Kazinvestbank as of February 3, 2017 stripped of KASE membership by currency and stock market categories

/KASE, February 3, 2017/ – Following a decision of Kazakhstan Stock Exchange (KASE) Board of Directors as of February 3, 2017 Kazinvestbank (Almaty) was stripped of its KASE membership in categories "currency market" and "stock market". This means that Kazinvestbank is no longer a member of KASE and doesn't have the right to trade on KASE in any instruments. This decision was taken in accordance with sub-items 3) and 4) of item 1 of article 12 of KASE internal document "Regulations on Membership" due to the fact that Kazinvestbank as of December 27, 2017 in accordance with resolution No. 291 of Management Board of the National Bank of Republic of Kazakhstan dated December 26, 2016 was withdrawn its banking and stock market license 221 issued by the Agency of the Republic of Kazakhstan for Regulation and Supervision of Financial Market and Financial Organizations on March 21, 2008, for reasons provided for in sub-item c) of item 1 of article 48 of the Act of Republic of Kazakhstan "On Bank and Banking Activities in the Republic of Kazakhstan", for systematic (three or more times within 12 consecutive calendar months) undue execution of contractual obligations on payment and transfer transactions. [2017-02-03]