The Agency has approved the following executives in the securities market:
A delegation of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market, led by Chairperson Madina Abylkasymova, paid a visit to Japan. As part of the visit, meetings were held with Yutaka Ito, Commissioner of the Financial Services Agency (JFSA), and Takashi Hashimoto, Commissioner of the Securities and Exchange Surveillance Commission (SESC).
During the meeting with the JFSA, Ms. Abylkasymova highlighted the significant potential for closer alignment of regulatory approaches to support cross-border investment, as well as for the integration of advanced tools and technologies into the financial ecosystem.
The importance of technical assistance and the exchange of expertise from Japan in the area of capital market reforms was emphasized, taking into account Japan’s successful experience in developing the Capital Market Development Program through 2030 and the new Law on the Securities Market.
The parties emphasized the importance of further strengthening cooperation between regulators and expressed their readiness to sign a Memorandum of Understanding. The document will facilitate information exchange, consultations on financial stability issues, and the development of cooperation in financial regulation and supervision, consumer protection, and the adoption of international best practices.
During the meeting with the SESC, the parties discussed issues related to the further development of the capital market, including maintaining investor confidence, ensuring market integrity, and enhancing the resilience of the financial system.
The parties agreed to strengthen cooperation through the exchange of experience and the adoption of advanced international practices in monitoring market activities using digital technologies and data analytics, as well as in ensuring transparency of corporate reporting and high-quality disclosure.
External Communications Directorate
press@finreg.kz
The Agency has approved the following key executives in the insurance sector:
*In accordance with the qualification requirements established by the Law of the Republic of Kazakhstan "On Insurance Activities", a key executive who has obtained approval from the authorized body for appointment to a leadership position may transfer to a similar position within the same sector without additional approval.
You can review the issued approvals for leadership positions in the section "Insurance Sector" -> "Registers of Permits and Notifications" -> "Register of Active Approvals for Appointment (Election) of Key Executives".
1) In accordance with Resolution № 26 of the Board of the Agency dated 30 March 2026, permission was granted to Alla Alexandrovna Mashkevich to acquire the status of a major (indirectly) shareholder of the Eurasia Insurance joint-stock company.
2) In accordance with Resolution № 27 of the Board of the Agency dated 30 March 2026, permission was granted to Anna Alexandrovna Mashkevich to acquire the status of a major (indirectly) shareholder of the Eurasia Insurance joint-stock company.
3) In accordance with Resolution № 28 of the Board of the Agency dated 30 March 2026, permission was granted to Larisa Vasilyevna Mashkevich to acquire the status of a major (indirectly) shareholder of the Eurasia Insurance joint-stock company.
1) In accordance with Resolution № 20 of the Board of the Agency dated 30 March 2026, permission was granted to Alla Alexandrovna Mashkevich to acquire the status of a major (indirectly) shareholder of the Eurasian Bank joint-stock company.
2) In accordance with Resolution № 21 of the Board of the Agency dated 30 March 2026, permission was granted to Anna Alexandrovna Mashkevich to acquire the status of a major (indirectly) shareholder of the Eurasian Bank joint-stock company.
3) In accordance with Resolution № 22 of the Board of the Agency dated 30 March 2026, permission was granted to Larisa Vasilyevna Mashkevich to acquire the status of a major (indirectly) shareholder of the Eurasian Bank joint-stock company
The Agency of the Republic of Kazakhstan for Financial Market Regulation and Development has approved Yerlan Butin for the position of Member of the Management Board of JSC «Nurbank» (Protocol No. 24/ БВУ/П dated March 30, 2026).
The Agency of the Republic of Kazakhstan for Financial Market Regulation and Development has approved Kiril Bachvarov for the position of Deputy Chairman of the Management Board – Member of the Management Board of JSC «Halyk Bank of Kazakhstan» (Protocol No. 23/ БВУ/П dated March 26, 2026).
The Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market has approved the appointment of Irina Pasternak as Chief Accountant of JSC «Home Credit Bank» (subsidiary of JSC «ForteBank»), (Protocol No. 22/BVU/T dated March 19, 2026).
The Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market has granted permission to Abu Dhabi Commercial Bank PJSC to establish a subsidiary bank in the Republic of Kazakhstan.
The entry of a new foreign bank is in line with the instruction of the Head of State, Kassym-Jomart Tokayev, to enhance competition in the banking sector and reflects the outcomes of the Agency’s reforms aimed at liberalising banking legislation and creating an open, transparent, and competitive environment to attract reputable foreign banks to Kazakhstan.
ADCB is one of the largest banks in the United Arab Emirates. Its principal shareholder is Mubadala Investment Company PJSC, an investment company wholly owned by the Government of Abu Dhabi, ensuring a high level of institutional support and reliability.
The bank holds strong international credit ratings (A+/F1/Stable by Fitch Ratings). As of 31 December 2025, ADCB’s total assets exceeded USD 210 billion, equity amounted to over USD 24 billion, and net profit for the year exceeded USD 3 billion. These financial indicators demonstrate the bank’s strong financial position and its capacity to provide long-term support to its subsidiary.
ADCB will act as the sole shareholder of the subsidiary bank. The parent bank will ensure the formation of the authorised capital, as well as provide strategic, financial, and operational support in accordance with the legislation of the Republic of Kazakhstan.
The new bank intends to offer a full range of banking services and to develop Islamic finance through an “Islamic window”, which will expand the range of products and increase the availability of alternative financial instruments in the market. A universal banking licence, in accordance with the new Law “On Banks and Banking Activities in the Republic of Kazakhstan”, is expected to be obtained following the establishment of internal infrastructure and completion of all preparatory activities for the launch of operations.
Based on the submitted application and supporting documentation, the Agency, by Resolution of the Board No. 8 dated 20 March 2026, granted ADCB permission to establish a subsidiary bank — Joint Stock Company “Abu Dhabi Commercial Bank (Kazakhstan)”, as well as consent for the newly established bank to acquire the status of a banking holding company (Resolution No. 9 dated 20 March 2026) and permission to establish a subsidiary organisation (Resolution No.10 dated 20 March 2026).
The establishment of the new bank will contribute to increased competition in the banking sector of the Republic of Kazakhstan, expansion of financial services for businesses and the public, and attraction of international banking capital.
External Communications Directorate
press@finreg.kz