Kazakhstan’s first deputy prime minister, Bakytzshan Sagintaev, has said that the country is studying ways to introduce business liability insurance to replace scheduled government inspections, according to local press reports.
“Given the best international practices, the government is planning to replace state control audits and inspections with business liability insurance,” Sagintaev announced at a meeting of the board of national investors, held in the Kazakhstan capital of Astana on 11 April.
“Within the revision of approaches to the state supervision, we plan to get away from scheduled inspections and move towards more effective control based on risk assessment.”
Kazakhstan’s president, Nursultan Nazarbayev, who recently met with the US president, has commented noted that companies have yet to learn how to protect their business assets with insurance. “An insurer will be more vigilant than our state inspectors. This is a lot of work that we must accomplish. Companies have to learn how to insure their businesses.”
Separately, Nazarbayev said that Kazakhstan intends to boost its trade volumes with Bahrain, following his talks with Sheikh ?amad ibn ?Is? ?l Khal?fah in Astana.
GTNews asks Pugsley about what advice she would give to treasurers dealing with mergers and acquisitions, what the key challenges for her year ahead will be and how she is selecting a treasury management system (TMS).
The US money market fund reforms came into effect in 2016 and are already dramatically shaping US fund industry with investors flooding out of prime funds and into government securities. While the reforms are similar, they are not the same. GTNews interviews Yeng Bulter, global head of the cash business at State Street Global Advisors on the differences.
Tim de Knegt, strategic finance and treasury manager for the Port of Rotterdam, discusses how he is using blockchain, the challenges he will face in his role of treasury over the next 12 months and the advice he would give to someone starting out their career in treasury.
Due to the low interest rate environment and Basel III regulation many corporate treasurers, who may have in the past been very reliant on the banking sector to provide them with cash management solutions, have been forced to explore alternative options as banks have been refusing short dated cash deposits.