World Monitor Magazine, №1/2020 WM_March 2020_FOR WEB (12.03.) | Page 25
DESTINATION KAZAKHSTAN
apply the necessary supervisory and
corrective measures in a timely and
adequate manner. risks, as well as taking into account the
preventiveness of supervisory mea-
sures.
Risk-oriented supervision will be
strengthened by macroprudential
regulation measures carried out jointly
by the Agency and the National Bank.
The goals of macroprudential policy
are to curb credit, reduce structural
vulnerabilities
in
the
financial
system, and increase the resilience of
financial organizations of the system
to aggregate shocks by applying
increased capital and liquidity buffers
in case of crisis and stress. The role of the financial sector in
financing (lending) the economy will
be enhanced. To this end, the Agency
proposes to review the current regime
for improving enterprises within the
framework of the bankruptcy law,
liberalizing the listing conditions for
access to the exchange and attract
equity and debt capital, and expanding
the investment opportunities of
financial market entities.
The supervision will be on a “forward-
looking” basis supplemented by a rea-
soned judgment, a continuous assess-
ment of internal risks, the impact of
macroprudential and macroeconomic
As an additional measure, it will be
proposed to optimize the prudential
requirements for standardized special
loan products, which will expand the
possibilities for lending to small and
medium businesses.
For the progress of financial technolo-
gies, digitization and increasing ac-
cess to financial services, there will
be initiated regulatory environment
for financial technologies and innova-
tions. The main directions of innova-
tions development will be reflected in
the corresponding concept, jointly de-
veloped by the National Bank and the
Agency.
The concept of a two-level system of
credit bureaus will be proposed for the
elaboration of the infrastructure. This
will reduce business and consumer
costs by introducing a single window
and reporting on credit histories, en-
sure the integrity and confidentiality
of information, and increase competi-
tion between credit bureaus.
supported by EUROBAK
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