On September 18, 2025, a ceremonial opening bell event was held at the Kazakhstan Stock Exchange (KASE) in Almaty as part of the international initiative "Ring the Bell for SMEs: Unlocking Capital Markets Potential." The initiative aims to promote the sustainable development of small and medium-sized enterprises (SMEs), enhance the potential of capital markets for SMEs, and strengthen their role in the economy of the Republic of Kazakhstan.
The event was attended by Deputy Chairman of the Management Board of Industrial Development Fund JSCZhanar Ibrasheva, Chairman of the Management Board of KASE Adil Mukhamedzhanov, representatives of relevant government agencies and development institutions, leading financial analysts, and executives of domestic companies.
As part of the ceremony, a panel discussion was held under the theme: "Is Impact Investing Working in Kazakhstan: An SME Perspective," during which experts shared their experiences and views.
Zhanar Ibrasheva, Deputy Chairman of the Management Board of Industrial Development Fund JSC, briefed the audience on the Fund’s activities as a development institution, its financing programs, and the government support measures for SMEs provided by the Fund.
"As of today, the Fund’s portfolio amounts to KZT 2.3 trillion, and the structure of this portfolio is predominantly comprised of SMEs. This clearly reflects the Fund’s systemic support for SMEs as a foundation for the country’s sustainable future. Moreover, considering today’s agenda, the Fund proposes the development of a joint SME Support Program together with brokers and the exchange. This would enable SMEs to attract investments from the domestic capital market and lead to the creation of new jobs, which is one of the fundamental principles of the ESG agenda," stated Zhanar Ibrasheva, Deputy Chairman of the Management Board of Industrial Development Fund JSC.
In turn, Chairman of the Management Board of KASE Adil Mukhamedzhanov emphasized the key role of SMEs in the national economy and noted the sector’s significant potential—not only in developing profitable business areas but also in implementing social, environmental, and economic initiatives. According to him, KASE is ready to serve not just as a trading platform but also as a forum for dialogue between the government, investors, and businesses in advancing sustainable development.
The event served as an open platform for exchanging ideas and practical experiences, where participants discussed the key challenges and prospects for SME development, as well as the role of the stock market in supporting sustainable growth. The ceremony was held as part of the United Nations Sustainable Stock Exchanges (UN SSE) Initiative, of which KASE has been a member since 2015.
