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ALMATY — The National Bank of Kazakhstan and the United States multinational company Visa signed a memorandum of understanding on digital financial cooperation on Nov. 5, marking the first agreement reached under the upcoming C5+1 Leaders’ Summit and Business Conference dedicated to the tenth anniversary of the regional platform. The memorandum was signed by Deputy Chairman of the National Bank of Kazakhstan Akylzhan Baimagambetov and Senior Vice President and Global Head of Government Engagement at Visa Robert Thomson, reported the Kazinform news agency on Nov. 6. According to Baimagambetov, the agreement aims to develop Kazakhstan’s digital financial infrastructure and expand the use of advanced payment technologies nationwide. “Key areas include the establishment of a competence center at the National Payment Corporation with Visa’s support to test innovative solutions. It also aims to share best practices in digitalization and biometric identification, enhancing cybersecurity and fraud prevention in the financial sector,” he said. Thomson welcomed the agreement, describing it as a milestone for advancing digital transformation in Kazakhstan. “It is a great honor for us to sign this memorandum with the National Bank of Kazakhstan to accelerate digital innovation across the country through digital assets, cybersecurity, and data-driven insights in travel and tourism. These efforts will truly help make Kazakhstan one of the leading digital economies in Central Asia,” he said. Reflecting on Visa’s work in the country, Thomson highlighted that Kazakhstan remains a true leader in digital payments and in adopting new technologies. “We are committed to ensuring that everyone, from small businesses and individuals to the government, has access to digital tools. Kazakhstan is clearly at the forefront, and we see it as a model of how the world is evolving in digital payments,” he said. The signing took place on the eve of the C5+1 Leaders’ Summit and Business Conference, which will convene in Washington on Nov. 6 to discuss investment, innovation, and partnership opportunities between the US and the countries of Central Asia.
