<p>This phrase best describes the current situation in the banking sector in Kazakhstan. By the way, a similar situation occurred and is still happening in Russia.</p>
<p>Some banks receive a liquid flow, including from the country's pension reserves, with the aim and in the hope of effectively managing these savings of citizens to increase their financial basket in the future. The government is betting on &ldquo;close&rdquo; banking structures.</p>
<p>Does the banking system from this become more sustainable? If we consider the overall market banking system in Kazakhstan, then no. There is a kind of monopolization of the banking sector in the framework of a hard cut-off, where the unnecessary die, through a sale or bankruptcy / revocation of a license.</p>
<p>Will it make it worse for ordinary citizens? If we look at the replica of the development of the Russian banking sector, removing US sanctions to the side, then in the opinion of Russian citizens, much has become much better. Customer focus, mobility, manufacturability, and ease of use of products of banks that once were outdated with Soviet policy became apparent. Banks began to enter the international level of developed countries. Do other banks suffer from this, whose budgets do not allow it? Definitely, yes. Only those who have unique ideas within limited resources survive. Naturally, everyone else leaves the market.</p>
<p>Kazakhstan and Russia are not unique examples of this behavior of the country's blood-financial system. Half the world has developed and is developing in a similar model. For example, in Singapore, with all the technological effectiveness and advancement of this city-state, in reality there is only one bank to which the state gives particular preference. However, this does not look obvious, since Singapore&rsquo;s democracy does not allow openly discriminating other players.</p>
<p>The process of consolidation of the financial sector of Kazakhstan today is not yet completed. The development of "monopoly" will continue. Perhaps a list of approximate banks will expand, through redemption and affiliation, or rapprochement with state transactions and the needs of the government.</p>
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<p><strong>Eldiyar Muratov for Forbes</strong></p>