Tokayev Calls for New Banking Law to Boost Economic Activity and Fintech Growth

Sunday, 1 September 2024, 17:00

Tokayev has called for a new banking law aimed at stimulating economic activity and enhancing the fintech sector in Kazakhstan. This initiative responds to current economic challenges and seeks to foster innovation in financial services. The proposed law is expected to attract investments and drive growth in the fintech industry.
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Tokayev Calls for New Banking Law to Boost Economic Activity and Fintech Growth

New Banking Law Proposed by Tokayev

In a move to stimulate economic activity, President Kassym-Jomart Tokayev has initiated the discussion of a new banking law. This new legislation is crafted to address contemporary challenges while promoting the development of the fintech sector in Kazakhstan.

Importance of Fintech Development

  • Drives economic growth
  • Encourages investments
  • Enhances financial accessibility

The proposed law aims to create a more favorable environment for financial technology. The growth in the fintech sector is crucial for bringing innovative solutions that can benefit the economy.

Next Steps in Implementation

  1. Conduct stakeholder consultations
  2. Draft the legislation
  3. Present the law to Parliament

This move by Tokayev is seen as a pivotal step in aligning Kazakhstan's banking regulations with the demands of a rapidly advancing financial landscape.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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