Theoretical Aspects of Legal Regulation of Financial Activities of the State

Esil University, Astana, Kazakhstan

^* Corresponding author: ingaryumkina@gmail.com

Abstract

This study explores the legal regulation of financial activities in Kazakhstan, highlighting key challenges and proposing solutions. The research aims to identify legal gaps affecting financial stability and state economic functions. The findings indicate that frequent legislative changes, particularly in tax and banking laws, create uncertainty for investors and hinder financial planning. The study reveals that Kazakhstan lacks a stable legal framework for financial regulation, leading to inefficiencies in financial management and economic policy implementation. A major gap is the absence of a well-defined legal concept of state financial activity, which affects the coherence of financial laws. The study underscores the need for systematic legal reforms to ensure financial sovereignty and improve investment attractiveness. Comparative analysis with European financial regulations highlights potential strategies for strengthening Kazakhstan’s legal framework. The implications of the research suggest that clear, stable financial legislation is crucial for sustainable economic development and global competitiveness. Future research should focus on integrating international best practices into Kazakhstan’s financial regulation to enhance legal stability and economic efficiency.