Kazakh President discusses introduction of digital tenge with Chairman of National Bank

Head of State Kassym-Jomart Tokayev received Chairman of the National Bank Galymzhan Pirmatov, El.kz  cites Akorda.

The Head of State was briefed on the preliminary results of the National Bank’s monetary policy in January-November 2022.

Tokayev was also informed about the situation in the foreign and domestic markets, inflation trend and forecast, as well as the state of gold reserves.

During the meeting, it was noted that the measures carried out by the Bank provide positive results such as rising deposits in the tenge to a historic high, stabilization of the monetary market, and expansion of lending to the economy.

The Kazakh President heard the outcomes of the study on the importance of the digital tenge’s introduction. According to Pirmatov, the platform with market participants, real consumers, and trade and service enterprises has been successfully tested. Once introduced, access to cashless payments, transparency of government spending, and creation of opportunities for innovative financial products are to be in place.

The National Bank’s Chairman pointed out that the introduction of the digital tenge is to be realized in three stages before 2025. The Head of State set instructions to further carry out the project.

Following the meeting, the President set tasks aimed at an effective implementation of the monetary policy.

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