Timur Suleimenov announced on Tuesday during a government meeting."In line with the president’s directive, a major package of financial legislation reforms is being prepared this year, covering the banking sector, payments, securities market and other areas," Suleimenov said.The planned changes include regulating digital financial assets, implementing a National Digital Financial Infrastructure and further developing the payment market."These measures will strengthen the financial sector’s contribution to economic growth and public welfare, boosting both traditional and emerging sectors," the National Bank chief added.Suleimenov also said that the National Bank will continue ensuring macroeconomic and financial stability, particularly amid rising volatility. Kazakhstan will maintain a disinflationary policy, supplementing monetary tools with additional measures."Currency operations related to gold purchases will continue to be mirrored. A decision has been made to introduce a countercyclical capital buffer for retail loans. We also plan to raise minimum reserve requirements for banks. The National Fund and the Unified Accumulative Pension Fund will increase their holdings of high-yield assets," he said.The financial sector’s digital transformation will also advance, with plans to scale up the digital Tenge, including its integration into new areas of public finance, according to Suleimenov. (ICE ALMATY)

Fonte notizia: INTERFAX