A DIALOGUE BENEFICIAL TO EVERYONE!The pension system is a topic that affects everyone, regardless of age or profession. A person’s financial stability and confidence in the future depend on how well they understand the principles behind the accumulation of pension savings.In an interview with the Unified Accumulative Pension Fund (UAPF) as part of the "Dialogues on the Pension System" project, Yelena Bakhmutova, Chair of the Council of the Association of Financiers of Kazakhstan, discussed key changes—both implemented and planned—within the pension system. She addressed the role of personal savings, the importance of long-term financial planning, and other pressing issues.On ReformsYelena Bakhmutova:"Following a directive from the Head of State issued earlier this year, the Agency for Regulation and Development of the Financial Market began developing a 'capital market development program'—as they have termed it—which spans the period up to 2030.The program, which was recently presented, includes a number of new proposals aimed directly at improving the efficiency of pension asset management. It is important to note that this is an ongoing reform; it encompasses both the scope of the Ministry of Labor and Social Protection of the Population—which is responsible for developing approaches to citizens' pension provision—and specific components, such as the management of pension savings.What is new in this program? It did not emerge from a vacuum; the program has been in development since the beginning of the year, following extensive discussions with market participants—specifically, investment portfolio managers. As you may know, the option already exists for Kazakhstani citizens to transfer their savings to private management companies, should they choose to do so.The regulator has now proposed that these management companies offer a variety of investment strategies, tailored to individuals of different ages." Currently, private asset management companies can offer three types of portfolios—high-risk, moderate, and conservative—from which an account holder can choose. Naturally, these companies do not manage the assets themselves; rather, they select specialized firms to professionally manage the accumulated funds. Throughout this process, all regulatory standards—including the safeguarding and segregation of assets, as well as the custodial separation of a firm’s own assets from pension assets—remain in place. Record-keeping will continue to be handled by the Unified Accumulative Pension Fund.Furthermore, a new option is emerging: in the future, the National Bank may also offer account holders a more diversified portfolio structure. How is this envisioned? Essentially, account holders within this "default" portfolio will be gradually transitioned into different age-based cohorts.On Inflation, Investing, and PerformanceElena Bakhmutova:"Just this past month, thanks to joint anti-inflationary measures, we have managed to bring inflation down—specifically to 9.8%, which is below the 10% mark.Over the years, there have been periodic spikes in inflation, periods of instability, and even crises; therefore, performance should be evaluated over a longer timeframe. Returning to the portfolios: for a high-risk portfolio, it is appropriate to assess performance over a period of about five years. For a moderate portfolio, a three-year horizon is suitable, while a conservative portfolio can, in principle, be evaluated on an annual basis. It really depends on the specific type.As for how performance is measured—private asset managers operate against benchmarks, a standard that is currently in effect. If they deliver returns in line with these benchmarks, it serves as an indicator that their management is effective." In other words, if fund managers achieve a certain level of return, that’s excellent; if the return is lower, it means the manager is inefficient. It is very straightforward to track performance here. Previously, the National Bank did not have a benchmark. However, under the current proposal, the Bank will delegate asset management; the entities receiving these mandates—whether they are foreign or domestic managers—will operate against specific benchmarks tailored to the markets they manage or the structure of the mandate they have been assigned. Consequently, the National Bank will effectively transition to a system based on benchmarks.On personal responsibility and the importance of monitoring pension savingsThe modern pension system relies on a tripartite responsibility shared by the state, the employer, and the individual contributor. Regular pension contributions, along with the investment income generated from them, play an increasingly vital role in securing one’s financial well-being after retirement. Today, contributors can monitor their incoming contributions, the total value of their savings, and any accrued investment income through the digital services provided by the Unified Accumulative Pension Fund (UAPF). Such oversight helps in identifying potential errors in a timely manner, tracking the growth of one’s savings, and evaluating...https://youtu.be/7aOL1vROqU4?si=rPWAdLERy2hgROqjSource : https://www.gov.kz/memleket/entities/social-abay/press/news/details/1312958?lang=ru

Baghdad, October 18, 2026 – During the 52nd Session of the Council of Foreign Ministers of the Organization of Islamic Cooperation (OIC CFM), held in the capital of the Republic of Iraq, Ambassador Bagdat Amreyev, representing the Republic of Kazakhstan, was unanimously elected to the position of Assistant Secretary-General of the Organization of Islamic Cooperation for Administration and Finance. During the session, Ambassador Bagdat Amreyev also took the oath of office, officially assuming his duties.The election of Kazakhstan’s representative to one of the senior leadership positions within the OIC General Secretariat, the second-largest intergovernmental organization after the United Nations in terms of the number of Member States, reflects the high level of trust placed in Kazakhstan by OIC Member States and recognition of its contribution to strengthening multilateral cooperation. This decision is expected to further enhance cooperation between Kazakhstan and the OIC and promote joint initiatives in the interests of the Organization’s Member States.Source : https://www.gov.kz/memleket/entities/mfa/press/news/details/1312959?lang=ru

