Kazakhstan National Bank overview, tasks, functions

More information about Kazakhstan economy in Kazakhstan.

Kazakhstan National Bank overview

Kazakhstan has a two-tier banking system. Kazakhstan National Bank is the central bank of Kazakhstan and presents the upper (first) tier of Kazakhstan banking system. All other banks present lower (second) tier of the banking system, excluding Kazakhstan Development Bank, that has peculiar legal status.

Kazakhstan National Bank facts

The National Bank of Kazakhstan represents within the limits of its authority, the interests of Kazakhstan republic in the relations with the central banks, with banks of other countries, with international banks and other financial-credit organizations. Kazakhstan National Bank should not be guided by the aim of gaining profit in performing its tasks.

Kazakhstan National Bank is accountable to the President of the Republic of Kazakhstan, but within the limits of authority granted by the legislation, is independent in its activity. Kazakhstan National Bank coordinates its activity with Kazakhstan Government, in its activity takes into consideration the economic policy of the Government and facilitates its implementation, if doing so is not in conflict with the realization of its main functions and implementation of monetary policy.

The primary goal of Kazakhstan National Bank is to ensure the stability of prices in Kazakhstan.

Kazakhstan National Bank tasks

  • development and implementation of the state’s monetary policy;
  • support of payment system functioning;
  • implementation of foreign exchange regulation and foreign exchange control;
  • assistance for maintenance of financial system’s stability.

Kazakhstan National Bank functions

  • realization of the state monetary policy in Kazakhstan;
  • issuance of banknotes and coins on the territory of Kazakhstan;
  • the function of a bank of banks;
  • the financial advisor and financial agent of the Kazakhstan Government;
  • organization and supervision of functioning of payment system;
  • realization of currency control and currency regulation in Kazakhstan;
  • management of the gold currency assets of the National Bank of Kazakhstan;
  • control and supervision over the activities of the financial organizations and regulation of their activities within the competence of the National Bank of Kazakhstan;
  • management of assets of the National fund of Kazakhstan.

Kazakhstan National Bank contacts

Kazakhstan National Bank address: 21 “Koktem-3”, Almaty city, 050040, Republic of Kazakhstan.

Kazakhstan National Bank contact phone: +7-727-2704-591.

Kazakhstan National Bank contact e-mails: hq@nationalbank.kz and hq@nbrk.kz

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