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Chronicle of development

Publication date: 27/12/2013 Change date: 27/12/2013 15:27

  • On July 27, 2001 Resolution of the Government of Kazakhstan no. 1014 “About the development of Almaty as a regional financial centre” has been adopted
  • On February 10, 2003 the Decree of the President of the Republic of Kazakhstan  no. 1019  “State program for the development of the city of Almaty 2003-2010” has been approved, Government of Kazakhstan on April 14, 2003 approved the Action Plan no. 356,  2003-2005 on implementation of the State Program of the development of Almaty city 2003-2010 has been approved
  • On January 30, 2004 by the order of the Prime Minister of Kazakhstan no. 25-r the Interdepartmental working group to develop proposals for the development of Almaty city as a financial centre has been established

The representatives of the Government of Kazakhstan, Almaty city’s Administration, the National Bank of Kazakhstan and Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations were included into the working group.

The working group studied the experience of creation and development of international financial centres of such cities as Singapore, Dublin (Ireland), Dubai (UAE), Labuan (Malaysia).

International company Boston Consulting Group (BCG) had been identified by the Government of Kazakhstan as a strategic partner and JSC “Centre for Marketing and Analytical Research” had been identified as for the joint development of a feasibility study of the project.

  • On December 24, 2004 the Government of Kazakhstan by the Decree no. 1364 approved the concept of creation of an international (regional) financial centre in Almaty city
  • On October 11, 2005 by the Order of the Prime Minister of Kazakhstan no. 288-r  the working group on the issues of functioning of the regional financial centre of Almaty city has been created
  • On February 1, 2006 by Presidential Decree no. 55 the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty has been established. The governmental body was directly subordinate and accountable to the President of the Republic of Kazakhstan
  • On March 1, 2006 in the Address of President of Kazakhstan “The Strategy of access of Kazakhstan into the top 50 most competitive countries in the world” objectives for the development of Kazakhstan's financial sector have been set. Particular attention was paid to the development of Almaty as a major financial centre of the Central Asian region
  • On June 5, 2006, the Law of Kazakhstan “On the regional financial centre of Almaty” was adopted
  • On July 18, 2006 the Order of Labor and Social Protection Minister of Kazakhstan no. 171-r approved the form of information about the foreign labor force, provided quarterly by the authorized body to regulate the activities of the regional financial centre of Almaty in the local executive body of Almaty
  • On August 12, 2006 the Decree no. 146 of the Board of Kazakhstan Agency on Regulation and Supervision of Financial Market and Financial Organizations “On approval of rules for issuing licenses for brokerage and (or) dealer activities of legal entities registered by the authorized state authority that regulates the activities of the regional financial centre of Almaty, and approved their manager employees” has been adopted
  • On August 14, 2006 the Order of the Prime Minister of Kazakhstan no. 227-r “On measures to implement the laws of the Republic of Kazakhstan “On regional financial centre of Almaty city” and “On amendments and additions to some legislative acts of Kazakhstan on the establishment of regional financial centre of Almaty city” has been adopted
  • On August 17, 2006 by the Decree of the President of Kazakhstan no. 158 specialized financial court (SFC) in Almaty city has been established
  • On August 25, 2006 Decree no. 816 of the Kazakhstan Government “The list of financial services provided by legal entities - participants of the regional financial centre of Almaty, the income from the provision of which shall be excluded from their gross annual income” has been approved
  • On August 28, 2006 the Decree no. 166 “The Regulation of the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty” has been approved by the President of Kazakhstan
  • On September 8, 2006 the orders of Chairman of the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty were adopted:

no. 5 “On requirements for the issuers whose securities are intended to be included or included into the list of the special trading floor of the Regional Financial Centre of Almaty city, as well as to such securities”;

no. 6 “On requirements for rating assessments of securities and their issuers for admission to the special trading floor of the Regional Financial Centre of Almaty city”;

no. 7 “On approving the list of the rating agencies, which ratings are recognized by the authorized body on Regulation the Activities of the Regional Financial Centre of Almaty city”;

no. 8 “On the establishment of the list of stock exchanges recognized by the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty city”;

no. 9 “On approval of the qualification requirements for audit organizations for the admission of financial instruments to the Special Trading Floor of the Regional Financial Centre of Almaty city”

