Head of State receives Chairwoman of Agency for Regulation and Development of Financial Market

Kazakh Head of State Kassym-Jomart Tokayev has been briefed on the current state of the financial market and the progress on the tasks he gave to ensure the stability of the financial sector, the regulation measures adopted to promote crediting of the economy, and prevent excessive growth of consumer credit.

To meet the tasks set in the Address of the President, the Agency and the Government are set to provide support to subjects of small- and medium-sized businesses in the most-hit sectors by providing interest rate subsidies of 6% per year to final borrowers as part of the Entrepreneurship Road map – 2025.

The Agency’s Chairwoman also briefed the President on the legislative initiatives that are being prepared aimed at improving the insurance and stock markets. According to her, people’s access to pension and investment insurance products will be expanded, thus increasing people’s savings. Moreover, measures are to be undertaken to increase access of entrepreneurs to funding in the securities market.