2000-01-17 Kazak Politics & MacroEconomics - Securities Official Reflects
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Securities Official Reflects on Market Development as NSC Marks Fifth Year
Kazakhstan’s National Securities Commission (NSC) celebrated its five-year anniversary on Tuesday. In marking the milestone, the NSC’s Executive Director, Galina Shalgimbayeva, praised the republic’s progress in establishing one of the best stock market infrastructures in the CIS over the course of the past half-decade.
Shalgimbayeva noted that last year Kazakhstan’s securities market entered a new stage in its development. In 1999, the securities market witnessed the appearance of a new financial tool—municipal bonds issued by the Mangystau region and the cities of Almaty and Astana. The Kazakhstan Stock Exchange (KASE) also offered its first foreign securities, selling common shares in Kyrgyztelecom, Kyrgyzenergo and the Kant Concrete-Slate Plant.
According to Shalgimbayeva, this year the NSC plans to focus on the introduction of a mechanism that will encourage companies to place their shares on the stock market. The commission plans to boost the capitalisation of the Central Share Depository and ensure the safety of the trade-payment systems on the KASE, Interfax reported. (Golden Eagle Partners)