Mortgage bonds to appear in Kazakhstan's stock market

/IRBIS, May 02, 01/ - According to GSRW, a new financial instrument - mortgage bonds - will appear in Kazakhstan's securities market in May this year. According to the National Committee on Securities they will be of two types: issued by individual issuers and by collective ones. Bonds by individual issuer - Lariba bank which has worked on this project for two years within the USAID program - will be first to enter the market. The first collective issuer is the Kazakhstan Mortgage Company, a special subsidiary of the Kazakhstan National Bank. IRBIS comments: IBRIS disposes information concerning mortgage bonds. Mortgage bonds of "Join bank LARIBA-BANK" OJSC (Almaty) could appear on Kazakhstan Stock Exchange only in late May. Most likely, they will start circulate on the market in June. IRBIS agency is more cautious concerning information on the second type of mortgage bonds. Kazakhstan investors might not see them even in June.