Meeting with the Deligation of the Hungarian National Bank

During Astana Finance Days, a meeting was held between a delegation of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market, led by Chairperson Madina Abylkassymova, and Mr. Csaba Kandrács, Deputy Governor of the Hungarian National Bank.

The parties discussed prospects for expanding cooperation in the banking sector, as well as challenges in financial regulation related to the growing use of digital assets and cryptocurrencies, the introduction of distributed ledger technologies, the increased risk of fraud, and the emergence of regulatory gaps between traditional financial institutions and new market participants.

Earlier, during the state visit of the President of the Republic of Kazakhstan, Kassym-Jomart Tokayev, to Hungary, the Agency and the Hungarian National Bank (Magyar Nemzeti Bank) signed a Memorandum of Understanding on cooperation in the banking sector. The signing ceremony took place on 20 November 2024 in the presence of the leaders of the two countries.

The Memorandum aims to enhance cross-border banking supervision in line with the standards of the Basel Committee on Banking Supervision and creates new opportunities for closer cooperation between the Agency and the Hungarian National Bank.