Kazakh President Sets Task to National Bank’s New Chair

ASTANA — Kazakh President Kassym-Jomart Tokayev outlined key tasks to the new Chair of the National Bank, Timur Suleimenov, during a Sept. 4 meeting with the bank’s leadership, reported the Akorda press service.

Kassym-Jomart Tokayev thanked Galymzhan Pirmatov (second to the left of the President) and greeted new Chair of National Bank Timur Suleimenov (first left). Photo credit: Akorda.

Tokayev underlined Suleimenov’s extensive experience in the financial and economic field. He headed the socio-economic block of the Presidential Administration for more than four years.

The President thanked Galymzhan Pirmatov for the work done and noted that implemented measures ensured macroeconomic and financial stability.

According to Tokayev, the National Bank faces important tasks to reduce inflation, develop financial technologies and innovations, and fully launch the national payment system next year.

The President outlined the need to ensure sufficient business lending and find balanced solutions to accelerate the introduction of new approaches, tools and mechanisms. 

“The bank should pay particular attention to international financial cooperation and interaction with central banks and financial institutions of third countries. Global regulators are becoming increasingly interested in the Kazakh financial system in the current geopolitical conditions. Therefore, it is important to find a golden mean in building such relations and ensure a proper assessment of the risks and consequences for the country’s financial security,” Tokayev said, expressing confidence that the National Bank staff members would implement all the tasks set.

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