According to Timur Suleymenov, head of the National Bank, the regulator is going to invest assets of the Unified Accumulative Pension Fund (UAPF), which is under the control of the National Bank, in long-term bonds issued by commercial banks.
As the official noted, Kazakhstani banks need stable sources of funding in order to provide financial resources for long-running projects. UAPF funds might be one of these sources.
However, in order to obtain pension money a credit organization must meet certain requirements of financial stability. No details were provided though. It’s also unclear whether the regulator will require an additional buffer...