Timur Suleimenov Envisions Shift Away from Bank-Centric Economy in Kazakhstan

The Chairman of the National Bank of Kazakhstan, Timur Suleimenov, announced that the country must transition away from a strictly bank-centric economic model. Currently, commercial banks account for 80% or more of the entire domestic financial system.

According to Suleimenov, other market participants—including brokers, dealers, insurance companies, and the broader stock market—should roughly double their collective share from the current 20% to 40% in the future.

This shift aims to diversify financing channels across the economy and create a more balanced financial ecosystem in Kazakhstan.