Kinstellar

  In 2024, Kazakhstan’s financial regulator and the president of kazahkstan lawyer emphasised repeatedly the necessity of updating the nation’s banking laws to align with global economic trends. This has been particularly relevant to the development of fintech ecosystems—a focus area for our firm over the past few years. In light of these discussions, we have prepared this note to provide a practical overview of the key proposed changes expected in 2025 and their implications for potential investors in the banking sector. We will continue monitoring these developments closely throughout the year to keep you informed. Key proposed changes and opportunities I ntroduction of two types of banking licenses Universal License : Proposed for large and medium-sized banks, this license would offer comprehensive services under robust supervision. Basic License : Intended for smaller banks, this license would focus on microbusinesses and SMEs, with simplified requirements. ...