About participation of the Agency's delegation in annual meetings of the IMF and World Bank
From October 13 to 18, 2025, a delegation from the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market, led by its Chairperson Madina Abylkassymova, participated in Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WB) in Washington, D.C., USA.
The program included a series of bilateral meetings and multilateral discussions on financial stability, macroeconomic development and regional cooperation.
A meeting was held with IMF Managing Director Kristalina Georgieva that covered the current state of Kazakhstan's banking sector, implementation of FSAP recommendations, measures to enhance financial stability, and provisions of the new Law on Banks and Banking Activities. At a separate meeting with IMF representatives, key reforms in Kazakhstan's financial sector and prospects for further cooperation in the area of regulation and supervision were discussed. During a meeting with Antonella Bassani, World Bank’s Vice President for Europe and Central Asia, issues related to improvement of corporate governance, implementing risk-based insurance supervision subject to Solvency II principles, and legislative initiatives to develop the investment fund market were discussed.
Moreover, Agency Chairperson Madina Abylkassymova spoke at a meeting of ministers and central bank governors of the Caucasus and Central Asia, chaired by IMF Deputy Managing Director Bo Li. In her speech, she emphasized importance of Kazakhstan's partnership with the IMF and presented key areas of financial sector reform, including introduction of risk-based supervision, development of digital financial asset regulation, and measures to strengthen regional cooperation and economic integration between countries of the Caucasus and Central Asia.
The delegation also participated in the Bank of Russia's Eurasian Roundtable, which discussed global and regional economic trends, national macroeconomic forecasts, development of monetary and fiscal policies, and cooperation of BRICS countries with the IMF.
Particular attention was paid to financial inclusion and promotion of women leaders in the economy. The Agency Chairperson participated in The 2nd Women Leaders’ Breakfast Discussion organized by the World Bank and chaired by Antonella Bassani. The discussion focused on ways to expand women's participation in the financial sector, enhance their role in shaping the future of the financial system, and ensure equal opportunities for all market participants.
On the sidelines of the Annual Meetings, a meeting was held with chief executives of the International Finance Corporation (IFC). Issues of implementation of the "Expanding Financial Inclusion for Growth in Europe and Central Asia" program were discussed, including development of financial and private sector institutions, as well as offers for improvement of the microfinance laws.
Furthermore, meetings were held with international rating agencies S&P, Moody's and Fitch, during which current macroeconomic trends, the state of Kazakhstan’s banking sector, and planned reforms to enhance resilience of the financial system were discussed. Areas for further cooperation in analyzing the banking risks and upgrade of the credit ratings of Kazakhstan’s banks and issuers were discussed.
Participation of the Agency's delegation in the Annual Meetings of the IMF and the World Bank has contributed to enhancement of Kazakhstan's international cooperation, advancing the reforms in the financial sector, and increasing confidence in the national financial system among international institutions and investors.