Chagirov Dauren2025-10-222025-10-222007Chagirov Dauren/ Financial Regulation in Kazakhstan and Government Response to the Financial Crisis in the USA/ Articles and proceedings of the scientific conference among university students " Development and future of the science in Kazakhstan in the opinion of youth" , ISBN: 9965-792-25-9 , Suleyman Demirel University / 158 -163 pages.9965-792-25-9https://repository.sdu.edu.kz/handle/123456789/2102Financial institutions play a crucial role in promoting economic efficiency by transferring funds from surplus sectors to deficit sectors of the economy. In this context, effective financial regulation is essential for ensuring stability and transparency in the banking system. This paper examines the regulatory framework of Kazakhstan’s financial system and evaluates its performance during and after the financial crisis in the United States. The analysis focuses on the functions of the National Bank of Kazakhstan and the Financial Supervision Agency (AFN), which jointly oversee monetary policy, financial stability, and transparency of banking operations. Data on the growth of assets, capital, foreign loans, and loan portfolios of Kazakhstani banks indicate significant expansion prior to the global crisis, followed by a slowdown influenced by international financial turbulence. The findings suggest that while Kazakhstan’s financial regulators successfully maintained relative stability, the crisis exposed vulnerabilities related to external borrowing and overreliance on the oil sector. Overall, the research underscores the importance of continuous improvement in financial supervision and risk management in the face of global economic fluctuations.enAttribution-NonCommercial-ShareAlike 4.0 Internationalfinancial regulationbanking sectorfinancial crisiseconomic stabilityAFNArticle