171 people from governmental and private financial organizations of Kazakhstan, banks, universities and international organizations attended the lectures. The participants got awareness of the European Union experience on Assesses progress towards creating a single market in retail banking services in the European Union and the barriers that have yet to be overcome - a cross border payments system has yet to develop and there have been fewer cross border mergers to date, but would consolidation be good for the consumers? Introduces the corporate governance (principal-agent) problem and explains why it is different for banks (because they have a fiduciary duty to depositors as well as shareholders). To resolve the problem, banks need to be regulated to protect depositors. Such issues were addressed from the view of profit gained by consumers due to the consolidation. The lecture on examines the convergence of financial systems, driven by globalization, and the emergence of a hybrid financial system. The hybrid system consists of financial conglomerates combining commercial and investment (universal) banking and insurance (bank assurance) and is more capital market oriented. The implications of ‘hybridisation’ for corporate governance are explored - appeared a particular interest on the part of the participants.

Master-class especially for Bank TuranAlem and its affiliated company’s employees entitled “Securitization and the Evolving Role of Banks”. Master class explores trends in banking and finance driven by regulatory reform in Japan and the US and harmonization (Basel 2), increased competition and globalization of finance and securitization (leading to increased importance of capital markets). As a result the role of banks is evolving well beyond traditional retail and commercial banking (deposit taking, provision of monetary transmission services, and loan origination) into investment banking, securities business, fund management and insurance. Bank asset and liability, and thus risk, management is becoming more complex. Securitization and derivatives markets provide opportunities for better risk management but also risk taking e.g. in venture capital, hedge fund activity, private equity investment and sub-prime lending.

The lectures were hold in English with synchronous translation into Russian. The materials of the lectures may be downloaded in   English (original version) (194.32 kB) or   Russian (translation) (640.58 kB).