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Gregory Marchenko. ©Vladimir Dmitriyev
Second wave of global crisis may have Kazakhstan spend $20 billion out of National Oil Fund: Gregory Marchenko

A total of $10 billion out of the Fund was spent to combat the crisis of 2008-2010.

Second wave of global crisis may have Kazakhstan spend $20 billion out of National Oil Fund: Gregory Marchenko
Gregory Marchenko. ©Vladimir Dmitryev
Rumors of currency devaluation born in beauty parlors and taxis: Gregory Marchenko, Governor of the National Bank

According to him, with the current prices for commodities the tenge is posed to strengthen.

Rumors of currency devaluation born in beauty parlors and taxis: Gregory Marchenko, Governor of the National Bank
Over half of Kazakhstanies use bank cards
Over half of Kazakhstanies use bank cards

The number of bank cards holders in Kazakhstan has reached 8.5 million people this year.

Over half of Kazakhstanies use bank cards
Gregory Marchenko. ©Vladimir Dmitryev
Kazakhstan capable of maintaining stability of the national currency: Central Bank Head

According to him, Kazakhstan’s exporters are in a better position than their Russian counterparts.

Kazakhstan capable of maintaining stability of the national currency: Central Bank Head
Gregory Marchenko. ©Vladimir Dmitryev
Speculative investors withdrew $3 billion from Kazakhstan in summer: Gregory Marchenko

According to him, the money had been invested to Kazakhstan’s instruments in February – May in hope for the tenge appreciation.

Speculative investors withdrew $3 billion from Kazakhstan in summer: Gregory Marchenko
Photo courtesy of deswal.ru
National Bank to exercise preemptive right to buy out all produced gold for 2-3 years to come

When commenting on the reasons behind the Bank’s decision to exercise its preemptive right to purchase Kazakhstan-produced gold, Mr. Marchenko pointed to lack of transparency in gold exports following the liberalization of the national market of precious metals.

National Bank to exercise preemptive right to buy out all produced gold for 2-3 years to come
REUTERS/Petr Josek Snr©
January – August net gold and currency reserves figures announced

Assets of the National Fund alone as of the end of August stood at $40.35 billion, 30.25% up from the start of the year.

January – August net gold and currency reserves figures announced
©nationalbank.kz
PHOTO: National Bank issued Al-Farabi and Aldar-Kosse coins

Kazakhstan National Bank issued Al-Farabi golden coin and Aldar Kosse silver coin.

PHOTO: National Bank issued Al-Farabi and Aldar-Kosse coins
Kazakhstanis steadily shifting from cash to cards
Kazakhstanis steadily shifting from cash to cards

Most Kazakhstanis (86.4%) believe cashless payments have the future, according to a recent survey carried out by ISAS Agency on behalf of Visa.

Kazakhstanis steadily shifting from cash to cards
Gregory Marchenko. © Yaroslav Radlovsky
It’s a pity emerging nations couldn’t agree on single candidate for the IMF managing director: Gregory Marchenko

According to him, if emerging nations don’t get prepared properly, the same thing may happen in 5 years’ time.

It’s a pity emerging nations couldn’t agree on single candidate for the IMF managing director: Gregory Marchenko
©Yaroslav Radlovskiy
National Bank forecasing food prices raise

Kazakhstan National Bank is forecasting an increase of prices for fruits, vegetables, eggs, milk and meat products, clothes, shoes and some of public utilities in Q4 2011.

National Bank forecasing food prices raise
Photo courtesy of themortgagedirectory.us
Government won’t be restricting prices for housing and growing mortgage rates

Kazakhstan is a market economy, so any attempts on the part of the government to bridle growing prices for housing or mortgage rates are inadmissible: National Bank.

Government won’t be restricting prices for housing and growing mortgage rates
National Bank. ©Yaroslav Radlovsky
National Bank suspends licenses of three banks for some banking operations

Senim bank, TAIB Kazakhstan, Credit Altyn and Al Hilal, first Islamic bank in Kazakhstan had their licenses suspended for three months.

National Bank suspends licenses of three banks for some banking operations
REUTERS/Petr Josek Snr©
Net gold and currency reserves grow

Net gold and currency reserves of the Kazakhstan’s National Bank grew by 31.44% from January to July, making up $36.3 billion as of the end of July.

Net gold and currency reserves grow
National Bank. ©Vladimir Dmitryev
Kazakhstan’s banks see growing demand for consumer loans

According to the National Bank, 47% of the country’s banks saw intensified demand for mortgages.

Kazakhstan’s banks see growing demand for consumer loans
National Bank. ©Vladimir Dmitryev
National Bank outlines major provisions of the recently adopted law on e-money

The draft was signed into law by President Nazarbayev July 21.

National Bank outlines major provisions of the recently adopted law on e-money
Kazakhstan banks’ assets total $87 billion as of July 1

Banks’ loan portfolio totaled $64 billion.

Kazakhstan banks’ assets total $87 billion as of July 1
Gregory Marchenko. By Vladimir Dmitriev ©
Banks’ milder policies boost interest to retail loans: National Bank Governor Gregory Marchenko

The interest is coupled with pent up demand.

Banks’ milder policies boost interest to retail loans: National Bank Governor Gregory Marchenko
Gregory Marchenko. Photo by Vladimir Dmitriyev©
Salary raise for public sector employees may affect inflation: Kazakhstan’s National Bank Governor Gregory Marchenko

Salaries of public sector employees have been raised by 30% since July 1.

Salary raise for public sector employees may affect inflation: Kazakhstan’s National Bank Governor Gregory Marchenko
National Bank Governor Gregory Marchenko. Photo courtesy of profinance.kz
National Bank Governor Gregory Marchenko in favor of obligatory real estate insurance

According to him, the reason why insurance schemes are not popular is mentality of public at large.

National Bank Governor Gregory Marchenko in favor of obligatory real estate insurance