BAKU, Azerbaijan, June 10. Trust and digital transformation in Central Asia are becoming the foundation of strategic development, the Chairman of the Supervisory Board of the Kazakhstan Association for Compliance and Business Ethics, Dauren Akshalov, said, Trend reports.
He made the remark on the second day of “International Finance and Banking Summit 2026: Global Financial Integration of Turkic States” in Baku
Akshalov noted that compliance has already become a strategic factor, as international investors, in addition to financial indicators, pay particular attention to the presence of a compliance system within companies. According to him, the compliance model in Kazakhstan is widely applied not only in financial institutions but also in the quasi-public sector.
The chairman noted that important steps in this direction include incorporating the institution of compliance into the country’s anti-corruption legislation and establishing independent compliance departments within national companies. At the same time, it was emphasized that requirements for compliance with antitrust legislation are also enshrined in law.
According to Akshalov, one of the main problems in the region is that compliance is often merely a formality. He noted that compliance on paper is not enough, and that direct commitment from leadership – the “tone from the top” – plays a decisive role in ensuring actual compliance:
“Trust is becoming a new form of capital in the region, and compliance is the primary tool for building and maintaining that trust. All Central Asian nations are parties to the UN Convention against Corruption and undergo mutual evaluations on anti-money laundering within the framework of the Eurasian Group (EAG).”
He noted that the region has made significant progress in aligning with FATF standards and is receiving positive assessments in this area.
In his speech, he also touched on the rapid development of digital assets and the crypto industry. He noted that crypto exchanges and pilot projects are being developed within the Astana International Financial Center in Kazakhstan, and new requirements for digital assets are being incorporated into anti-money laundering and counter-terrorist financing regulations.
Furthermore, Akshalov stressed that the implementation of electronic money and digital tracking of public funds is already underway in many countries, and this is an important step toward increasing transparency and preventing abuse.
He added that Uzbekistan is also developing an international financial center along these lines, modeled after Astana, and that activities will be regulated based on the English legal system.
Meanwhile, it was noted that Kyrgyzstan has adopted a new anti-corruption law and that reforms are continuing in the region.
