Central banks of Kazakhstan and Germany sign memorandum of cooperation

Chairman of the National Bank of Kazakhstan Timur Suleimenov and member of the Executive Board of the Central Bank of Germany Burkhard Balz, who arrived in Kazakhstan as part of the official delegation of German Chancellor Olaf Scholz, signed a bilateral memorandum of understanding, El.kz news agency reports with reference to the press service of the National Bank of Kazakhstan.

"The conclusion of the memorandum will expand professional interaction and expert dialogue on topical issues of central banks, including improving the effectiveness of communications in the framework of the implementation of monetary policy, macroprudential regulation and measures aimed at promoting financial stability," the report says.

It is also planned to cooperate in the field of improving the management system and risk management, the development of research activities, fintech, digitalization in the financial sector and the regulation of digital financial assets.

The heads of the central banks of Kazakhstan and Germany have reached key agreements that will serve as an incentive for the implementation of bilateral initiatives and will contribute to the expansion of cooperation.

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