  • On September 13, 2006 by the Order of Chairman of the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty no. 11 the Rules of state registration (re-registration) of legal entities - participants of the Regional Financial Centre of Almaty city have been approved
  • On November 8, 2006 a Memorandum on Cooperation between the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty city and LLP “Kazinvest” has been signed
  • On November 17, 2006 a Memorandum on Cooperation between the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty city and the German Stock Exchange (DBAG, Germany) has been signed
  • On November 21, 2006 a Memorandum on Cooperation between the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty city and the London Stock Exchange PLC has been signed
  • On December 8, 2006 the Order no.68 of the Chairman of the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty has been approved the program of development of Regional Financial Centre of Almaty city until 2010 
  • On December 14, 2006 a Memorandum on Cooperation between the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty city and Korea Exchange Inc. has been signed
  • On December 15, 2006 the Order no. 74 of the Acting Chairman of the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty city defined the JSC “Kazakhstan Stock Exchange” as Special Trading Floor of the Regional Financial Centre of Almaty city
  • On December 22, 2006 a Memorandum on Cooperation between the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty city and Hong Kong Stock Exchange has been signed
  • On December 28, 2006 the decision (protocol no. 40) of the Exchange Board of JSC “Kazakhstan Stock Exchange” has been approved Rules for the organization and functioning of the special trading floor of the Regional Financial Centre of Almaty city
  • On January 9, 2007 by the Order no. 9 of the Acting Chairman of the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty city Instructions for the refund of the cost audit issuers of financial instruments admitted to the special trading floor of the Regional Financial Centre of Almaty city has been approved.
  • On January 29, 2007 the Order of the Government of the Republic of Kazakhstan no. 65 created JSC “Regional Financial Centre of Almaty”, the main activity of which is to create the infrastructure of the regional financial centre of Almaty city
  • On March 14, 2007 a Memorandum on Cooperation between the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty city and Warsaw Stock Exchange has been signed
  • On June 1, 2007 a Memorandum on Cooperation between the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty city and JSC “National Holding “KazAgro” has been signed
  • On June 27, 2007 by the Decree no. 536 of the Government of the Republic of Kazakhstan the program to increase the investment culture and financial literacy of the population of the Republic of Kazakhstan for 2007-2011 has been approved
  • On July 2, 2007 by the Order of the Chairman of the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty city no. 02-02/ the Rules of state registration (re-registration) of legal entities - participants of the Regional Financial Centre of Almaty city 158a  has been approved
  • On July 13, 2007 a Memorandum on Cooperation between the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty and JSC “Samruk”, JSC “Kazyna” has been signed
  • On July 21, 2007, the Law of the Republic of Kazakhstan “On amendments and additions to some legislative acts of the Republic of Kazakhstan on the issues of development of Regional Financial Centre of Almaty city” has been adopted
  • On August 9, 2007 by the Order of the Acting Chairman of the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty city no. 02-02/192 the Rules of accreditation as a member of the Regional Financial Centre of Almaty has been approved
  • On September 13, 2007 the Order of the Prime Minister of the Republic of Kazakhstan no. 257-r “On the Measures for the Implementation of the Law of the Republic of Kazakhstan” dated July 21, 2007 year, “On additions to some legislative acts of the Republic of Kazakhstan on the issues of development of Regional Financial Centre of Almaty” has been approved
  • On November 26, 2007 the Order of the Chairman of the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty city no. 02-02/290  “Standards for public services provided by the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty city” has been approved
  • On November 29, 2007 the Decree of Government of the Republic of Kazakhstan no. 1143 “An Action Plan of cooperation with the international rating agencies” has been approved
  • On November 30, 2007 by the Order of the Prime Minister of the Republic of Kazakhstan no. 359-r a working group for the  development of proposals for a draft medium-term sectoral program “Almaty - a regional financial centre” for 2009-2011 has been established
  • On December 11, 2007 the Decree of the Government of the Republic of Kazakhstan no. 1219 “An Action Plan for the development of the stock market and increase the investment activity of the population in the stock market in 2008” has been approved
  • On February 13, 2008 the Order of the Chairman of the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty city no. 02-02/27 “Instructions for the implementation of the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty state control over the observance of the participants of the Regional Financial Centre of Almaty of labor legislation the Republic of Kazakhstan” has been approved
  • On April 3, 2008 the Order of the Chairman of the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty city no. 04.2-09/78 “Qualification requirements for audit organizations for the admission of financial instruments to the Special Trading Floor of the Regional Financial Centre of Almaty city” has been approved
  • On May 8, 2008 the Order of the Chairman of the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty city no. 04.2-09/119 “Requirements for issuers whose securities are intended to be included or included in the special trading floor of the Regional Financial Centre of Almaty city, as well as to such securities” has been approved
  • On May 30, 2008 the Decree of the Government of the Republic of Kazakhstan no. 523 “On some issues of cost recovery audit issuers of financial instruments admitted to the special trading floor of the Regional Financial Centre of Almaty city” has been adopted
  • On January 30, 2009 the Decree of the Government of the Republic of Kazakhstan no. 90 “On approval of the development of the regional financial centre of Almaty to 2015” has been adopted
  • On March 20, 2009 the Order of the Chairman of the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty city no. 04.2-44/78  has been approved “Rules of accreditation as a member of the Regional Financial Centre of Almaty city”
  • On July 15, 2009 a Memorandum on Understanding between the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty city and the Islamic Research and Training Institute (member of the Islamic Development Bank) has been signed
  • On July 30, 2009 the decision (protocol number 20) of the Exchange Board of JSC “Kazakhstan Stock Exchange” the regulations of the trading platform of “Kazakhstan Stock Exchange” as the special trading floor of the Regional Financial Centre of Almaty has been approved
  • On July 30, 2009 the Agreement between the Ministry of Economy and Budget Planning of the Republic of Kazakhstan and the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty on principles of inspection has been signed
  • On August 24, 2009 the Decree of the President of the Republic of Kazakhstan no. 858 “On the Concept of Legal Policy of the Republic of Kazakhstan for the period 2010 to 2020” has been signed
  • On October 20, 2009 the Order of the Chairman of the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty city no. 04.2-44/172 “Qualification requirements for audit organizations for the admission of financial instruments to the Special Trading Floor of the Regional Financial Centre of Almaty city” has been approved
  • On February 1, 2010 the Decree of the President of the Republic of Kazakhstan no. 922 has approved the Strategic Plan of the Republic of Kazakhstan until 2020, which provides as part of establishing a full-fledged stock market of Kazakhstan and its integration with the international capital market to obtain the further development of the regional financial centre of Almaty city
  • On February 1, 2010 the Decree of the President of the Republic of Kazakhstan no. 923 has approved the Concept of development of the financial sector of the Republic of Kazakhstan in the post-crisis period, which provides for the continuation of work on the implementation of the Concept of development of the financial sector of the Republic of Kazakhstan for 2007 - 2011, and The development Plan of the Regional Financial Centre of Almaty city until 2015
  • On March 2, 2010 the mutual Orders of the Chaiman of the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty city (no. 04.2-40/53 and no. 04.2-40/54 ) and the Minister of Economy and Budget Planning of the Republic of Kazakhstan  (no. 114 and no. 115) has been approved:

