Kazakhstan’s President Nursultan Nazarbayev instructed the Government late January to merge all the pension funds into a single government-owned entity.
The compound of the Single Pension Fund’s Managing Board is subject to Kazakhstan President’s approval. It is to include reps of the Government, Central Bank, financial market players as well as independent experts.
The issue has nothing to do with devaluation. The new note is being issued to celebrate the 20th anniversary of the Tenge, Kazakhstan’s national currency: Gregory Marchenko.