<abstract xmlns="http://www.w3.org/1999/xhtml"><p>This study examines the issue of the modernization of the Kazakh financial system considering the new, Enhanced Partnership and Cooperation Agreement with the European Union (EU) (January 19, 2015) and the Kazakh State program “Path to Europe, 2009–2011”. It describes new opportunities for the establishment of a long-term partnership and cooperation between Kazakhstan and the EU for the restructuring of Kazakhstan’s financial system and its convergence with international standards and European regulations. Specifically, this study covers the financial policy and the objectives of the Republic’s financial sector management; legislation regulating the financing activity of business entities, particularly its transparency and accessibility to foreign investors; contradictions between the legal framework of the state on financial relations and international standards, European directives, conventions, and recommendations; and the security of financing activities of European companies. This study employs general scientific methods (theoretical analysis and generalization, comparative legal, logical, etc.) and the functional approach.</p></abstract>

This study examines the issue of the modernization of the Kazakh financial system considering the new, Enhanced Partnership and Cooperation Agreement with the European Union (EU) (January 19, 2015) and the Kazakh State program “Path to Europe, 2009–2011”. It describes new opportunities for the establishment of a long-term partnership and cooperation between Kazakhstan and the EU for the restructuring of Kazakhstan’s financial system and its convergence with international standards and European regulations. Specifically, this study covers the financial policy and the objectives of the Republic’s financial sector management; legislation regulating the financing activity of business entities, particularly its transparency and accessibility to foreign investors; contradictions between the legal framework of the state on financial relations and international standards, European directives, conventions, and recommendations; and the security of financing activities of European companies. This study employs general scientific methods (theoretical analysis and generalization, comparative legal, logical, etc.) and the functional approach.

The Kazakhstan-European Union Partnership: Modernization of the Republic’s Financial System

Department of Accounting and Audit, Caspian University, Seifullin avenue 521, Almaty, Republic of

DANUBE

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

This study examines the issue of the modernization of the Kazakh financial system considering the new, Enhanced Partnership and Cooperation Agreement with the...

The Kazakhstan-European Union Partnership: Modernization of the Republic’s Financial System

Published Online: Dec 29, 2016

Page range: 229 - 241

DOI: https://doi.org/10.1515/danb-2016-0015

Keywords
Finance, Financial System, International Standards and EU Directives, Financial Policy, Management, Financial Crisis, Regulation

© 2016 Jarosław Marczak et al., published by De Gruyter Open

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

The Kazakhstan-European Union Partnership: Modernization of the Republic’s Financial System

Published Online: Dec 29, 2016

Page range: 229 - 241

DOI: https://doi.org/10.1515/danb-2016-0015

KeywordsFinance, Financial System, International Standards and EU Directives, Financial Policy, Management, Financial Crisis, Regulation

© 2016 Jarosław Marczak et al., published by De Gruyter Open

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
Finance, Financial System, International Standards and EU Directives, Financial Policy, Management, Financial Crisis, Regulation