About development of a new draft law of the Republic of Kazakhstan "Investment Funds"
At a press conference at the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market, Director of the Securities Market Department of the Agency Aidyn Dauletbak and Deputy Head of the Securities Market Development Department Gilmudinova Ruzalia spoke about the draft law "Investment Funds".
During his speech, A. Dauletbak indicated that recent years demonstrated a significantly growing interest in the stock market from retail investors. Number of retail investor accounts has soared 25 times for 5 years, reaching 4 million accounts.
Along with that, today there is a significant need to expand the range of high-quality financial instruments in the domestic market, including the collective investment market.
Taking timely measures to develop the collective investment market of Kazakhstan will help attract foreign capital and improve investment appeal of the country.
In this connection, the Agency, together with consultants from the World Bank, have developed a new draft law "Investment Funds".
The draft law was developed within implementation of the 2029 Concept of Investment Policy of the Republic of Kazakhstan, which provides for development of the collective investment market and its alignment with the best international practice.
In general, adoption of the Draft Law will have a positive impact on further development of the collective investment market due to creation of a regulatory environment which is clear to foreign investors, consistent with the best international practice, introduction of new financial products and ensuring relevant mechanisms for protection of rights and interests of investors.
External Communications Directorate