The Astana International Financial Center will be protecting the interests of the banks’ corporate clients. Experts reminded that in case of violation of their rights, businesspeople can anonymously appeal to them with a complaint through call centers. This is particularly relevant to the problems arising with the introduction of COVID-19 restrictions. The topic of prudential policy has been discussed for the third day at a conference at the AIFC. During the virtual meeting, experts from 25 countries are exchanging best practices and experiences gained. The heads of central banks and regulators of Central and Eastern Europe are among the event participants, as well as representatives of the International Monetary Fund, the Basel Committee and other relevant organizations. The speakers noted that with the advent of digitalization, the topic of monitoring the banks’ operation has become even more relevant.
“More contemporary problems are related to the pandemic, how it affected the overall way the economy works. Some companies were hit harder than others, so banks had to provide help. Banks are a part of the aid package that the state provides. In addition, digital transformation is dramatically changing the way banks operate. Currently, new clients are coming to banks and the way they get the services, it’s just increasing the risks. For example, cybersecurity. A lot of fraud trends have emerged, therefore, new risks. We need to look for new solutions, and here regulators and banks are on the same side,” said Mukhtar Bubeyev, Chief Executive Officer of Astana Financial Services Authority.
Translation by Assem Zhanmukhanova
Editing by Galiya Khassenkhanova
