Kazakh residents open about 22,000 educational deposits

Kazakh residents have opened about 22,000 deposits for the future education of their children. The data on the state educational accumulative system AQYL was announced by Chairman of the Board of the Financial Center of the Ministry of Education and Science Askar Ibraimov. According to him, there are deposits totaling almost 31 billion tenge. Any citizen of the country can open deposits in his own name or in the name of a child. At the same time, parents, in addition to bank remuneration from 5 to 7 percent, will also receive a state bonus. The accumulated funds, in turn, should be used exclusively for tuition fees, in particular, both in our country and in foreign universities.

“At the same time, it is necessary to pay attention to the fact that if a child enters a university independently on a grant, then the entire amount of funds with all rewards and bonuses remains in the property of a depositor, and he will be able to arrange them up to the cash withdrawal. Deposits are insured by the Kazakhstan Guarantee Fund, and are protected by law against seizure and restrictions by both government agencies and third parties,” opined Askar Ibraimov, Chairperson of Financial Center, Kazakh Ministry of Education and Science.

 

Translation by Ademi Serikbay

Editing by Saule Mukhamejanova