Share the article
twitter-iconcopy-link-iconprint-icon
share-icon
View from Davos January 2 2014

Building financial architecture for Kazakhstan

The recently appointed National Bank of Kazakhstan governor, Kairat Kelimbetov, tells Philip Alexander that he is focused on stepping up the quality of corporate governance in the country's banking sector and financial markets.
Share the article
twitter-iconcopy-link-iconprint-icon
share-icon
Building financial architecture for Kazakhstan

Kairat Kelimbetov assumed the role of governor of the National Bank of Kazakhstan (NBK) in complicated circumstances. His high-profile predecessor, Grigory Marchenko, resigned from the post well ahead of his planned retirement date, after publicly criticising proposed government reforms of the Kazakh pension system. However, Mr Kelimbetov is no stranger to crisis. He was deputy head of the sovereign wealth fund Samruk-Kazyna in 2009 when the fund was called in to bail out several of the country’s largest banks, amid a real estate crash and two instances of large-scale fraud at BTA Bank and Alliance Bank. Today, he sees his move to the NBK, after spells as Kazakhstan's economy minister and deputy prime minister, as a chance to complete the circle.

“In 2009 at Samruk-Kazyna, it was about fire-fighting in the banking sector. Now, I have a better opportunity to think strategically, to finish the work we started then by rebuilding the model for the banking sector and for financial regulation,” Mr Kelimbetov tells The Banker.

To continue reading, join our community and benefit from

  • In-depth coverage across key markets
  • Comments from financial leaders and policymakers worldwide
  • Regional/country bank rankings and awards
Activate your free trial