Press release on Progress achieved by participating banks in fulfilling the requirements of the Law of the Republic of Kazakhstan “On National Educational Savings System”

Currently, the participating banks in the National Educational Savings System (hereinafter - NESS) are Halyk Bank of Kazakhstan JSC, Jýsan Bank JSC, Subsidiary of VTB Bank JSC, ForteBank JSC, Nurbank JSC, which meet the requirements of the Law of the Republic of Kazakhstan “On National Educational Savings System” as second-tier banks.

According to the Register of the Kazakhstan Deposit Guarantee Fund, as of March 18, 2021, all the above-stated banks are participants in the compulsory deposit guarantee system.

In accordance with the information of the Agency of the Republic of Kazakhstan for Financial Market Regulation and Development, as of March 3, 2021, the participating banks of the National Educational Savings System have licenses to accept deposits, open and maintain bank accounts of individuals, and conduct cash transactions.

Within the framework of the National Educational Savings System, more than 21,000 educational savings deposits for the amount of more than KZT26 billion have been currently registered.

At the moment, 116 agreements in the National Educational Savings System have been concluded with universities and 561 agreements with colleges of the Republic of Kazakhstan for monitoring of students studying at the expense of the National Educational Savings System contributions.