AFS informed on activity of Working Group on monitoring the use of funds of the National Fund of Kazakhstan, available for the Joint Action Plan of the Government, National Bank and AFS to stabilize the economy and financial system for 2009-2010

/IRBIS, March 3, 09/ - Agency of Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations (AFS) released at its official website the information message: Quotation start February 26, 2009 a regular meeting of the Working Group to monitor the use of the National Fund of Kazakhstan, available for Joint Action Plan of the Government, the National Bank and the Agency on Regulation and Supervision of Financial Market and Financial Organizations on stabilizing the economy and financial system for 2009-2010 (hereinafter - Working Group) was held at the residence of the President of the Republic of Kazakhstan Akorda. The members of the Working Group as well as the Deputy of Majilis of Parliament of the Republic of Kazakhstan - the head of the party commission NDP Nur Otan to monitor the process of distribution and use of State support, which is targeted for stabilization of the economy and financial system of G. Karagusov country participated in the Working Group meeting. The leaders of NWF Samruk-Kazyna JSC and NA KazAgro JSC were invited at the meeting. Managing Director of NWF Samruk-Kazyna JSC K. Aytekenov and the Chairman of the Board of NA KazAgro JSC A. Mamytbekov informed the Working Group on the use of money allocated from the National Fund of the Republic of Kazakhstan in the framework of a Joint Action Plan to stabilize the economy and financial system. Currently, the funds, provided by the Plan are transferred to second-tier banks. In particular, according to information provided by NWF SamrukKazyna JSC, from the National Fund of the Republic of Kazakhstan to the special account of NWF SamrukKazyna JSC within the framework of the Plan as on February 27, 09, KZT1,087.5 bn. has been allocated. Of which, according to the NWF SamrukKazyna JSC, were addressed to: KZT bn. ------------------------------------- I Stabilize financial sector ------------------------------------- 1 BTA Bank JSC 212 2 Halyk Bank of Kazakhstan JSC 60 3 Kazkommertsbank JSC 36 4 Alliance Bank JSC 24 Total 332 --- ---------------------------- ---- II Housing development ------------------------------------- 1 BTA Bank JSC 40 2 Halyk Bank of Kazakhstan JSC 24 3 Kazkommertsbank JSC 24 4 Alliance Bank JSC 14 5 Bank CenterCredit JSC 3 6 Eurasian Bank JSC 3 7 Kaspi Bank JSC 3 8 Temirbank JSC 3 9 Tsesnabank JSC 3 10 ATFBank JSC 3 Total 120 --- ---------------------------- ---- III Support for small and medium business ------------------------------------- 1 BTA Bank JSC 22 2 Halyk Bank of Kazakhstan JSC 11.7 3 Kazkommertsbank JSC 16 4 Alliance Bank JSC 18 5 Bank CenterCredit JSC 10 6 Eurasian Bank JSC 3 7 Kaspi Bank JSC 6 8 ATFBank JSC 10 9 Tsesnabank JSC 3,3 10 Nurbank JSC 8 11 SB Sberbank of Russia JSC 6 12 Astana-finance Bank JSC 3 Fund DAMU 3 Total 120 ------------------------------------- In addition, NWF SamrukKazyna JSC allocated KZT144 bn. for crediting the real economy sector to 2 banks (Halyk Bank of Kazakhstan JSC and Kazkommertsbank JSC) within the framework of the signed additional agreements. According to the NA KazAgro JSC, KZT120 bn. of the National Fund of the Republic of Kazakhstan was allocated to the NA KazAgro JSC account to support agro-industrial sector, of which, as on February 27, 09, NC Food Contract Corporation JSC allocated KZT592 m. At the same time, NWF Samruk-Kazyna JSC and NA KazAgro JSC reported that in order to enforce the trust and efficient use of resources, allocated from the National Fund of the Republic of Kazakhstan, they developed relevant criteria. These criteria have been preliminary agreed with the Ministry of Finance of the Republic of Kazakhstan. The Ministry of Finance of the Republic of Kazakhstan provided to the Working Group information on the establishment of specialized committees, attached to the Boards of directors of national holding company, responsible for implementation of internal control over target and effective use of monetary funds. By results of the meeting of the Working Group, it was decided to invite the heads of second-tier banks for the following meeting of in order to hear the information about the actual development of monetary funds, allocated from the National Fund of Kazakhstan. Reference January 19, 2009 in accordance with the Instruction of the Head of the State Working Group to monitor the use of the National Fund of the Republic of Kazakhstan, available for the Joint Action Plan of the Government, the National Bank and the Agency of Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations to stabilize the economy and financial system for 2009-2010 was established. The composition of the Working Group includes the heads of Prosecutor General's Office of Republic of Kazakhstan, the National Security Committee, the Agency of RK on struggle with corruption and Economic Crimes (Financial Police), the Committee for Financial Monitoring of the Ministry of Finance, assistant of the President of Kazakhstan. The Working Group is headed by the Chairman of the Agency of Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations E. Bakhmutova. The main objective of the Working Group is monitoring and controlling over target, legal and effective use of funds from the National Fund of Kazakhstan in the framework of a Joint Action Plan. Quotation end [2009-03-03]