Three national companies of Kazakhstan are going to issue the bills
/IRBIS, Jan.17, 00/ - According to REUTERS, which cites an representative
of the National Bank, first three national companies - Kazahoil,
Kazatomprom, and Kazahtelekom can issue the bills in February of the
The National Bank of Kazakhstan in November of the last year has ratified
the bills circulation rules.
As Grigory Marchenko, the chairman of the National Bank has informed at
the last week's press-conference, the project is constrained by the absence
of the financial-economic information from the part of emitters.
In Marchenko's opinion, volume of the first issues will not exceed one billion
tenge, circulation term will make no more than three months.
According to the National Bank's representative, the system of emitters class
rate valuation is already developed, and the bills of the first class drawers
will be permitted to rediscount.
The National Bank plans to introduce the bills inventory rate, which will lower
than the rate of refunding and will change in connection with the financial
market business conditions.
The National Bank plans to publish the list of the emitters, which bills will
be accepted to rediscount.
The National Bank does not limit a number of banks admitted to the bill
discounting. Such bank should execute the National Bank prudential
specifications and have a stable position.