THE DIGITAL TENGE AND ITS IMPACT ON KAZAKHSTAN’S FINANCIAL SYSTEM: RISKS AND OPPORTUNITIES

Abstract

This article delves into the prospective introduction of the Digital Tenge, Kazakhstan's national digital currency (CBDC), and its anticipated influence on the nation's financial ecosystem. As Kazakhstan navigates the global trend towards digitalization and seeks to modernize its financial infrastructure, the Digital Tenge presents a confluence of opportunities and risks. This paper provides a comprehensive analysis of these aspects, examining the potential benefits such as enhanced financial inclusion, increased efficiency, and improved transparency, alongside the challenges related to cybersecurity, privacy, and financial stability. Furthermore, it explores the strategic considerations for successful implementation and the broader implications for Kazakhstan's economy in the digital age.