Main changes in Kazakhstan's financial legislation in Q1 2025
MAIN CHANGES IN KAZAKHSTAN'S FINANCIAL LEGISLATION IN Q1 2025:
GRATA International banking and finance team is pleased to provide you with a brief summary of the main changes to the legislation of the Republic of Kazakhstan in 2025 that may affect your business.
Please feel free to contact us if you have any questions, we will be happy to answer them.
1) Changes to the Civil Code (Special Part)
2) Changes to the Law on Banks
3) Changes to the Law on the Securities Market
4) Changes to the Law on Payments and Payment Systems
5) Changes to the Legislation on Currency Regulation and Currency Control
6) Changes to the Law on Digital Assets
7) Changes to the Law on Informatization
8) Changes to the Law on Permits and Notifications
9) Changes to the Law on Procurement by Certain Entities of the Quasi-Public Sector
10) Changes to the Law on Project Financing and Securitization
11) Changes to the Decree Approving the Concept for the Development of Financial Monitoring for 2022–2026
CHANGES TO THE CIVIL CODE (SPECIAL PART)
Amendments have been introduced to the Civil Code of the Republic of Kazakhstan (Special Part) No. 409-I dated 1 July 1999 (the “Civil Code”) aimed at updating the regulatory framework in the area of public-private partnership (the “P.PP”) and enhancing the social protection of individuals in connection with the use of educational savings and insurance payments.
The regulation of the lease of state property under PPP arrangements has been simplified: references to concessions have been removed, with the focus placed solely on public-private partnerships.
Article 738-2 has been revised, the specifics of financing PPP projects through the assignment of monetary claims are now governed by the special PPP legislation, without reference to concession regulation. The law clarifies the regulatory framework by establishing that PPP norms apply separately from concession agreements, reflecting the development of an independent legislative framework on public-private partnerships.
Read the full review:
The review was prepared by:
- Marina Kahiani, Partner
- Zarina Kabashova, Senior Associate
- Yasmin Rashidova, Associate
