SAY WHAT YOU like about Kazakhstan’s president Nursultan Nazarbayev but you could never accuse him of lacking ambition. Not content with having the best banking, payments and pension fund systems in the former Soviet states, he also wants to have the best capital market in the region as well, and to attract listings from neighbouring countries as a result.
At the third Congress of Kazakh Financiers held in the country’s financial capital Almaty in February, the sprightly 63-year-old leader bemoaned the slow pace of development of the country’s stock market and lack of investor interest in it.
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