BAKU, Azerbaijan, September 15.
Kazakhstan is considering options for the use of digital financial
instruments in international settlements to speed up payments and
expand opportunities for Kazakh businesses.


This was announced in a statement published by the
press service of the Kazakh government.


“Developing digital financial instruments opens new
opportunities to improve international settlements. For Kazakhstan,
it is important to assess the potential of such solutions promptly
and develop its own expertise in this area. The National Bank,
together with relevant stakeholders, should explore the possibility
of using such instruments in international settlements. Prospective
areas where such mechanisms can increase settlement speed and
expand opportunities for Kazakh businesses should be identified,”
Prime Minister Olzhas Bektenov said at a government meeting.


He also instructed the government to create
conditions for developing domestic expertise and technology
companies in the digital asset sector.


“Developing the digital asset industry is not only a
matter of financial regulation. Modern technologies, software
solutions and, of course, highly qualified specialists stand behind
this area. It is important that market development builds the
relevant expertise within the country. Kazakhstan should be not
only a platform for the circulation of digital assets, but also a
country that creates its own products and specialists for this
industry,” Bektenov said.







The Ministry of Artificial Intelligence, together
with the Ministry of Science and other government agencies, was
instructed to create conditions for developing relevant expertise
and fostering Kazakh technology companies.


Bektenov also instructed the Ministry of National
Economy and relevant government agencies to establish competitive
conditions for the digital asset market.


“The proposed solutions should help return capital to
Kazakhstan's economy, develop the domestic market and actively
attract international participants. Work on establishing a
Committee for Digital Assets and Payment Systems should also be
accelerated,” Bektenov said.