Kazakhstan Stock Exchange JSC (KASE) and Rating Agency of Regional Financial Center of Almaty (RA RFCA) have signed a Memorandum of Cooperation to promote further development of the stock market of the Republic of Kazakhstan and protect the investor rights.
The document signed will serve as a basis for the long-term effective and mutually beneficial cooperation between KASE and RA RFCA. KASE and RA RFCA will be engaged in the information exchange as part of their cooperation, and some information and analytical materials of RA RFCA, as well as the credit ratings remotely assigned by RA RFCA to the companies listed on KASE, will be published on KASE website.
“The stock market development is one of our priority tasks to improve the efficiency of the economy of the Republic of Kazakhstan, if properly addressed. Kazakhstan Stock Exchange is now a universal financial market with its participants interested in minimizing some possible transaction related risks. The ratings assigned remotely certainly do give some idea of the possible risks, however the national credit ratings published by us will bring even greater results in this area. I hope, in the near future they will be assigned to the listed companies of Kazakhstan on a regular basis,” Deputy Chairwoman of the Management Board of Kazakhstan Stock Exchange Natalya Khoroshevskaya said.
According to Aigul Tasbolat, Chairwoman of the Management Board of Rating Agency of Regional Financial Center of Almaty, “It is a worldwide recognized benchmark for the credit risk assessment to assign the national scale ratings along with the international scale to improve the investor risk management.”
Kazakhstan Stock Exchange JSC (KASE) is the leading stock exchange in the Central Asian region and the only exchange in Kazakhstan, carrying out their activities in the financial market. It is a universal trading platform for repo market instruments, foreign currencies, government and corporate securities, bonds of international financial institutions as well as derivatives.
KASE is a member of the World Federation of Exchanges (WFE), Federation of European and Asian Stock Exchanges (FEAS) and other international and local professional associations. In 2015, KASE joined the UN Sustainable Stock Exchanges initiative.
Rating Agency of Regional Financial Center of Almaty is the very first national rating agency of Kazakhstan, offering the independent appraisal services to Kazakhstan companies and assigning corporate credit rating, corporate governance rating, credit rating of bonds, and credit rating of financial institutions.