Kazakh
President Kassym-Jomart Tokayev received Governor of the National Bank Timur
Suleimenov, who reported on the implementation of monetary policy over the
first seven months of 2026. According to Suleimenov, annual inflation in
Kazakhstan is declining and stood at 10.2% in July. Business
lending also continues to grow. In annual terms, it increased by
more than 17%, while the growth rate of loans to small and medium-sized
enterprises accelerated by nearly one-third. As of July 1, the combined assets
of the National Fund and the country’s foreign exchange reserves exceeded $127
billion. The Head of State was also presented with measures to develop the
financial ecosystem of Alatau City. These initiatives are expected to
accelerate capital flows and attract additional investment. President Tokayev
was further briefed on the implementation of his instructions regarding the
development of the digital financial assets sector and the National Digital
Financial Infrastructure. New areas include the use of stablecoins for
cross-border payments, infrastructure development, and the issuance of
tokenized government assets. As part of the National Payment System, Kazakhstan
launched QR payments and phone number-based transfers between customers of all
banks on July 19. Since then, 6.5 million transactions worth 170 billion tenge
have been processed. Following the meeting, the President instructed that
efforts to develop the country’s financial system continue.
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