Within Astana Finance Days, a meeting was held between a delegation of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market led by its Chairperson Madina Abylkasymova and Deputy Chairperson of the Hungarian National Bank Mr. Csaba Kandrács, DKNews.kz reports.
The parties have discussed prospects for expansion of their cooperation in the banking sector, as well as challenges in financial regulation associated with spread of digital assets and crypto currencies, introduction of distributed ledger technologies, increased risks of fraud and emergence of regulatory gaps between traditional and innovative participants.
During the state visit of the President of Kazakhstan Kassym-Jomart Tokayev to Hungary, a Memorandum of Understanding in the banking field was previously signed between the Agency and the Hungarian National Bank (Magyar Nemzeti Bank). The signing ceremony took place on 20 November 2024, in the presence of the leadership of the two countries.
The document is designed to develop effective cross-border supervision of banks in line with standards of the Basel Committee and opens up new opportunities for deeper cooperation between the Agency and the Hungarian National Bank.
