Starting from next year, part of the assets will be managed by private companies (…) to develop the People’s IPO Program and take part in IPOs run by various companies. The National Bank will be responsible for investing into government securities: Central Bank Governor.
The National Bank of Kazakhstan has responded to the criticism of several members of the Kazakh Parliament, who claimed the Single Pension Fund was practicing risky investments that put the pensioneers' savings in danger.
Kazakhstan MP of Ak Zhol faction voiced their serious concern over the investments the Single Pension Fund was practicing. In their opinion, these activities may lead to destabilization of the entire lending sector of Kazakhstan.
“I commission the National Bank and the Government to work out a strategy to invest the assets of the Pension Fund, including depositing the money with Kazakhstan-based banks for a long term”, President Nazarbayev said earlier.