Issues of implementation of the project ‘Karyzsyz qogam’ to improve financial literacy of citizens were discussed at the meeting in the Government under the chairmanship of Deputy Prime Minister - Minister of National Economy Nurlan Baibazarov.

This project was launched in May last year in 8 regions of Kazakhstan. It provides qualified financial and legal assistance, improving financial literacy of citizens, assistance in the settlement of bad debts on bank loans and microcredits.  

Head of State Kassym-Jomart Tokayev in his Address ‘Economic Course of Fair Kazakhstan’ instructed to expand the scope of the project. Now it is being implemented in all regions of the country, as well as in Astana, Almaty and Shymkent. Eleven government agencies, 12 banks, the Association of Financiers of Kazakhstan and the Association of Microfinance Organisations of Kazakhstan have joined the work. 

According to Eldar Zhumagaziyev, Secretary of the AMANAT Party, since the beginning of this year, more than 43,000 people have been trained, 81 per cent of whom are residents of villages and rural districts. In addition to lectures from experts, project participants receive counselling on a wide range of issues, from registering on the enbek.kz portal and opening a sole proprietorship to supporting out-of-court bankruptcy and drawing up debt repayment schedules. 

"We strive to reduce the share of problem loans among Kazakhstanis and prevent the population from becoming highly indebted. This is the most important social issue and the party cannot stay on the sidelines. Now we are fighting the consequences and therefore we consider it necessary to provide financial literacy training in schools, colleges and universities. Thus, we will be able to significantly increase the level of financial culture in society," Eldar Zhumagaziyev emphasised in his speech.

First Deputy Chairman of the Agency for Regulation and Development of Financial Market Nurlan Abdrakhmanov drew attention of state bodies and akimats to the need to strengthen information work on the ground to involve more citizens in ‘Karyzsyz qogam’.

In turn, the head of the project Akmaral Bekmurzaeva outlined the importance of developing methodology and educational and practical materials on financial literacy, taking into account international experience and best practices. 

"We conducted a survey among 513 thousand people - these are teachers, students and parents. There is no common understanding of the organisation and form of financial literacy education among the participants of the educational process. 80% of teachers say about the lack of textbooks and literature for teaching. 60% of students are interested in the subject, but do not like the format and presentation of materials," Akmaral Bekmurzaeva said. 

Zhomart Karambayev, deputy chairman of the Education Ministry's Secondary Education Committee, said teachers are taking advanced training courses so they can teach financial literacy as well. 

According to Deputy Minister of Science and Higher Education Dinara Shcheglova, Narxoz University has developed a course called ‘Karzhylyk Sahuattylyk’, which will be taught in all higher education institutions starting this year. The annual coverage will be about 100 thousand students, mainly first-year students.

Summarising the results of the meeting, Deputy Prime Minister - Minister of National Economy Nurlan Baibazarov emphasised the importance of explanatory work among the population about the project ‘Karyzsyz qogam’.

"Everyone understands the usefulness of the project. Its qualitative realisation is a common task of central and local state bodies. All responsible departments should be actively involved in the development of training manuals and popularisation of the project. It is also necessary to expand support tools to involve residents of villages, small towns and single-industry towns in entrepreneurial activities. We have the necessary resources for this," he said.

Nurlan Baibazarov instructed to strengthen the work on informing the population about the implementation of the project, to ensure maximum enrolment of participants and to organise a proper quality of training course on financial literacy for schoolchildren and students.

#Education #Finance #Nurlan Baibazarov