Kaspi.kz positions itself as a Super App – one application in which dozens of different functions are available: payment system, banking products, marketplace, etc.

Samruk-Kazyna has issued five-year Eurobonds in the amount of $500 million with a coupon of 2 percent per annum.

The rate on access operations to provide liquidity was set at 10.75 percent and the rate on access operations to withdraw liquidity - at 8.75 percent.

Kazakhstan relies on its rainy-day fund to fill the budget gaps, although plans to reduce the transfer from the fund to the state budget to 2.4 trillion tenge in 2024.

The upgrade follows the state's continuing guarantee for 100 percent of the state-owned UGE's debt and no plans to place non-guaranteed Eurobonds in the near future.