Friday27 December 2024
toshkent24.com

Kazakhstan has approved a strategy for the digitalization of financial market regulators, set to be implemented by 2029.

The National Bank of Kazakhstan has approved a strategy for the digital transformation of the financial market for the years 2025–2029. This decision was made during a board meeting where key issues regarding the regulator's operations were discussed. This information was reported by Bizmedia.kz.
В Казахстане одобрили стратегию цифровизации финансовых регуляторов до 2029 года.

The new strategy aims to strengthen Kazakhstan's leadership in the field of digital transformation of the financial system. The plan includes the establishment of a digital central bank, ensuring equal access to digital infrastructure for all market participants, and the implementation of modern data management methods. Furthermore, it is expected to reduce regulatory burdens through process standardization and the development of new technologies.

Within the framework of the strategy, over 100 projects are planned. These encompass the development of advanced infrastructure, the creation of centralized IT services, improvement of data management, and the introduction of agile management methods. This will facilitate the modernization of the financial system, enhancing its transparency, accessibility, and resilience.

During the meeting, changes to regulations concerning the reporting requirements for banks and other financial organizations were also discussed. All these efforts are aimed at increasing the efficiency of the regulator and market participants.