Nazarbayev abrogates Financial Supervision Agency

Kazakhstan President Nursultan Nazarbayev has issued a decree to abrogate the country’s Agency for Financial Supervision, regulator of the banking industry, and the Agency for Regulation of the Financial Center of Almaty. Their respective functions have been transferred to the National Bank of Kazakhstan, KazTAG reports. According to the document as of April 12, the National Bank has been designated as the sole successor of the two abrogated agencies. The decree comes into force on the day of the signing.