Kazakh bank boss cuts beard as deposits top $1 bln

KAZAKHSTAN - Kazakh central bank boss Grigory Marchenko shaved off his beard on Wednesday, 5 September, - fulfilling a vow to sacrifice his whiskers once private deposits in Kazakh banks topped $1 billion, Reuters reports from Almaty.

Private savings in Kazakh banks had reached $1.116 billion by the end of August after a major state campaign to encourage people to save in the fledgling banking system.

The new-look Marchenko, 41, said he intended to recover his venerable image as one of the fathers

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Geoeconomic reserve management

The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.

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