Amman, 17 October 2026 – The Embassy of the Republic of Kazakhstan to the Hashemite Kingdom of Jordan participated in the 62nd Annual International Diplomatic Charity Bazaar.The event was held at Al Hussein Youth City in Amman under the patronage and with participation of Her Royal Highness Princess Basma Bint Talal. The Bazaar serves as a platform for showcasing the cultural diversity of countries around the world, presenting national traditions and strengthening humanitarian ties.The Kazakh pavilion, designed in the form of a traditional yurt, attracted considerable interest from visitors. Guests had the opportunity to learn about Kazakhstan’s cultural heritage, national clothing and jewellery, purchase souvenirs, and taste some Kazakh cuisine.During her visit to the pavilion, Princess Basma Bint Talal was welcomed by staff members of the Embassy of Kazakhstan. The Princess noted that the Kazakh pavilion had enjoyed popularity among Bazaar visitors for many years and holds a special place among the participating exhibitions.For reference: The Mabarrat Um Al-Hussein organisation was founded in 1958 by the late Queen of Jordan Zein Al-Sharaf (wife of the late King of Jordan Talal bin Abdullah and mother of the late King of Jordan Hussein bin Talal).It is one of the first charitable organisations in Jordan and provides residential care and education for boys aged 6 to 18 from disadvantaged families.The proceeds raised during the Bazaar are directed towards supporting the organisation’s activities.Source : https://www.gov.kz/memleket/entities/mfa-amman/press/news/details/1312952?lang=ru

Dushanbe, 18 October 2026 - Ambassador-at-Large of the Ministry of Foreign Affairs of the Republic of Kazakhstan Murat Mukushev took part in the meeting of the Council of National Coordinators of the Shanghai Cooperation Organisation (SCO) Member States, held in Dushanbe on 15-18 October 2026.During the meeting participants discussed a wide range of issues related to the advancement of trade and economic, cultural and humanitarian cooperation within the SCO framework. They held an in-depth exchange of views on the schedule of SCO events at the highest and senior levels for 2026-2027.Particular attention was devoted to preparations for the forthcoming meeting of the SCO Member States’ Council of Heads of Government (Prime Ministers), to take place in Dushanbe on 19-20 October 2026. The discussions focused, inter alia, on the draft outcome documents addressing transport and transit connectivity, the strengthening of financial cooperation, and further efforts to enhance the functioning of the Organisation.Following the meeting, the national coordinators agreed to pursue practical measures to further improve the efficiency of the SCO’s mechanisms and advance multifaceted cooperation among its Member States.The Council of National Coordinators of the SCO Member States serves as a coordinating mechanism for the Organisation’s ongoing activities and facilitates interaction among the relevant ministries and government agencies of the SCO Member States.Source : https://www.gov.kz/memleket/entities/mfa/press/news/details/1312939?lang=ru

Baghdad, October 18, 2026 – Deputy Minister of Foreign Affairs of the Republic of Kazakhstan Arman Issagaliyev participated in the 52nd Session of the Council of Foreign Ministers of the Organization of Islamic Cooperation (OICCFM).​​During the meeting, the heads of delegations of the OIC Member States discussed pressing issues on the international and regional agenda, paying particular attention to the situation in the Islamic world and ways to resolve military-political and humanitarian crises, including the Palestinian-Israeli conflict. The participants emphasized the importance of intensifying diplomatic efforts aimed at de-escalating tensions in the Middle East, strengthening peace and ensuring regional stability.​In his statement, Arman Issagaliyev reaffirmed Kazakhstan’s unwavering commitment to the peaceful settlement of international and regional conflicts exclusively through political and diplomatic means, in accordance with the principles of international law and the UN Charter. He also underscored the importance of strengthening multilateral dialogue and consolidating the efforts of the OIC Member States to promote peace, security and sustainable development.​Particular importance was attached to issues of relevance to Kazakhstan, including nuclear non-proliferation, strengthening food security, developing transport and logistics connectivity, expanding cooperation in artificial intelligence, digitalization and advanced technologies, as well as promoting environmental initiatives, including the rehabilitation of the territory of the former Semipalatinsk Nuclear Test Site.​An important outcome of the session for Kazakhstan was the election of Ambassador Bagdat Amreyev to the position of Assistant Secretary-General of the Organisation of Islamic Cooperation for Administration and Finance. This decision demonstrates the high level of trust among OIC member states in Kazakhstan and recognizes its contribution to the development of multilateral cooperation within the Organization​Following the 52nd Session of the OIC Council of Foreign Ministers, a package of resolutions covering political, economic, legal, cultural and humanitarian issues was adopted. All initiatives put forward by Kazakhstan were duly reflected and incorporated into the relevant outcome documents of the OIC CFM.Source : https://www.gov.kz/memleket/entities/mfa/press/news/details/1312926?lang=ru