Foreign banks will have easier access to the Kazakhstan market

Amendments are being prepared in Kazakhstan to simplify the conditions for opening foreign banks. Madina Abylkasymova, head of the Agency for Regulation and Development of the Financial Market, announced this at a meeting of the Majilis. The amendments will reduce the list of documents for banks with a high rating and reduce asset requirements for branches. It is also planned to expand the permitted types of activities for foreign banks, including foreign exchange transactions and issuing payment cards. The changes are aimed at attracting foreign banks and increasing competition in the sector.