ALMATY – The 13th Congress of Kazakh Financiers highlighted the challenges and opportunities facing the financial sector, bringing together leaders of domestic and foreign central banks, financial institutions, government agencies, and market participants on Nov. 14 in Almaty, on the eve of National Currency Day, celebrated on Nov. 15.
Photo credit: The Agency for Regulation and Development of Financial Market
Panel sessions covered the impact of modern challenges on monetary policy, financial stability, and public trust in institutions, as well as developments in digital financial instruments and consumer protection.
Macroeconomic trends and inflation challenges
Timur Suleimenov, governor of the National Bank of Kazakhstan, emphasized the country’s economic performance, indicating the investment growth.
“Our economy is performing well – growth exceeds 6%, investment in fixed capital is rising, and diversification is progressing steadily, with positive results in transport, construction, and manufacturing. At the same time, inflation remains a challenge, although monthly inflation has slowed and inflation expectations are decreasing,” Suleimenov said.
He added that high economic growth and inflation management must go hand in hand.
“Investment growth and sectoral development are important, but the ultimate goal must be improving the welfare of the population. Real incomes and wages are a priority, and addressing high inflation is currently our top challenge,” he said.
Financial sector performance and market growth
Madina Abylkasymova, chairperson of the Agency for Regulation and Development of the Financial Market, noted strong growth across all market segments.
“Kazakhstan’s financial sector continues to demonstrate resilience and steady growth, actively supporting the country’s economic goals. Total assets of financial organizations have increased 9%, reaching 75 trillion tenge (approximately US$138.89 billion), or 51% of GDP,” Abylkasymova said.
She pointed to robust banking fundamentals, a strong capital adequacy ratio exceeding 20%, low non-performing loans, and significant growth in deposits. According to her, the insurance market and capital markets have also expanded.
The 13th congress provided a platform for industry leaders and policymakers to discuss emerging challenges, innovative solutions, and the sustainable development of Kazakhstan’s financial sector.
