Kazakhstan, at least on the surface, seems to have a strong political will to attract investments in renewable energy projects as demonstrated by its official general policy.
GRATA International banking and finance team is pleased to provide you with a brief summary of the major changes to the legislation of the Republic of Kazakhstan in 2019 that may affect your business
The Impact of the Equator Principles on Project Financing in the Republic of Kazakhstan
The number of large infrastructure projects steadily grows in Kazakhstan. Potential investors and the State are looking for finance sources to implement the projects. On one hand, in many cases, in view of the amount of financing, international financial organisations are the most likely funding source. On the other hand, international financial organisations themselves often have an interest in project financing in Kazakhstan.
Islamic Finance challenges in Turkey
Having almost 40 years of history, the Islamic banking sector in Turkey currently only has a 5–6% share of the fi nance market in the country. Out of 40 active banks, six are operating (excluding investment and development banks) under the Participation Banks Association of Turkey (TKBB) as Islamic banks and they have not yet reached the average level of their conventional competitors in terms of profi ts, total assets, deposits and loans.
General considerations regarding the jurisdiction of Austrian
Despite the fact that the political situation in Austria, in comparison with other countries of the Western world, is considered more favorable towards Russia, banks and other service providers have recently begun to treat Russian customers with increasing suspicion and skepticism. Therefore, doing business in Austria or using Austrian jurisdiction for capital management requires additional measures.
There is no doubt that Kazakhstan needs new economic drivers to facilitate the launch of innovative new businesses, to disrupt conventional industries and to transform intellectual capital into innovative start-ups.
Is Kazakhstan finally ready to attract investments into its electricity sector?
The capacity market was finally launched on the 1st January 2019 in Kazakhstan to encourage investment for the renovation of old, as well as construction of new, power infrastructure facilities.
Kazakhstan expands central bank’s supervisory powers — good or bad move?
On the 1st January 2019, Kazakhstan promulgated certain changes in legislation that gave its central bank, the National Bank of Kazakhstan (NBK), enhanced capacity and introduced risk based supervision of the financial sector.
Kazakh government should concentrate on attracting cross-border Islamic financing
Though Kazakhstan adopted relevant legislation for domestic (such as the governed Kazakh law) Islamic banking transactions more than seven years ago and has a Muslim population of over 11 million, Islamic finance is still in the early stages of its development and Islamic products are rarely used. According to the National Bank of Kazakhstan (NBK), as of 2018, the share of Islamic banking assets account for only 0.16% of total banking sector assets in Kazakhstan.
Natural monopolies in Kazakhstan: The right time to invest?
The importance of the so-called natural monopolies in Kazakhstan can be seen in the fact that some of Kazakhstan’s largest and most powerful corporate empires, such as the KEGOC (national transmission grid operator) and KTZ (national railway company), are officially subject to natural monopoly regulation.