Almaty, 21 October. Bank RBK has started lending to real-economy businesses in digital tenge: the first loans were issued under the Damu fund's Orleu programme, and one entrepreneur used the money to buy a production base in Karaganda, the bank's press service said.
The bank has already issued several such loans. Money in digital tenge is earmarked: it can be spent only on the purpose for which the loan was issued, and this is visible at every stage of payment.
The digital tenge is the third form of the national currency alongside cash and non-cash money: it is issued by the National Bank, and each unit exists as a record on a secure platform. For state programmes this is convenient because the money cannot be diverted to other purposes: its path from the fund to the seller is tracked.
What it means: The digital tenge is turning from an experiment into a working tool: businesses are already being lent money in it under a state programme.
Who benefits: The state gains by seeing where subsidised money goes, as do entrepreneurs receiving financing under the Damu programme; the bank gains experience with a new form of money.
Background: The Damu fund's Orleu programme supports real-sector businesses with subsidised loans.
List of sources used: BES.media
Artificial intelligence was used in preparing this material.
