Zusammenfassung:
This paper examines the current situation concerning financial inclusion and financial literacy in Kazakhstan and future prospects. Since 2000, the financial sector has been developing rapidly, driven by petrodollars, which has led to higher financial inclusion. However, the improvement in financial inclusion has not been distributed evenly, most notably between urban and rural populations. Moreover, financial literacy levels have not caught up with the development of financial services and this has led to insolvencies and banking crises. Since gaining independence in 1991, Kazakhstan has not had any systematic and wide-scale financial inclusion strategy or policy. This paper discusses key barriers to financial inclusion and suggests possible ways of overcoming these that could become the basis for a national financial inclusion strategy.