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Kazakhstan Officially Recognizes Digital Tenge as Third Form of National Currency
17 Jun. 08:09Kazakhstan has officially established the regulatory and legal framework for the digital tenge, formally recognizing it as the country's third distinct form of national currency alongside physical cash and electronic non-cash funds. The milestone was announced by the Vice Minister of Finance, Asset Turysov, during a press briefing focused on the digitalization of public finances.
According to the Vice Minister, the Ministry of Finance, in coordination with the National Bank of Kazakhstan, successfully executed approximately 20 pilot projects utilizing the digital currency over the past year. The positive outcomes derived from these trials enabled the government and the central bank to ratify a definitive roadmap for the progressive integration of the digital asset. The Head of State also emphasized the strategic national importance of the legislative endorsement.
The operational deployment of the digital tenge is structured to expand in phases. Initially, the currency will be utilized within specialized projects managed by state budget organizers as well as key government-backed initiatives. Previously, Prime Minister Olzhas Bektenov directed that at least 100 major infrastructure projects funded by the republican budget and the National Fund be transitioned to digital tenge settlements, a move aimed at enhancing transaction transparency and tightening financial oversight.
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Facing a record drop in fertility rates, Singapore is significantly expanding its family support framework. According to Bloomberg, Prime Minister Lawrence Wong announced increases in direct financial assistance alongside enhanced housing benefits for young families.
Under the updated policy, every Singaporean child up to the age of 17 will be eligible to receive up to 70,000 Singapore dollars (approximately $55,000 USD) in total support, which includes cash payouts, educational grants, and related benefits. The government is also expanding paid parental leave and capping monthly out-of-pocket costs for government-subsidized childcare at 150 Singapore dollars.
These interventions aim to reverse a severe demographic decline, marked by last year's fertility rate drop to 0.87 children per woman, while over 20% of the country's population is currently aged 65 or older.