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Photo by Yaroslav Radlovskiy©
Maximum interest rates on deposits cut in Kazakhstan on July 1

Kazakhstan Deposit Guarantee Fund decreased maximum interest rates on bank deposits for individuals starting from July 1.

Maximum interest rates on deposits cut in Kazakhstan on July 1
©REUTERS
State educational deposits system may be launched in Kazakhstan in 2012

The system’s mechanism and draft law are being prepared in Kazakhstan: Education Ministry.

State educational deposits system may be launched in Kazakhstan in 2012
©REUTERS
Individual retail deposit amount guaranteed by the state reaffirmed for 2012

This measures means that in case of a bank winding-up the Deposit Guarantee Fund (owned by the National Bank of Kazakhstan) will compensate each individual depositor for the lost savings within KZT 5 million.

Individual retail deposit amount guaranteed by the state reaffirmed for 2012
Photo courtesy of pm.kz
Majority of Kazakhstan residents willing to save money with the state

A majority of Kazakhstan residents are ready to participate in state educational deposits systems.

Majority of Kazakhstan residents willing to save money with the state
Photo courtesy of mn.ru
Educational loans system to be developed in Kazakhstan

It is important to create legal conditions for development of the system of guaranteed educational loans: Nursultan Nazarbayev.

Educational loans system to be developed in Kazakhstan
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
©RIA Novosti
Labor Ministry rejects suggestion to open a deposit worth $1000 for every newly born baby

The state had better take some measures to protect the nation against slump of prices [for commodities that ensure most of the budget revenues]: Labor Ministry.

Labor Ministry rejects suggestion to open a deposit worth $1000 for every newly born baby
Gregory Marchenko. By Vladimir Dmitriev ©
Individual retail deposit amount guaranteed by the state to remain intact: Central Bank Chairman

Starting from 2012 the amount was to be reduced from KZT 5 million ($34.2 thousand) to KZT 1 million ($6.8 thousand).

Individual retail deposit amount guaranteed by the state to remain intact: Central Bank Chairman
National Bank. ©Vladimir Dmitryev
National Bank to make suggestions on deposit insurance scheme for individuals

Kazakhstan had reinforced its deposit insurance scheme by increasing the individual retail deposit amount guaranteed by the state to KZT 5 million ($34.2 thousand) from KZT 700 thousand ($4.7 thousand) late 2008.

National Bank to make suggestions on deposit insurance scheme for individuals
Kazakhstan youth does not believe in promises of Education Ministry. Photo courtesy of kp.ru
Kazakhstan youth does not trust educational deposits

Kazakhstan youth organizations do not trust educational deposits system and keep collecting signatures against the innovation.

Kazakhstan youth does not trust educational deposits
©Aizhan Tugelbayeva
Kazakhstan young people against educational deposits

Kazakhstan youth organizations disagree with the Education Ministry's decision to introduce educational deposits.

Kazakhstan young people against educational deposits
Bakytzhan Zhumagulov. Photo by Yaroslav Radlovskiy©
Educational deposits to appear in Kazakhstan by 2015

Educational accounts will let parents save up for their children's education in Kazakhstan. They won't be able to cash out the accounts. The fund will be directly transferred from the bank to the university of choice.

Educational deposits to appear in Kazakhstan by 2015
By Yaroslav Radlovsky ©
Banks assets stand at $84.6 billion as of April 1

Total deposits grew 3.9% in March, making up $49.5 billion, with 67.8% being deposits of legal entities.

Banks assets stand at $84.6 billion as of April 1