Kazakh President charged to draft financial sector development concept 2030 by June

Head of the Presidential Administration Nurlan Nigmatulin, chairman of the National Bank Kairat Kelimbetov, Deputy Prime Minister - Finance Minister Bakhyt Sultanov, President's Economic Advisor Yerbol Orynbayev, Economy and Budget Planning Minister Yerbolat Dossayev and deputy chairmen of the National Bank attended the sitting. Those gathered considered the current issues and tasks of the country's financial sector and the National Bank report for 2013 and first quarter of 2014. As the President noted, the country's financial sector development may be characterized as stable. "The economic credits grew by 13% as compared to 2013. Volumes of household deposits reached KZT 10 trillion. The assets of the National Fund that is a guarantee of our economic security exceeded USD 70 bln. The process of integration of benefit assets into the United Pension Savings Fund has completed. The insurance market grows too, its assets increased by 18% for the period under review," the President said. Kelimbetov reported on the fulfillment of the tasks assigned to the National Bank, particularly, pursuance of the monetary policy and ensuring stability of the country's financial system. Following the results of the meeting, Nursultan Nazarbayev gave certain tasks to the National Bank and Government in an effort to reducing non-performing loans in the second-tier banks portfolio, enhancing protection of the rights of finance service consumers and raising the quality of financial services.