Daily Times

The gold portfolio of the National Bank of Kazakhstan as of November 5, 2018 amounted to 342 tons, or the equivalent of 13.5 billion US dollars, which puts Kazakhstan in 15th place in the world in terms of precious metal reserves, reports the press service of the bank.

“Since the implementation of the priority right of the state to purchase refined gold to replenish assets in precious metals, the National Bank has acquired about 221 tons of refined gold in bullion from domestic producers,” the statement reads.

In May 2017, the National Bank launched a program for the sale and repurchase of refined gold ingots for the population.

Gold bars are sold through second-tier banks - Halyk Bank of Kazakhstan JSC, Eurasian Bank JSC and Tsesnabank JSC. The main factor in ensuring the liquidity of the gold bullion market is the possibility of their redemption by second-tier banks with the payment of money to the client “on the same day”.

Gold bars are presented in five varieties: 5, 10, 20, 50 and 100 grams. To date, banks have sold more than 180 kilograms of gold.

“The Qazaq Times”