Legislative Novelties In Kazakhstan in 2019:
In 2019, the process of making important amendments to the
legislation of Kazakhstan, including banking and financial laws,
continued.
The financial regulator (the National Bank of the Republic of
Kazakhstan) was reorganised by spin-off of a new body which would
now be responsible for regulating the financial market and its
subjects.
The amendments that have been made fundamentally change the
microcredit market in Kazakhstan, restrict the activities of
foreign insurance brokers and provide for additional requirements
for local insurance brokers.
Amendments also affected the state and quasi-state sector–
a moratorium on the establishment of companies with state
participation has been introduced, significant amendments to the
legislation on public procurement have been made.
