Majilisman comments on UNPF’s investment in problematic bank of Azerbaijan

“To my mind, the management of the Unified National Pension Fund  probably did not consider all the risks . They should have studied them more thoroughly. I cannot say what parameters were taken into account, because I do not know all the data. If there are no guarantees, then this will be a direct damage to our fund, to our citizens’ pension savings,” said he.

“In my opinion, the management of the UNPF must  bear responsibility for this issue. The National Bank just determines the policy of using the UNPF reserves. Namely the UNPF management takes a decision where and how to invest the funds,” he added.

It should be noted that earlier well-known expert Rakhim Oshakbayev announced that 71.3 bln tenge of the UNPF assets had been invested in obligations of the problematic International Bank of Azerbaijan.