Yerbol orynbayev biography of donald

Yerbol Orynbayev, who served as deputy prime minister and assistant to the president under Nazarbayev until , was a director of Jusan Technologies and owned a 4. He did not respond to requests for comment.

Yerbol orynbayev biography of donald

Group 42 did not respond to requests for comment. Jusan Bank said the dividends it paid out were legal and justified after the lender had been stabilised. Companies like Jusan Technologies are in part able to operate in the UK because of the assistance of lawyers and accountants who work and advise, perfectly legally, behind the scenes.

MacIntyre Hudson is under investigation by the Financial Reporting Council for its audits of another company in and It has confirmed it is co-operating with the investigation. In essence, what they are purchasing is a kind of legal stability and protection. What is happening in Kazakhstan now is exactly the kind of contingency that they probably had in mind, or that their enablers who drew up these agreements were asked to bear in mind.

The July letter states Kazakh authorities investigated allegations that members of the Jusan group of companies, including Jusan Technologies, Jysan Holding and New Generation Foundation, had links to Nazarbayev or were controlled by him or on his behalf. Editorial note, August 11, In an earlier version of this article we stated in paragraph 20 that the payment of dividends was in breach of Kazakh banking requirements.

The US is held back by its long-standing conservative and traditional approach to banking, which often reduces banks to intermediaries between deposits and loans. While there are pioneers in the sector driving disruption, like Chase and AmEx, the US is still in the experimental phase for building ecosystems — and is lagging behind other countries like China.

Banks have access to vast amounts of data and can process various transactions such as purchases, sales, loans, transfers, utility bill payments, and gift transactions. But they must commit more resources to analyzing this data and so they can prioritize offerings based on the scale of each transaction category. Emerging technology such as AI and ML has accelerated processes in a number of other industries and has transformed customer understanding, and banks should double down on investing in this technology as part of their ecosystem business model.

Finally, ecosystems can help banks create additional value to help retain customers. Implementing loyalty programs, optimizing fee structures, offering loan discounts, or even introducing buy-now-pay-later schemes are all effective strategies to deepen customer loyalty. TDB: Likewise, what lessons can be learned from China especially in terms of its application of AI and how has this translated in to improved digital CX?

Yerbol Orynbayev: China has excelled in developing digital ecosystems and lifestyle platforms, with Alipay and WeChat standing out as prominent examples. These innovations significantly enhance convenience and reduce transaction costs in daily life. Their ecosystems are underpinned by advanced technologies such as big data and AI, which Chinese companies pioneered and are still leading the rest of the world.

For example, China has used AI in precision marketing — to accurately recommend different financial products to different customers; and for credit risk control — using models powered by big data to help customers minimize potential financial risks. The rest of the world can draw valuable lessons and insights from these models, potentially leading to their adaptation and implementation elsewhere.

It might not be long before we see similar developments in Western markets. TDB: Technology will continue to play a central role in powering the next wave of innovation in the banking industry with various players still experimenting with Web 3. Can decentralization of finance peacefully co-exist within traditional banking arrangements and frameworks?

What parts of Web 3. There will be a split and divide among regulators in different countries, with some supporting decentralization and others opposing it. I believe regulators in developed markets like North America and Europe will oppose decentralization, and lean towards traditional banking; conversely, developing markets in Central and South America might favor decentralization.

This division could result in a fragmented global banking landscape, and could even lead to tensions and friction in some areas of the economy. AI technologies have already started to be deployed extensively in the finance sector and will continue to shape it. For example, AI could be deployed to gain a deep understanding of consumer spending habits, which would allow for tailored non-financial services.

On the other hand, blockchain technology, aside from its use in digital currencies and payment systems, has not yet seen widespread adoption. However, as computational capacities continue to increase and costs of implementing them drop, banks may increasingly shift toward blockchain-based digital platforms. Looking ahead, the metaverse appears to be the next major source of disruption, however its potential in the near future is limited by limited technological and computational capacities.

First Name. Last Name. Job Title. He has also served as a board member of the National Bank of Kazakhstan, Agency for Regulations of Financial Markets as well as for large companies and nonprofits, including sovereign wealth fund Samruk-Kazyna. He began his career in the private sector having worked for banks and private companies. He co-founded a number of finance, trade and certification companies.

From , he held senior positions at Kazakhstan Government and international financial institutions. Among those Mr. Since his resignation from the public sector in , he has held a number of senior positions in private financial, research and technology companies. Contents move to sidebar hide. Article Talk.