{"faq_id":"a8f39210-816c-4cdf-b2dc-aa28070d4480","code":"national-bank","kind":"faq","canonical_slug":"national-bank","section":{"id":20,"code":"power","slug":"power","title":"Government"},"lang":"en","question":"National Bank","short_answer":"The National Bank is the central bank of the Republic of Kazakhstan. Its primary objective is price stability; it also works on monetary policy, payment systems, currency regulation and financial stability. The Chair of the National Bank is appointed by the President.","blocks":{"answer_html":"<h2>Status</h2>\n<p>The National Bank is the <strong>central bank</strong> of the Republic of Kazakhstan. It is a constitutional-level institution because price stability and trust in money are fundamental to the functioning of the state and the economy.</p>\n<h2>Main objective</h2>\n<p>Its primary objective is:</p>\n<ul>\n<li>ensuring price stability\nIt contributes to financial stability, payment-system reliability and currency regulation, but it does not set retail prices directly.</li>\n</ul>\n<h2>Key functions</h2>\n<p>The National Bank performs several core functions:</p>\n<ul>\n<li>conducts monetary policy through the base rate, liquidity tools and inflation expectations</li>\n<li>manages foreign exchange reserves</li>\n<li>supports financial stability together with other regulators</li>\n<li>issues the national currency</li>\n</ul>\n<h2>Appointment of the Chair</h2>\n<p>The Chair of the National Bank is appointed:</p>\n<ul>\n<li>by the President</li>\n<li>and dismissed by the President</li>\n</ul>\n<h2>Independence and accountability</h2>\n<p>A central bank must have enough independence to make monetary decisions without short-term political pressure.</p>\n<p>At the same time, it must remain publicly accountable:</p>\n<ul>\n<li>for major policy directions</li>\n<li>for implementation of monetary objectives</li>\n<li>for the legality and stability of the financial framework</li>\n</ul>\n<h2>Why this matters</h2>\n<p>Inflation, currency stability, and trust in the financial system affect everyday life directly. That is why the National Bank is not merely a technical body but a major constitutional institution.</p>\n","facts_html":"<ul>\n<li>The National Bank is the central bank of Kazakhstan</li>\n<li>Its main objective is price stability</li>\n<li>The Chair is appointed and dismissed by the President</li>\n<li>It combines monetary-policy independence with constitutional accountability</li>\n</ul>\n","what_not_change_html":"","where_detailed_html":"","misconceptions_html":""},"updated_at":"2026-07-16T00:00:00+00:00","article_refs":[{"number":2,"title":"National Currency and Tenge Issuance"},{"number":43,"title":"Appointment of the National Bank Chair"},{"number":58,"title":"Participation in Kurultai Sittings"},{"number":95,"title":"Transitional Appointment of the National Bank Chair"}],"entity_links":[{"type":"constitutional_article","number":2,"label":"Article 2","title":"National Currency and Tenge Issuance","href":"/full-text?lang=en#article-2"},{"type":"constitutional_article","number":43,"label":"Article 43","title":"Appointment of the National Bank Chair","href":"/full-text?lang=en#article-43"},{"type":"constitutional_article","number":58,"label":"Article 58","title":"Participation in Kurultai Sittings","href":"/full-text?lang=en#article-58"},{"type":"constitutional_article","number":95,"label":"Article 95","title":"Transitional Appointment of the National Bank Chair","href":"/full-text?lang=en#article-95"}],"source_records":[{"id":"constitution-2026-official","type":"constitution","url":"https://adilet.zan.kz/rus/docs/K2600000000","title":"Official publication of the 2026 Constitution of the Republic of Kazakhstan","publisher":"Adilet Legal Information System","checked_at":"2026-07-16","reviewed_at":"2026-07-16","checked_at_label":"16 July 2026"},{"id":"national-bank-official-info","type":"regulator_guidance","url":"https://nationalbank.kz/ru/page/informaciya-o-nbk","title":"Information about the National Bank of Kazakhstan","publisher":"National Bank of Kazakhstan","checked_at":"2026-07-16","reviewed_at":"2026-07-16","checked_at_label":"16 July 2026"}],"verified_claims":[{"id":"national-bank-chair-appointment","statement":"The Chair of the National Bank is appointed and dismissed by the President; Kurultai consent is not required for this appointment.","status":"clarified","valid_from":"2026-07-01","article_refs":["46.5"],"source_ids":["constitution-2026-official"]},{"id":"national-bank-price-stability","statement":"The National Bank affects price stability through monetary policy and inflation expectations, not by directly setting retail prices.","status":"clarified","valid_from":"2026-07-01","article_refs":[],"source_ids":["national-bank-official-info"]}],"implementation_status":null,"source_schema_records":[{"@type":"CreativeWork","name":"Official publication of the 2026 Constitution of the Republic of Kazakhstan","url":"https://adilet.zan.kz/rus/docs/K2600000000","publisher":{"@type":"Organization","name":"Adilet Legal Information System"},"dateModified":"2026-07-16"},{"@type":"CreativeWork","name":"Information about the National Bank of Kazakhstan","url":"https://nationalbank.kz/ru/page/informaciya-o-nbk","publisher":{"@type":"Organization","name":"National Bank of Kazakhstan"},"dateModified":"2026-07-16"}],"source_citation_urls":["https://adilet.zan.kz/rus/docs/K2600000000","https://nationalbank.kz/ru/page/informaciya-o-nbk"]}