Baiterek Holding discusses financial sector development with banks of Kazakhstan
On February 13, a working meeting was held with leaders of Kazakhstan's financial sector to discuss improving financial mechanisms and economic lending, Kazinform News Agency learned from the press service of Baiterek Holding.
Those attending the event were the Governor of the National Bank of Kazakhstan, Timur Suleimenov, the Chairwoman of the Agency for Regulation and Development of the Financial Market, Madina Abylkassymova, as well as executives from second-tier banks. The Chairman of the Management Board of JSC "National Managing Holding Baiterek," Rustam Karagoyshin, also participated in the meeting.
Special attention was given to expanding lending to the real sector and creating a loan guarantee mechanism for small and medium-sized businesses through a dedicated guarantee fund based on Baiterek Holding’s subsidiary, JSC "Damu Entrepreneurship Development Fund." A decision was made to intensify efforts and enhance the status of the Project Office for investment projects using syndicated (joint) financing and co-financing tools.
The meeting also covered measures to fulfill the President's directive on supporting citizens with outstanding loans. Market participants presented mechanisms to reduce the level of non-performing loans and the debt burden of the population.
Additionally, information was provided on the current status of the National Digital Financial Infrastructure, including the introduction of the digital tenge, the development of an Anti-Fraud Center, and national payment systems. The new draft law on banking includes provisions for the functioning of this infrastructure, the distribution of responsibilities among participants, and the mandatory connection of all financial market players to its services. Conceptual approaches to establishing a regulatory framework for the circulation of digital financial assets were discussed jointly with the financial sector.
Commenting on the meeting's outcomes, Rustam Karagoyshin, Chairman of the Management Board of JSC "Baiterek" Holding, stated:
"We continue to develop business support mechanisms aimed at improving entrepreneurs' access to financing. The creation of a special guarantee fund within JSC ‘Damu’ is an important step in this direction, contributing to the expansion of SME lending and stimulating economic growth."
Following the meeting, an agreement was reached to systematize joint efforts on key issues related to financial market development and economic lending.
Earlier, it was reported that in 10 months of 2024, Baiterek Holding’s agricultural financing stood at 640 billion tenge, which is more than the figure of 2023 by 15.4%.
