Лизинговые операции в Казахстане.

Introduction Leasing has already proven to be an effective tool for business to develop. Yet the impact of leasing is not limited to the creation of new and diversified incomes – the positive social outcomes are often even more striking. The enhancement of self-esteem of the entrepreneur, the expansion of companies’ choices are among the best assets produced by leasing. Despite the diversity and multiplicity of operating Leasing Funds, there is still a high unmet demand for credit. Further growth of the Leasing sector in Kazakhstan would positively affect the social and economic development of the country and contribute to the formation of a strong group of small and medium entrepreneurs. Leasing is a relatively new concept in Kazakhstan. The Agency of Statistics indicates that 506 small and medium firms received leasing credits in 2009, a 57 percent increase over the 323 firms that received leasing in 2008. Preliminary estimates for 2010 indicate that there are 600-700 active Leasing clients in Kazakhstan. The potential demand indicates an immediate market of 1400-2200 clients, but the ideal objective would be to provide financial services to all of Kazakhstan's 7000 firms. Even if the supply grows at an incredible rate, the supply of Leasing will not be adequate. There are very few Leasing Funds with a significant number of clients, resulting in a major population segment without access to modern financial services. The problem is that starting from the best practice in the country, a more concrete effort to expand services and outreach is needed. Leasing Funds are at the stage of experimentation in their development. Leasing methodologies should be updated in order to expand the outreach and the quality of services provided. International rating of Leasing is only at the very initial stages of development in Kazakhstan. Financial institutions belonging to all three levels of the credit system (commercial banks, nonfinancial banking institutions, credit partnerships and leasing organizations) should work to strengthen partnerships to offer a wider range of services to business. In addition to being an important segment of the financial market of the country, the Leasing sector can be an adequate economic tool to address the social problems by promoting long-term sustainable development.

3 1. Literature Review 6 1.1. Leasing Theory 6 1.2. Current Economic Views on the Problem of Leasing operations 11 1.3. The Effects of Leasing on economic development of the state 12 1.3.1. Leasing and Sustainability 12 1.3.2. Leasing social and economic impact 20 2. Research Methodology 23 2.1. Aim of Research 23 2.2. Research Customers and Procedures 24 2.2.1. Data Collection 24 2.2.2. Methodology of Evaluation 25 2.3. Validity and Reliability 26 3. Data Analysis 28 3.1. Leasing in Kazakhstan 28 3.1.1. Leasing sector outlook 28 3.1.2. Assesing Leasing demand and supply 31 3.1.3. Institutional actors: the state, international organizations and donors 40 3.1.4.Barriers for developing Leasing in Kazakhstan 45 3.2. Existing opportunities and challengers for developing leasing oiperations in Kazakhstan 46 3.2.1. Legal and policy improvements to enhance leasing 46 3.2.2. Alternatives to foster leasing development 50 3.2.3. Enhancing the impact of leasing on social and economic development 52 Conclusion 54 Recommendations 55 List of References 60 Appendixes 62

I. Internet sources: 1.http://www.fic.kz/Content/File/Invest/Taxation/Business_Investment_Guide_2006_en.pdf 2.http://www.ifc.org/ifcext/home.nsf/AttachmentsByTitle/CALeasing_05/$FILE/CALeasingSurvey2005_Eng%5B1%5D.pdf 3. http://www.adb.org/Clean-Energy/documents/KAZ-Country-Report.pdf 4. http://www.ihtinfo.com/pdfs/IHT_KazakhstanCaseStudy2010.pdf 5. http://www.shymkent.com/files/pdf/inetbiz/931114554715.pdf 6. http://pdf.usaid.gov/pdf_docs/PDACL606.pdf 7. http://www.unece.org/ceci/ppt_presentations/2007/eed/tox_e.pdf 8.http://portal.cbre.eu/portal/page/portal/research/publications/EMEA_FPR_ALMATY_PROPERTY_MV_Q2_2010_ENG.pdf II. Books and articles: 9. Ajai Nair, Renate Kloeppinger-Todd, Annabel MulderLeasing. An Underutilized Tool in Rural Finance, 2007. The International Bank for Reconstruction and Development / The World Bank 1818 H Street, NW Washington. 10. R. James Ferguson, 2007. Kazakhstan: from exploitation to nationhppd in Central Asia. 11. Sabitov A.S.The development of leasing operations in commercial banks in Kazakhstan. Moscow, 2009. 12. Yuriko Shoji. Leasing in Kazakhstan. Àlmaty 2005. 13. Baker & McKenzie - CIS, Limited. Doing Business in Kazakhstan. Samal Towers, Samal - 2, 14th floor 97 Zholdasbekov Street Almaty 050051 Kazakhstan, 2008. 14. Olcott, Martha Brill. Kazakhstan: Unfulfilled Promise, 2009. Washington: Carnegie Endowment for International Peace. 15. J. Wandel. Agroholdings and clusters in Kazakhstan’s agro-food sector. Theodor-Lieser-Straße 2, 06120 Halle (Saale), Germany, 2009.