Chief of the Executive Office of the President Nurlan Nigmatulin, Governor of the National Bank Kairat Kelimbetov, Deputy Prime Minister – Minister of Finance Bakhyt Sultanov, Assistant to the President on Economic Issues Yerbol Orynbayev, Minister of Economy and Budget Planning Yerbolat Dossayev and Deputies Governor of the National Bank attended the meeting.
The current issues and tasks of the financial sector of Kazakhstan were discussed at the meeting. The report of the National Bank in 2013 and the first quarter of 2014 was also presented to the President.
Nursultan Nazarbayev emphasised steady development of the country’s financial sector.
“Loan growth raised by 13 per cent against the year of 2013. Deposit portfolio reached KZT 10 trillion. Volume of the National Fund exceeds US$ 70 billion increasing by almost 22 per cent over the year. The country’s pension funds have already merged into one centralized state-run Accumulated Pension Fund. The insurance sector is also developing with its assets increased by 18 per cent. In order to apply systematic approaches to further strengthening of the financial sector the National Bank together with the Government should draft the concept for financial sector development. This work should be completed by June of the current year,” the President highlighted.
Kairat Kelimbetov briefed on the course of implementation of tasks, in particular on realisation of monetary policy and provision of stability of the financial sector.
Following the meeting, the President gave a number of instructions to the National Bank and the Government to reduce the level of non-performing loans, facilitate the transition of the banking sector to Basel III standards, strengthen consumer protection, improve the quality of financial services and develop the securities market.
