The Memorandum of Understanding on the implementation of a pilot solution for the use of internationally recognized electronic methods of signing documents was signed on September 28 this year. within the framework of the annual International Technology Forum Digital Bridge - "Central Eurasia as a new tech platform" - "Central Eurasia as a new technology platform".

The pilot project is a joint effort of the Parties and Project Participants aimed at the acceptance and recognition of documents signed using a mutually agreed standard to improve the efficiency of commercial transactions involving Kazakh and international companies.

The Minister of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan Bagdat Mussin emphasized that this initiative is one of the factors for improving the investment image and opens up opportunities for companies operating in Kazakhstan to use the internationally recognized technology for signing documents in electronic form.

“Digital signatures are widely used all over the world. Kazakhstan also has its own digital signature, which was developed in a timely manner and is now widely used. But if we talk about the international community, it still uses simple digital signatures such as DocuSign and Adobe Sign. The use of the same simple solutions that simplify the mechanism of interactions would give a new impetus to increase investment attractiveness and reduce paperwork. As a co-chairman of the working group on digitalization of the Foreign Investors' Council, I am very pleased that we are raising and promoting such important and at the same time promising issues for the digitalization of our country,” said Saken Zhumashev, Managing Partner of KPMG Caspian.

“Citi is proud to be a key partner of the government of Kazakhstan and the Kazakhstan Foreign Investors' Council Association (KFICA) in their digital transformation initiative, which aims to adopt a world recognised standard of simplified digital signatures for B2B transactions. At Citi we have successfully deployed digital signatures for our client onboarding services across 74 countries and continue improving seamless digital client experience for our international clients”, - said Naveed Anwar, Citi Global Head of Digital Business Banking Solutions.