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How to win on tenge devaluation

People in Kazakhstan believe that they only lose due to the national currency devaluation, as weak Tenge is a price increase for all imported goods. Devaluation, however, has also a reverse side. This material will talk about how you can earn when everyone loses.
How to win on tenge devaluation

Amid instability in the financial markets, the tenge exchange rate has decreased by about 17% from March 9 to April 1. “According to our baseline scenario, the exchange rate will be about 435 tenge per US dollar by the end of 2020, although the national currency volatility may persist for a year. Tenge exchange rate devaluation is likely to have a negative impact on the banking sector,” the new S&P Global Ratings report says.

Such news is troubling and more and more people are trying to find a safe haven for their investments. The editors of the portal studied the ZOLOTO NOMADOV product. How much would the person earn if he opened a contribution from the launch date?


The dollar rate of the cumulative insurance product ZOLOTO NOMADOV reaches 3.41%, depending on the insurance period. This rate is fixed for the entire contract duration. “No changes in the financial market will affect the profitability guaranteed by the insurance policy. You conclude an agreement, and the LIC performs it. These dollar savings are not taxed, and the interest and reliability of such investments are much higher than in bank,” explains Madi Shalgimbayev, the Deputy Board Chairman of JSC LIC Nomad Life.

Second-tier banks offer their depositors foreign currency deposits with a maximum yield of 1% per annum today.

“The rate of return of our product is fixed for the entire contract term; the longer the term, the higher the yield on the deposit. Unlike the banks, we do not issue loans to third parties, i.e. we do not expose our customers’ funds to high credit risk. Instead, the company invests in long-term highly reliable assets,” said Madi Shalgimbayev.

The crisis that erupted due to coronavirus and collapse in oil prices will affect, first of all, banks, as they lend at the expense of investors.

“Having received insurance premiums from customers, life insurance companies form insurance reserves that are invested in the stock market. The work of LICs is associated with long-term obligations, therefore the reliability of the insurer is a key factor for customers when choosing a financial institution,” says Madi Shalgimbayev.

ZOLOTO NOMADOV guarantees its owners a stable and high income, as the product is diversified. Foreign currency fund are invested exclusively in bonds of the US corporate sector, Eurobonds of local and foreign issuers, i.e. denominated in US dollars.

“In a situation when many clients have suffered from tenge devaluation, we guarantee high profitability and give people a sense of security. In addition to investments, the client gets life insurance coverage valid 24/7 around the world, and it starts working the very next day after the policy is issued,” said the Deputy Board Chairman of JSC LIC Nomad Life.

Particular case

Maria Pavlova is a manager of a large company; her salary is 500 thousand tenge. After the successful project completion in March 2018, she received a two-salary bonus. “I usually spend money on self-education or vacation, but in this case, following my boss example I bought the ZOLOTO NOMADOV policy. I invested $3,000 for 10 years. It amounted to 960 thousand tenge at that moment. Now my life is insured for 4,133 dollars. I will receive this amount at the end of the contract. The tenge amount at the present exchange rate is 1.8 million tenge,” the source said.

The ZOLOTO NOMADOV product allows the withdrawal of savings. “I will not use this option, as Nomad Life makes it possible to get a loan in tenge and on very favorable terms secured by my policy. I will use the loan option if needed,” says the interviewee.


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