The National Bank revoked license of Qazaq Banki to conduct banking and other transactions and carry out activities in the securities market

28.08.18, 15:29
/KASE, August 28, 2018/ – The National Bank of the Republic of Kazakhstan (National Bank) published on August 28, 2018 on its website a press release with the following content: quote In accordance with Resolution of Board of the National Bank of the Republic of Kazakhstan No. 171 dated August 27, 2018, it was decided to deprive Qazaq Banki (hereinafter - the Bank) of the license to conduct banking and other transactions and activities on the securities market issued to the Bank by the National Bank of the Republic of Kazakhstan July 27, 2018 No. 1.2.204 / 37, on the grounds provided for in subparagraphs c) and d) of paragraph 1 of Article 48 of the Law of the Republic of Kazakhstan "On Banks and Banking Activities in the Republic of Kazakhstan", for a systematic (three or more times within twelve months (three or more times during the twelve consecutive calendar months) violation of prudential standards and (or) other mandatory norms and limits, from August 28, 2018. Due to the low proportion of the Bank's assets and liabilities in the total assets and liabilities of the banking sector (0.8%), the Bank's deprivation of the license does not carry risks to other financial institutions. By order of the Chairman of the National Bank of the Republic of Kazakhstan No. 326 of August 27, 2018, an interim administration was appointed, to which the powers of all management bodies of the Bank were transferred. The interim administration will act until the liquidation commission is appointed by the court. Since August 28, 2018, all operations on bank accounts of customers and the Bank itself have been terminated, except for cases related to expenses provided for by regulatory legal acts of the authorized body, by transfer of money to the Bank. The National Bank of the Republic of Kazakhstan, in accordance with the procedure established by the legislation, will apply to the court with a request for compulsory termination of the activities (liquidation) of the Bank. From the date the court institutes proceedings for the compulsory liquidation of the Bank, the claims of creditors to the Bank can be presented only in the liquidation proceedings, with the exception of the requirements related to the current expenses for the maintenance of the Bank. The bank is a participant of the mandatory deposit insurance system for individuals, therefore, the depositors will be paid a guarantee refund in due course. On all issues of interest, you can also contact the head of the temporary administration of Qazaq Banki Ottsova Anfisa Leonidovna by phone +7 (727) 380-39-51, +7 (727) 380-39-39. unquote [2018-08-28]