By Patrick Gill
KAZAKHSTAN HAS THE most sophisticated banking sector in the Commonwealth of Independent States (CIS) but the range of instruments available to domestic institutional investors is still limited. The government has now turned its attention to developing the stock market and pension funds as the next stage of its plan to establish Almaty as a regional financial centre.
With annual GDP growth of 8% to 10% expected for the next few years, investors generally see the domestic scene as favourable.
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