On the Agency's participation in the Spring Meetings of the International Monetary Fund and the World Bank

The delegation of the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market (hereinafter referred to as the Agency), led by Chairperson M. Abylkassymova, participated in the Spring Meetings of the International Monetary Fund and the World Bank in Washington, D.C. (USA).

During the event, the Agency's leadership conducted negotiations with representatives of the International Monetary Fund, the World Bank, the International Finance Corporation (IFC), the rating agencies Moody's and S&P. In particular, discussions were held with the Deputy Managing Director and Executive Director of the IMF, heads of relevant departments, and IMF and World Bank Mission chiefs on current issues related to the development and regulation of Kazakhstan's financial market.

Special attention was paid to discussing the results of the Financial Sector Assessment Program (FSAP) and plans for implementing the recommendations of this program. In this context, further cooperation was considered to enhance approaches to regulating insolvent banks, supervisory methodologies for consumer protection and behavioral supervision based on risk assessment, consolidated supervision of financial institutions, and legislative requirements for disclosing key prudential indicators, risk management systems, and corporate governance.

On the sidelines of the Spring Meetings, negotiations were also held with central bank governors and heads of international financial organizations to exchange views on the current macroeconomic situation in the region and prospects for further expanding cooperation. Agreements were reached with the Presidents and Governors of the European Central Bank, Hungarian National Bank, Austrian National Bank, and the Central Bank of the Republic of Türkiye to strengthen cooperation and develop cross-border banking and investment partnerships.

Consultations were also held with the leadership of the Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury, as well as the Office of Sanctions Coordination of the U.S. Department of State on sanctions-related matters. The Agency's delegation also participated in a roundtable at the Atlantic Council's analytical center and met with members of the Kazakhstan-American Business Council at the U.S. Chamber of Commerce.

 

External Communications Division

+7 (727) 237 1089, press@finreg.kz