Kazakh National Bank’s Invest Online goes mainstream

ASTANA – Kazakh National Bank’s Invest Online system is becoming popular among citizens. The advantages of the system include online service, guaranteed investments in government securities with no risk of lost funds and an opportunity to return investments with accumulated income at any time.

Photo credit: kazpravda.kz.

Invest Online is a simple and free tool for individuals to invest in state securities, said National Bank’s payment systems department director Yerlan Ashybekov, according to its press service.

He noted the product can be used by any Kazakh citizen, with no need for special knowledge. Personal visits to financial organisations are not required, as documents are signed through the mobile application or website. The simplest way to begin Invest Online is with an electronic digital signature, which can be obtained in any population service centre.

Users can purchase short-term notes remotely in one action. Selling them and receiving guaranteed income is also easy, as all operations are available online 24/7. The programme has confirmed its demand in the five months since its launch, as citizens have purchased 304 million tenge (US$812,000) in notes.

On average, citizens are expected to invest approximately 2 million tenge (US$5,340) every day, buying more than 20,000 short-term notes, according to the press service. Positive growth has been recorded in the volume of operations ($129,000 in April, $200,000 in July).

One advantage of the programme is the ability to invest small amounts – individuals can start with as little as $0.30. In addition, the number of investments and their terms are not limited.

“All operations in the system are free of charge, including input and withdrawal of money and operations for buying. Selling short-term notes are not charged as well. The income received from the sale of short-term notes is not taxed,” said Ashybekov.

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