How The War In The Middle East Affected Kazakhstanis’ Pension Savings

National Bank head Timur Suleimenov commented on the risks to Kazakhstanis’ pension savings against the backdrop of instability in global markets, Orda.kz reports.

According to him, some of the assets of the UAPF and the National Fund are indeed invested in stocks and bonds, so their returns directly depend on the situation in global financial markets. If the value of securities falls, this may also be reflected in the funds’ performance.

What is good is that most of our securities are still invested in instruments of developed countries. Right now, the markets of Southeast Asia are under much greater pressure because they depend on oil that passes through the Strait of Hormuz. In the West — America, Great Britain, Europe — they do not rely on this oil in the same way. This oil goes, on the contrary, to the East, and therefore the financial markets of Korea, Japan and Southeast Asia are under greater pressure. he said on the sidelines of the Mazhilis. 

In this regard, according to the National Bank, the possible negative effect on pension savings will be small.

Separately, the head of the regulator commented on the situation with gold. According to him, the National Bank continues to buy it, and current prices remain high and provide good returns.

Original author: Ilya Astakhov

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