Quiet but important changes are being prepared in Kazakhstan’s financial system. The National Bank has announced the development of a draft resolution that updates the rules governing payments and money transfers. At first glance, the document looks technical and narrowly focused. In reality, it directly affects how people open bank accounts, how securely their identities are verified, and how modern banking services continue to move online, DKNews.kz reports.
Why these changes are needed now
Over the past few years, Kazakhstan’s financial legislation has gone through a major update. Amendments were introduced to the law on banks and banking activity, as well as to broader legislation covering financial market regulation, communications and bankruptcy. These changes also affected the law on payments and payment systems.
As a result, a number of existing regulatory acts now need to be aligned with the updated legal framework. The draft resolution prepared by the National Bank is designed to close this gap and ensure that current rules reflect how the financial sector actually works today - digital, fast and increasingly remote.
Biometric authentication when opening a bank account
One of the most important elements of the draft concerns biometric authentication. Opening a bank account online has already become routine for many people. But remote access also raises a key question: how can banks be sure they are dealing with the right person?
The draft clarifies the procedure for biometric authentication of clients when opening a bank account through the Identification Data Exchange Center. In practice, this means clearer and more unified rules for how banks verify a client’s identity using biometric data.
For customers, this translates into several tangible benefits:
- lower risks of fraud
- stronger protection of personal data
- a single, transparent standard applied across the banking sector
In short, online account opening should become not only more convenient, but also more secure.
Separate accounting for Islamic banking operations
Another significant part of the draft focuses on Islamic banking. Islamic financial products operate under different principles than conventional banking, which makes proper accounting especially important.
The proposed changes introduce clearer requirements for separate accounting of Islamic banking operations, bringing regulatory acts into line with the law on banks and banking activity. This step aims to ensure that Islamic transactions are recorded transparently and independently from conventional banking operations.
Such clarification is crucial for:
- improving transparency in Islamic finance
- reducing regulatory risks for banks
- strengthening trust among clients and investors
As Islamic banking continues to develop in Kazakhstan, these adjustments help create a more stable and predictable framework for the sector.
What this means for everyday clients
For most people, these changes may not be immediately visible. There will be no dramatic announcements or sudden shifts in user interfaces. However, their impact will be felt gradually - through safer digital services, more reliable identity verification and clearer rules for financial institutions.
The draft resolution shows that the regulator is not simply reacting to technological change, but actively integrating it into the legal environment. In an era where payments, transfers and account opening are increasingly digital, this approach becomes essential.
Why this matters beyond regulations
Financial stability is often built on changes that attract little public attention. They are introduced not during crises, but in relatively calm periods, precisely to prevent problems later on. Clear rules for biometrics, accounting and digital identification form the invisible backbone of a modern banking system.
This draft is not just a technical update for banks. It is a signal of how Kazakhstan’s financial infrastructure is evolving - toward greater security, transparency and trust in a digital-first economy.
