AsiaCredit Bank (Kazakhstan) says it received notice of possible sanctions against bank

/KASE, January 31, 13/ - JSC "AsiaCredit Bank" (Almaty), whose bonds are officially listed at Kazakhstan Stock Exchange (KASE), has by an official letter informed KASE of the following: quote "AsiaCredit Bank" informs of Written warning # 663/209/170 dated January 14, 2013 it received from the Committee on Regulation and Supervision of Financial Market and Financial Organizations of the National Bank of the Republic of Kazakhstan (hereinafter - the Agency) (received on January 16, 2013, incoming No. # 188) of a possibility of applying sanctions against the bank stipulated by article 46 of the Act of the Republic of Kazakhstan "On banks and banking operations in the Republic of Kazakhstan" and chapter 4 of "the Rules of applying limited sanctions against second-tier banks, organizations carrying out particular banking transactions, as well as major stakeholders in a bank, bank holding and their affiliated persons, legal persons involved in a bank conglomerate, and compulsory measures against persons as well as major stakeholders in a bank, bank holdings or legal persons involved in a bank conglomerate", approved by resolution # 42 of the Agency dated May 25, 2006 in case of detecting violations similar to those detected at non-fulfillment by the Bank of requirements of Appendix 1 "Requirements for Arranging a Risk management System" to Instruction on Requirements for Availability of Internal Control Risk Management Systems in Second-tier Banks, approved by resolution # 359 of the Agency's Management dated September 30, 2005 in part of execution by the Management Board of "regular monitoring of the bank's compliance with contractual relations, statutory acts of the authorized body, requirements of the legislation of the Republic of Kazakhstan, internal policies for conducting of banking transactions". unquote [2013-01-31]