The Head of State received Madina Abylkassymova, Chairman of the Agency for Regulation and Development of the Financial Market.
The President heard a report on the results of the work of the financial market and activities to regulate financial organizations for 11 months of 2022.
Kassym-Jomart Tokayev was informed that this year, despite the difficult macroeconomic conditions, the stability and sustainability of the banking sector has been ensured.
According to Madina Abylkassymova, bank assets have grown by 14.4% since the beginning of the year and reached 43.1 trillion tenge. The deposits of the population increased by 16.8% or up to 15.7 trillion tenge.
In order to stimulate lending to the economy, the agency has taken regulatory measures to release capital and liquidity, and relaxed the requirements for collateral policy. As a result, lending to the economy has increased since the beginning of the year by 20.1% or up to 22.2 trillion tenge, including business loans increased by 7.3% or up to 8.3 trillion tenge, loans to small and medium businesses - by 8, 6% or up to 4.9 trillion. tenge.
The President was presented with measures to limit the debt load of the population. In particular, interest rates on microcredits have been reduced, the calculation of the debt burden ratio has been tightened, and individual plans for banks and microfinance organizations (MFIs) have been adopted to work with problem loans. In general, the requirements for the activities of microfinance and collection organizations have been tightened. This year, the activities of 23 MFIs and 35 collection agencies have been terminated.
According to the chairman of the agency, new social insurance products have been introduced in the insurance market and conditions have been created for the digitalization of insurance services. The protection of retail investors has been strengthened on the stock market, the number of which has increased 4 times over 2 years and amounted to 526,000.
Following the meeting, the president outlined a number of tasks aimed at further development of regulation and ensuring the stability of the financial market.
By the Kazakhstanskya Pravda