The form of checklist for the implementation of state control by authorized officials of the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty;

The Criteria for assessing the risks of violation of labor legislation of the Republic of Kazakhstan by participants of the regional financial centre of Almaty

  • On March 4, 2010 the Decree of the President of the Republic of Kazakhstan no. 932 “Standards of public services provided by the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty city” has been approved
  • On June 4, 2010 a Memorandum on Cooperation between the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty city and the Association of Securities Market Participants (ASMP) (Belarus, Minsk) has been signed
  • On July 2, 2010 a Memorandum on Cooperation between the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty city and trading platform Paris Europlace has been signed
  • On October 7, 2010 a Memorandum on Cooperation between the Agency of the Republic of Kazakhstan on Regulation of Activities of the Regional Financial Centre of Almaty city and the National Association of Securities Market Participants (Russian Federation, Moscow) has been signed
  • On April 12, 2011 by the Decree of the President of the Republic of Kazakhstan no. 25 “On further improvement of the system of state regulation of the financial market of the Republic of Kazakhstan” Agency has been abolished with transfer of its functions and powers to the National Bank of Kazakhstan
  • On April 18, 2011 by the Decree of the President of the Republic of Kazakhstan no. 61  “On Some Issues of the National Bank of the Republic of Kazakhstan” the Committee for the Regional Financial Centre of Almaty City National Bank of Kazakhstan and the Committee on Regulation and Supervision of Financial Market and Financial Organizations of the National Bank of Kazakhstan have been established
  • On July 22, 2011, the Law of the Republic of Kazakhstan “On amendments and additions to some legislative acts of the Republic of Kazakhstan on the issues of Islamic finance” has been adopted
  • Decree of the Board of the National Bank of Kazakhstan no. 156 dated September 30, 2011 and order of the Minister of Economic Development and Trade of the Republic of Kazakhstan no. 372 dated December 1, 2011 “On approval of the criteria of evaluation of risks and checklist forms of private enterprise in the activities of participants of the Regional Financial Centre of Almaty in labor legislation of the Republic of Kazakhstan” have been adopted
  • On December 14, 2011 the Decree of the President of the Republic of Kazakhstan no. 196 “Standards of public services of the National Bank of Kazakhstan” has been approved
  • On November 16, 2012 a Memorandum on Cooperation between the National Bank of Kazakhstan and Administration of Almaty city has been signed
  • On May 3, 2012 a Memorandum on Cooperation between the National Bank of Kazakhstan and the Agency for the development of the financial centre Luxembourg has been signed
  • On August 31, 2012 the Resolution of the Board of the National Bank of the Republic of Kazakhstan no. 283 “The Rules for reimbursement of audited financial statements of issuers of securities admitted to the Special Trading Floor of the Regional Financial Centre of Almaty city” has been approved
  • On September 17-18, 2012 in Almaty, National Bank of Kazakhstan together with the International Monetary Fund and the Islamic Development Bank held an International Islamic Finance Conference “Creating an enabling environment”
  • On December 29, 2012 the Decree of the President of the Republic of Kazakhstan no. 458 “On Some Issues of the National Bank of Kazakhstan” the Committee for the Development of the Regional Financial Centre of Almaty City has been abolished, the National Bank of Kazakhstan has changed the structure by establishing the Department for the Development of the Regional Financial Centre of Almaty city and Islamic Finance
  • On February 25, 2013 the Resolution of the Board of the National Bank of the Republic of Kazakhstan no. 62 “On approval of state registration (re-registration) of legal entities from the regional financial centre of Almaty” has been adopted
  • On March 29, 2013 the Resolution of the Board of the National Bank of the Republic of Kazakhstan no. 87 “Qualification requirements for auditing firms for the admission of financial instruments to the Special Trading Floor of the Regional Financial Centre of Almaty city” has been approved