Over the last two decades, the banking sector has expanded significantly in the economy of Kazakhstan. The highest development in the banking sector took place in the period between 2000 and 2008 (until 2008 world economic crisis).
Central Asia and Caucasus has always been economically powerful regions throughout the world history.However, in the beginning of 21st century, Central Asia and Caucasus with its high oil and natural gas reserves regained importance and these countries have attracted attention
Since officially launched in April 14, 2012, the Khorgos Free Economic Zone (FEZ), which is officialily called the International Centre of Boundary Cooperation between Kazakhstan and China, has made a significant contribution to further increasing the economic and commercial re
During the last 10-15 years, period the economic policy of the government of Kazakhstan concerning the domestic economy has been shaped in accordance with the objectives of supporting non-oil sector of the economy.
The Kashagan oilfield is located in the nature reserve area of the northern part of the Caspian Sea. The waters here are shallow with depth of two to ten meters. Moreover, the area has an extreme weather conditions with hot summers and cold winters.
On December 23, 2016, the Bloomberg news agency reported that the Kazkommertsbank, which is the biggest commercial bank in Kazakhstan, is in trouble and borrowed 400 billion tenge from the National Bank of Kazakhstan (NBK) to deal with its liquidity problems
In March-April of 2014, the US and the European Union countries, Canada along with Australia and Japan imposed sanctions on Russia over Ukrainian/Crimean crisis. These sanctions mostly targeted Russian arms, energy and financial state-owned entities and Russian officials.