ASTANA, Kazakhstan, May 5.The National Bank
(NBK), the Agency for Regulation and Development of Financial
Market , the Ministry of Finance of Kazakhstan, the Astana
International Financial Centre (AIFC), and the Asian Development
Bank (ADB) have prepared the Bond Market Guide for Kazakhstan,
Trend reports via the
NBK.
This is the first document of its kind in the country’s history.
The guide was developed within the framework of the ASEAN+3 Bond
Market Guide initiative, a series of publications by the ASEAN+3
Bond Market Forum (ABMF), whose secretariat functions are supported
by ADB. Kazakhstan joined the forum as an official observer in
2025.
The document covers all key aspects of the country’s bond
market, including the historical development of the market and its
main milestones, the legal and regulatory framework (securities
legislation, listing requirements, disclosure rules, and access for
non-residents), as well as the main types of debt instruments such
as government and corporate bonds, money market instruments, and
Islamic securities (sukuk).
It also reviews market infrastructure for trading, clearing, and
settlement on Kazakhstan Stock Exchange (KASE) and Astana
International Exchange (AIX), including the specific legal
framework of the AIFC jurisdiction, taxation rules, participation
costs, and conditions for foreign investors. In addition, the guide
outlines current challenges, development prospects, and key
priorities for further market growth.
The ASEAN+3 Bond Market Forum was established in 2010 under the
Asian Bond Markets Initiative (ABMI). It serves as a leading
regional platform for information exchange, policy recommendations,
and promoting bond market integration across the ASEAN+3 region.
The ABMF secretariat is hosted by ADB.
