ASTANA, Kazakhstan, July 26. The second on-site mission of the Financial Sector Assessment Program (FSAP) by the International Monetary Fund (IMF) and the World Bank will be conducted in Kazakhstan from July 18 to August 2, 2023, Trend reports.
According to the country's Agency for Regulation and Development of the Financial Market, FSAP represents a comprehensive and in-depth analysis of the country's financial sector, focusing on two main directions: assessing the stability and reliability of the financial sector and evaluating its potential contribution to economic growth and development.
The second on-site mission covers three areas: the Astana International Financial Center and the financial system of Kazakhstan; consumer protection in financial services; and competition in the financial market.
During this mission, FSAP experts held consultations with various stakeholders, including the Agency, the National Bank, ministries of finance, national economy, ecology, and natural resources; the Agency for Protection and Development of Competition; the Association of Financiers of Kazakhstan; the stock exchange; financial organizations; Baiterek National Management Holding; the DAMU Entrepreneurship Development Fund; the Development Bank of Kazakhstan; and other entities.
The outcome of the Financial Sector Assessment Program will result in the presentation of the Financial Stability Report for Kazakhstan, along with recommendations for its further development, by the IMF and the World Bank.