Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of May 29, 2003 No. 165

Rules about the basic principles of management of gold and exchange assets of National Bank of the Republic of Kazakhstan

These rules are developed according to the Law of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan" (further - the Law on National Bank), for the purpose of ensuring internal and external stability of national currency and establish the basic principles of implementation of the operating activiies connected with management of gold and exchange assets (STAR) which include determination of structure of portfolios the STAR, risk management, establishment of limits, procedure for decision making and authority delegation, and also the procedure of establishment of the dealing relations of National Bank of the Republic of Kazakhstan (National Bank).

1. General provisions

1. The STAR of National Bank are created and used for the purpose of ensuring stability and convertibility of national currency, implementation of payments according to obligations of the Republic of Kazakhstan, are one of forms of national wealth of the Republic of Kazakhstan.

2. Structural division of National Bank to which functions on management the STAR are assigned is the Department of monetary transactions, and regarding determination of the parameters of risk approved by the Investment strategy on management the STAR - Management of riskmenedzhment.

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