Kazakhstani banking systems need supervision
On 15th of November in Almaty was held the VII Congress of Financiers. Chairman of the Board of NCE RK "Atameken" Ablay Myrzakhmetov, touching upon the problems of the financial market, noted that there are no decisive steps to mitigate monetary and credit policy. He added about the inaccessibility of both short-term and long-term loans. As Ablay Myrzakhmetov noted, the formation of the congress indicates that there is a need to exchange views in the financial sector.
He talked about what business is waiting for from the financial sector. There must be a balanced economic policy. "These are, of course, tax issues and budget lending. The business expects that the macroeconomic policy will be discussed in a coordinated manner. It is necessary to stimulate economic growth by joint work of the National Bank and AFC", - Ablay Myrzakhmetov believes.
"Only in January-September of 2017, the volume of newly issued loans increased by 6.7% to 7.6 trillion KZT. But this growth is associated with an increase in lending to individuals by 1.5 times. Loans to legal entities, which form the basis of entrepreneurship, decreased by 5.7%, or more than 300 billion tenge", - said the Chairman of the Board of NCE RK “Atameken".
Loans to agriculture decreased by 43%. He also added that there is an increase in rates for long-term (investment) loans.
The speaker explained that loans are only available to businesses due to subsidies and state programs.
"The RMB is the most demanded program, work is going on in all regions, more than 10 thousand participants. However, in Kazakhstan there are about 1 million 200 thousand entrepreneurs, one such support is not enough. The banking sector is a real instrument of lending, it should work in full force", - Ablay Myrzakhmetov said.
He also said about the necessary supervision of the financial sector.
"The critical problem of the whole business is the low availability of capital. The National Bank has a very big serious examination, they need to participate in a brainstorming session to solve problems. 40% of the commodity turnover in the SKR falls on Uzbekistan. We need to target competitiveness", - Ablay Myrzakhmetov said.
The Congress of financiers was last held in 2006. For the first time the main event of the financial market was held in May 1999. The event was attended by the Chairman of the Board of NCE RK "Atameken" Ablay Myrzakhmetov, Deputy Chairman of the Board of NCE RK "Atameken", acting Chairman of the Board of the Association of Financiers Yuliya Yakupbaeva, Chairman of the National Bank of Kazakhstan Daniyar Akishev, as well as representatives of all segments of the country's financial market - banks, insurance, investment and brokerage companies.
.jpg)
Please, join our Telegram channel to stay up to date on the latest news.
Leave comment:
Comments: