The Agency for Regulation and
Development of Financial Market (ARDFM) is set to establish a national rating
agency in Kazakhstan by year-end. This will contribute to increasing
responsibility for assigned ratings, as well as to ensuring the quality and
integrity of the rating process. Additionally, it will improve the efficiency
of resource allocation and promote the development of the capital market. The
influx of investors into the stock market will also increase, and credit rating
services for businesses will become cheaper and more accessible. To develop
rating models, it is proposed to attract financial institutions and foreign
agencies to be part of the capital of the National Rating Agency.
