Development of payment system of Kazakhstan in modern economic conditions

Ilyas Akylbek

The article considers matters of state regulation of the payment and settlement mechanism in difficult economic conditions. The efficiency of financial markets and banking sector of the economy largely depends on existing payment and settlement mechanism in the country. The existing payment system in Kazakhstan is compatible with all international payment systems. The special position of the payment system in providing settlements during manufacture and sale of products, and in general functioning of the national economy at the present stage, determine the relevance of the issues being considered. The payment system of the Republic of Kazakhstan is developing at a rapid pace, it has great prospects for development and provision of various financial services.

Keywords:banks, government securities, monetary funds, depository, clearing, payment system, financial instruments.