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Foreign banks to be allowed to open direct branches in Kazakhstan from 2020

26.09.2018, 20:47 2536

In other words, due to those commitments, Kazakhstan will allow foreign banks to open direct branches and render their services on the territory of the country in 2020," Permanent Representative of Kazakhstan to the WTO Zhanar Aitzhanova announced during the seventh roundtable meeting on joining to WTO.

According to her, it will strengthen the competition in the financial sector. And this situation consequently will affect the quality of services provided to businesses and the public, as well as on the terms of providing these services.

As reported earlier, from the end of November 2015 Kazakhstan is an official member of the World Trade Organization (WTO). The membership in the WTO gives an opportunity to stimulate the development of its own exports, as it removes discriminatory treatment of Kazakhstani goods and opens free access to foreign markets.

Source: BNews.kz

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