Strategic priorities for the development of the securities market were announced at the CFO SUMMIT XIII

The CFO SUMMIT XIII was held in Almaty, where issues of financial market development and corporate governance were discussed. The summit was attended by Deputy Chairman of the Agency for Regulation and Development of the Financial Market Nurzhan Tursunkhanov.

During his speech, Nurzhan Tursunkhanov noted that after the systemic modernization of the banking sector, the priority of state policy is shifting towards the stock market as a key source of long-term investments in the economy.

"The Head of State has set us a large–scale and strategically important task - to comprehensively review the structure of legislation on the securities market, taking into account advanced international practices and the needs of the modern economy. In order to achieve this goal, the Agency, together with the National Bank, is starting to develop a program for the development of the stock Market until 2030 and a new Law on the Securities Market," Nurzhan Tursunkhanov stressed.

The adoption of the new Law is aimed at building a flexible and sustainable ecosystem capable of effectively redistributing capital to the real sector of the economy. This work will be structured in seven key areas, such as expanding the investor base at the expense of institutional, retail and foreign participants, stimulating the entry of private sector companies into the stock market, improving the infrastructure of the stock market, increasing the integration of the stock market into global capital markets, introducing new financial products and innovations in the stock market, developing corporate governance and comprehensive reboot of the regulatory model.

In parallel, measures are envisaged to deepen integration into global capital markets, improve corporate governance and move towards a more risk-based and flexible regulatory model. The implementation of these measures will increase the flexibility of stock market regulation, create a favorable environment for innovation and promote the development of the capital market.

"Together with leading international and Kazakhstani experts, an assessment of the relevance of current legislation will be carried out and a unified, systematic basic approach to securities market regulation will be formed. The work will focus on ensuring synergy between the domestic stock market and the AIFC, expanding the powers of KASE and reviewing oversight approaches with a focus on assessing systemic risks," said the Agency's Deputy Chairman.

The stock market development program until 2030 will be developed by September 2026, and a draft new law on the Securities Market will be prepared by the end of this year.