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Ahmad Fontan, Ismael

Finance, Competitiveness & Innovation Global Practice (FCI), World Bank
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Fontan, Ismael Ahmad
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Finance, Competitiveness & Innovation Global Practice (FCI), World Bank
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Last updated: February 21, 2024
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Ismael Ahmad Fontan is senior financial sector specialist in the Financial Sector Advisory Center (FinSAC) of the Finance, Competitiveness and Innovation Global Practice of the World Bank. He specializes in banking regulation, supervision, resolution, and sustainability. Ismael joined the World Bank in 2019 and has worked in many countries across Southeastern and Eastern Europe, the South Caucasus, Central Asia, East Asia, and Africa. Before joining the World Bank, Ismael worked in the Banking Supervision and Regulation Departments of the Bank of Spain and held senior positions in consulting businesses (PwC and Bluecap Management Consulting). He has a degree in law and business administration from ICADE.

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    Braced for Impact: Reforming Kazakhstan’s National Financial Holding for Development Effectiveness and Market Creation
    (Washington, DC: World Bank, 2023-11-05) Melecky, Martin; Di Benedetta, Pasquale; Ahmad Fontan, Ismael; Jambal, Ganbaatar; Noel, Michel
    Braced for Impact: Reforming Kazakhstan’s National Financial Holding for Development Effectiveness and Market Creation offers a framework for assessing the readiness of development finance institutions (DFIs) and their conglomerates to deliver credible development impact and create financial markets. The framework focuses on accountability for impact, responsible leveraging of entrusted capital, holistic risk management, and proper governance. It is used to assess Baiterek, Kazakhstan’s national financial holding—a conglomerate of DFIs—and to derive policy options and practical recommendations for the given country context. If the recommended reforms are implemented, Baiterek will be braced for positive impact on Kazakhstani firms, households, and the environment while also helping create deeper financial markets through robust mobilization of private capital. A reformed Baiterek could become a leading global DFI conglomerate and a role model for similar institutions in other countries. However, if too few or none of the recommended reforms are undertaken, Baiterek will need to brace for further criticism from unhappy stakeholders.