AFS has allowed Russian Vneshtorgbank to open subsidiary bank in Kazakhstan

/INTERFAX-KAZAKHSTAN, Borovoe, August 29, 08/ - Russian Vneshtorgbank (VTB) get permission of Kazakhstan agency (AFS) on opening subsidiary bank in republic, Kuat Kozhahmetov, deputy chairman of AFS informed. Vneshtorgbank has already got permission of AFS on opening the bank" - he said during the third Central-Asian festival Business Weekend-2008 on Friday in Borovoe (Akmola obl.). According to him, today the bank is preparing gall the necessary documents for the license. Besides, K. Kozhahmetov said that Raiffeisen is in "the process of getting permission for opening its bank". In the whole, he stressed that "tendency is in the process and there is an interest in foreign banks entering Kazakhstan market". Along with this, he also informed on the interest of Islamic banks to work in the republic. As informed, VTB opened representative office in Almaty in February current year. [2008-09-02]