Unified Pension Savings Fund reserves likely to be used for banks and housing construction financing - Kelimbetov

ASTANA. KAZINFORM The reserves of the Unified Pension Savings Fund will be likely used for crediting banks and housing construction sector. National Bank Chairperson Kairat Kelimbetov said during a discussion of the draft Constitutional Law of Kazakhstan "On International Financial Centre "Astana" at the Majilis' plenary session today.

"Presently, we are working together with the Government on crediting issues and consider an opportunity of using the huge reserves of the Unified Pension Savings Fund for financing economy, namely, banks and housing construction," he said. The chief banker said also that rate of tenge for the nearest outlook cannot be forecast now, as it depends on oil price.