Summit CFO Idea Exchange & Networking Event 2016

Grant Thornton in Kazakhstan sponsored the Summit ‘CFO Idea Exchange & Networking Event 2016’, one of the most significant events for the entire financial market in the Republic of Kazakhstan.

CFO Summit attracted more than 500 heads and top-managers of large organizations, leading experts from different sectors, who discussed hot issues of the country's economy, the latest developments, trends and innovations, as well as the prospects of development of the financial system of the Republic of Kazakhstan.

Grant Thornton supports Summit second consecutive year, as it believes that this event creates an effective platform for discussion of unresolved financial and socio-economic problems and helps participants to find common solutions, strategies and business improvement ideas.

This year particular attention was drawn to hot financial issues such as business loans in the period of falling oil prices, banking crisis in Kazakhstan, creation of  international financial center "Astana" (IFCA) and risk management in a time of global instability.

The summit touched on the most urgent economic issue to date - declining macroeconomic indicators of Kazakhstan as a result of falling oil prices. In this regard, experts pointed out that the Kazakh economy came into "Ice Age" and answers for  the question "How to get out of a recession?" were discussed at the panel discussion with the participation of the former chairmen of the National Bank of Kazakhstan: Oraz Zhandosov, Kadyrzhan Damitov, Anvar Saidenov and Kairat Kelimbetov.

Solutions of the problems critical to businesses such as risk management in a time of global instability and ways to find reserves during the recession were discussed by leading experts such as managing director and head of the Boston Consulting Group in the CIS Jan Dirk Vaybur, head of investment consulting FBK Grant Thornton (Russia) Roman Kenigsberg, Managing partner of Grant Thornton (Kazakhstan) Yerzhan Dosymbekov and others.

Also, questions related to the current situation in banking sector, which is characterized by a "decline in lending and an increase in problem loans, difficulties in the mortgage market and a decrease in the level of market consumption” were raised during the event. To the main question: "When banks start to lend to the economy?" replied the chairman of the Board of AFK Askar Yelemesov, Chairman of the Board of JSC "Kazkommertsbank" Magzhan Auezov, Chairman of the Board of JSC "Entrepreneurship Development Fund" Damu "Kanysh Tuleushin, economist Almas Chukin and independent director Janat Berdalina.

Stages of development of a new financial institution IFCA and opportunities that it will create to a business were discussed in panel debates by leading experts of the financial sector.

More information about the Summit CFO Idea Exchange&Networking Event can be found on the website:

http://k50.kz/ru/article/?year=2016&mounth=3

Roman Kenigsberg, head of investment consulting practice of FBK Grant Thornton, Russia, about his impression of the CFO Idea Exchange & Networking Event:

Eldar Abdrazakov, the owner of the Centras Group and the main event planner, about his impression of the CFO Idea Exchange & Networking Event: