BAKU, Azerbaijan, June 10. Trust and digital
transformation in Central Asia are becoming the foundation of
strategic development, the Chairman of the Supervisory Board of the
Kazakhstan Association for Compliance and Business Ethics, Dauren
Akshalov, said, Trend
reports.
He made the remark on the second day of “International Finance
and Banking Summit 2026: Global Financial Integration of Turkic
States” in Baku
Akshalov noted that compliance has already become a strategic
factor, as international investors, in addition to financial
indicators, pay particular attention to the presence of a
compliance system within companies. According to him, the
compliance model in Kazakhstan is widely applied not only in
financial institutions but also in the quasi-public sector.
The chairman noted that important steps in this direction
include incorporating the institution of compliance into the
country’s anti-corruption legislation and establishing independent
compliance departments within national companies. At the same time,
it was emphasized that requirements for compliance with antitrust
legislation are also enshrined in law.
According to Akshalov, one of the main problems in the region is
that compliance is often merely a formality. He noted that
compliance on paper is not enough, and that direct commitment from
leadership – the “tone from the top” – plays a decisive role in
ensuring actual compliance:
“Trust is becoming a new form of capital in the region, and
compliance is the primary tool for building and maintaining that
trust. All Central Asian nations are parties to the UN Convention
against Corruption and undergo mutual evaluations on anti-money
laundering within the framework of the Eurasian Group (EAG).”
He noted that the region has made significant progress in
aligning with FATF standards and is receiving positive assessments
in this area.
In his speech, he also touched on the rapid development of
digital assets and the crypto industry. He noted that crypto
exchanges and pilot projects are being developed within the Astana
International Financial Center in Kazakhstan, and new requirements
for digital assets are being incorporated into anti-money
laundering and counter-terrorist financing regulations.
Furthermore, Akshalov stressed that the implementation of
electronic money and digital tracking of public funds is already
underway in many countries, and this is an important step toward
increasing transparency and preventing abuse.
He added that Uzbekistan is also developing an international
financial center along these lines, modeled after Astana, and that
activities will be regulated based on the English legal system.
Meanwhile, it was noted that Kyrgyzstan has adopted a new
anti-corruption law and that reforms are continuing in the
region.
