ID :
87597
Tue, 11/03/2009 - 14:01
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Shortlink :
https://oananews.org//node/87597
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Subscription for MAOKAM state bonds to end soon
Astana, November 2, 2009 (Khabar) - The subscription for MAOKAM state bonds is about to end in Kazakhstan. The Finance Ministry promised to later unveil the exact number of people who purchased highly liquid bonds. Meanwhile, the ministry officials say the pilot project was a success and its main target was reached.
Berik Sholpankulov, deputy minister for finance of RK:
- One bond costs 10 US dollars and the securities are issued for two and three year terms with 6.5% and 6.7%. If someone buys one 1500 tenge bond he gets an income of up to 300 tenge per bond.
The Finance ministry stated that the MAOKAM bonds are not in competition with commercial bank deposits. The incomes brought by state bonds are much lower than that of bank deposits but the MAOKAM has a no risk advantage over deposits as the government is in charge of timely interest payments.
Bolat Zhamishev, Minister for Finance of RK:
- The government is responsible for its liabilities and such securities are known to be the most reliable ones all over the world.
Berik Sholpankulov, deputy minister for Finance of RK:
- The issue is performed through a transfer agent, KazPost. Any citizen who has an ID and tax payer’s registration number can buy such kinds of securities at any KazPost office and choose whether to buy a two or three year bond.
First-time issued MAOKAM securities can be purchased by private investors only while second-hand bonds are available for legal entities as well.
Altyn Tenisbayeva, acting director, State Lending Department, Ministry for Finance of RK:
- Private investors who have already bought MAOKAM securities can sell them on the market through KazPost and receive corresponding income.
This is a pilot project which was launched on the 21st of October. Residents of Almaty, Astana, the Akmola, Kostanai and East Kazakhstan regions were named as the most active buyers. The MAOKAM are becoming more and more popular which is why the Ministry is considering the possibility of prolonging the term of MAOKAM bond selling.
Berik Sholpankulov, deputy minister for finance of RK:
- One bond costs 10 US dollars and the securities are issued for two and three year terms with 6.5% and 6.7%. If someone buys one 1500 tenge bond he gets an income of up to 300 tenge per bond.
The Finance ministry stated that the MAOKAM bonds are not in competition with commercial bank deposits. The incomes brought by state bonds are much lower than that of bank deposits but the MAOKAM has a no risk advantage over deposits as the government is in charge of timely interest payments.
Bolat Zhamishev, Minister for Finance of RK:
- The government is responsible for its liabilities and such securities are known to be the most reliable ones all over the world.
Berik Sholpankulov, deputy minister for Finance of RK:
- The issue is performed through a transfer agent, KazPost. Any citizen who has an ID and tax payer’s registration number can buy such kinds of securities at any KazPost office and choose whether to buy a two or three year bond.
First-time issued MAOKAM securities can be purchased by private investors only while second-hand bonds are available for legal entities as well.
Altyn Tenisbayeva, acting director, State Lending Department, Ministry for Finance of RK:
- Private investors who have already bought MAOKAM securities can sell them on the market through KazPost and receive corresponding income.
This is a pilot project which was launched on the 21st of October. Residents of Almaty, Astana, the Akmola, Kostanai and East Kazakhstan regions were named as the most active buyers. The MAOKAM are becoming more and more popular which is why the Ministry is considering the possibility of prolonging the term of MAOKAM bond selling.
