Madina Abilqasymova

Mädina Äbılqasymova
Born	(1978-08-01) August 1, 1978 Alma-Ata, Kazakhstan
Occupation	Politician
Years active	1999–present
Known for	Minister of Labour and Social Protection of the Population (2018–2019)

Mädina Erasylqyzy Äbılqasymova (; born 1 August 1978) is a Kazakhstani political figure who held the position of Minister of Labour and Social Protection of the Population between 2018 and 2019.

Early life and education

Äbılqasymova was born in Alma-Ata and completed her studies at Narxoz University in 1999, specializing in "International Economic Relations". She pursued further education abroad, obtaining a master's degree in International Relations with a focus on Economic Policy Management from Columbia University in 2003. Subsequently, she earned a Master of Public Administration from the John F. Kennedy School of Government at Harvard University.

Career

Beginning her professional journey in 1999, Äbılqasymova worked as chief specialist at Kazakhstan’s Agency for Strategic Planning. Between 2003 and 2004, she led the Strategic Planning Department within the Ministry of Economy and Budget Planning. In 2004, she assumed the role of director for the Department of State Policy Analysis at the JSC Center for Marketing and Analytical Research. From 2006 until 2008, she served as deputy head of the Socio-Economic Department within the Prime Minister's Office, later heading the Center for Strategic Research and Analysis under the Presidential Administration in 2008.

Her tenure as Vice Minister of Economic Development and Trade spanned from 2011 to 2013, during which she also represented Kazakhstan as Deputy Governor at the World Bank starting in 2012. Äbılqasymova then held the post of Vice Minister of Economy and Budget Planning (2013–2014), followed by Vice Minister of National Economy beginning August 2014. During her maternity leave in 2015, Aidar Arifhanov temporarily fulfilled her duties.

From February 9, 2018, to February 25, 2019, she was appointed Minister of Labor and Social Protection. Under her leadership, benefits allocated to mothers with multiple children were raised from 15,400 to 16,100 tenge. On an international scale, Kazakhstan’s policy provides lifelong financial support totaling several million tenge per mother—a program that generated public discussion. In February 2019, after a devastating fire in Astana resulted in the deaths of five children, societal attention increasingly focused on conditions faced by large families. The Ministry responded by implementing enhanced support measures aimed at more accurately targeting assistance.

Between March 12 and March 28, 2019, Äbılqasymova served as First Vice Minister of National Economy. On March 28, she was named Deputy Chairperson of the National Bank of Kazakhstan. In July 2020, she oversaw regulatory changes requiring microfinance organizations to obtain licenses by January 2021 to strengthen oversight within credit institutions. Later that year in November, she introduced a strategic plan for financial sector development designed to build a competitive and technologically advanced market by 2030. This plan emphasized adherence to international frameworks such as Basel III and Solvency II, promotion of digital banking services, increased transparency, and incorporation of ESG principles.

Since December 18, 2019, Äbılqasymova has led the Agency on Regulation and Development of the Financial Market. Amid the COVID-19 crisis in 2020, measures included deferring loan payments for individuals and small businesses alongside preferential lending initiatives coordinated with the National Bank. Additionally, unemployed citizens received monthly support payments amounting to 42,500 tenge. On October 28, 2021, she endorsed a methodology establishing target indicators within the Agency’s development strategy for 2020–2024. Key projects under her guidance encompass issuing tokenized mortgage bonds, creating an SME Guarantee Fund, broadening investment opportunities for insurance companies, and implementing reforms targeting insolvent banks.

Personal life

Abilqasymova is a married woman and mother to three children. Her father, Erasyl Abilqasymov (born 1948), is a distinguished physician, the author of The system of compulsory health insurance in the Republic of Kazakhstan, a former deputy of the 2nd Mazhilis, and was a candidate in the 2005 Kazakh presidential election.