Mechanism of investing retirement assets to be transparent and clear - NB
13:05, 28 April 2016
ASTANA. KAZINFORM The National Bank has developed a transparent and a clear mechanism of investing the retirement assets of the Unified Accumulative Pension Fund. This mechanism takes into account the crediting potential of the second-tier banks as well as the structure of assets and obligations. The mechanism was approved at a meeting of the Board of Directors of the National Bank in March 2016, Kazinform learnt from the press service of the Bank.
As a press release reads, this mechanism determines maximum possible volume of retirement assets to be invested in each second-tier bank. The indicators applied in the mechanism are aimed at balancing the structure of assets and liabilities of the second-tier banks and preventing significant deviations.
The retirement assets of the Unified Accumulative Pension Fund will be invested in second-tier banks’ financial instruments given that the latter or their parent organizations are rated by an international rating agency.
As per the given mechanism, 30 out of 35 banks are participating in the program of financing small and medium businesses’ working capital and refinancing loans by means of the retirement assets.