Glossary

Special mid-term Treasury bills (MAOKAM)

(Kazakhstan). Special mid-term Treasury bills are coupon-bearing securities. Their face value is a KZT equivalent of USD10. In the Kazakh language, a special mid-term T-bill is called ‘Мемлекеттік арнайы орта мерзімді қазынашылық міндеттеме’ (МАОКАМ). Special mid-term Treasury bills have 2-year and 3-year tenors. They are placed among individuals that are residents of Kazakhstan via an agent. They pay a return semiannually. The return is paid to holders of special mid-term Treasury bills within two business days from the payment date in KZT at the official KZT-USD exchange rate set by the National Bank of the Republic of Kazakhstan on the return payment date. The calculation base for coupon calculation for special mid-term T-bills is 30 days in the assessment month/ 360 days in the assessment year. E.g. Kazakhstan, МАОКАМ-36, 01
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