Bank TuranAlem JSC (Kazakhstan) informed about receiving of deposit from fund for stable development Kazyna JSC in size of KZT9.8 bn.
24.12.07 15:07
/KASE, December 24, 07/ - Bank TuranAlem JSC (Almaty), securities of
which are traded in Kazakhstan stock exchange's (KASE) category "A"
official list, had spread today the press-release in which is informed that
bank received the deposit in size of KZT9.8 bn. (about $81.0 m.) according
to agreement with Fund for stable development Kazyna JSC (further - FSD
Kazyna).
According to the message deposit was placed in the frames of agreement,
signed on December 6, 2007 between Ministry of finance of Kazakhstan,
akimat of Astana and FSD Kazyna, Kazakhstan Mortgage Company JSC
and second tier banks. The given document is aimed on coordination in the
frames of realization of plan of primary activities for provision of stability of
social-economical development of Kazakhstan.
"Funds, given to bank TuranAlem, were placed for 3 years and have to be
used exclusively for finishing of construction objects, approved by
corresponding state committee. By its turn FSD Kazyna have the right to
claim information from BTA about mastering and purposeful using of funds,
Moreover, it is necessary to observe conditions, with which bank, which had
received the funds and construction companies will together finance not less
than 15% from cost of project. So, FSD Kazyna finances 85% of project,
STB - 10%, construction company - 5%", - is specified in the message.
By information of the bank, in accordance with agreement between Bank
TuranAlem JSC and fund fro development of small business JSC bank will
receive KZT12.2 bn. (about $100.0 m.) for participation in the program for
support of small and middle enterprisers.
[2007-12-24]