President Tokayev tasks National Bank to reduce inflation

Kazakh President Kassym-Jomart Tokayev introduced Timur Suleimenov appointed as the new National Bank Chairman to the leadership of the bank. According to Tokayev, the newly appointed chairman holds a huge experience in the financial and economic area as well as deep immersion in the activity of the financial regulator, El.kz cites the Akorda press service.

The President thanked Galymzhan Pirmatov for the work he did as well as noted that thanks to the measures taken the macroeconomic and financial stability was ensured.

Tokayev noted that the National Bank faces key tasks to reduce the inflation, promote financial technologies and innovations, as well as roll out a national payment system next year.

«This is not the first year we ponder over the task to ensure sufficient loans available to businesses. I already stated on the importance of accelerating this work in my address to the Kazakhstani people. It is very important to find a balanced solution to this issue, actively stimulate the introduction of new approaches, instruments, and mechanisms. Special attention needs international financial cooperation and interaction of the National Bank and central banks and financial institutes of third countries. Given the current geopolitical circumstances, greater interest to our financial system is seen from global regulators. Therefore, it is very important to find a balance in establishing such relations and ensuring a proper risk assessment and consequences for the country’s financial security,» said Tokayev.

The Kazakh President expressed confidence that the National Bank’s staff will implement all the tasks set.

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