AMB OJSC (Kazakhstan): History, correspondent relations

/IRBIS, June 12, 00/ - Below is general information of Almaty Merchant Bank open joint-stock company (AMB OJSC). It compiled using reports of the Kazakhstan Stock Exchange (KASE) Listing Commission. Information is published in connection with admission of the bank's sixth issue shares (KZ1P35970618) into official list of KASE securities, category "A" (trade code ATFBp), as well as due to the auction for public offering of its shares. AMB OJSC is a private bank engaged in development of full-range banking services in Kazakhstan. It specializes in servicing of large corporate as well as medium and small-scale companies. The bank was founded in June 1995. In Nov 95 bank received the general license from the National bank of Kazakhstan (NBK) on operations in forex, in Oct 96 it joined SWIFT, in Nov it started servicing of Visa, EuroCard/MasterCard, Diners Club, JCB, American Express. In May 1997 AMB CJSC was included by NBK into the first group of banks to be transited to International Accounting Standards. In Nov 1998, it started commercial selling of gold bullion with own stamp and weight of 10 and 20 grams. In Dec 1998, Inter government agreement between Deutsche Republic and Kazakhstan the bank was approved as a financial operator for German credit line (KFW). In March 1999, bank started issuing VISA-Classic, VISA- Gold and VISA Business with its own logotype. In Dec 1999, the list included Visa-Electron and domestic Altyn. Since Sep 1999 bank jointly with Western Union has implemented new services on money current transfers without opening of bank accounts. This service targeted individuals and covered 170 countries of the world. In April 2001 the bank was reorganized into open joint-stock company. To conduct custodian services with international securities, AMB CJSC opened accounts in Deutsche Bank AG Frankfurt, Deutsche Bank AG London, Bank Societe Generale. Being the co-founder of Kyrgyz Central Depository of Securities bank renders custodian services on securities market of this country. International payments are made using SWIFT Alliance Entry banking software. Presently bank cooperating with 160 banks of the world including: USA, Germany, Switzerland, the Netherlands, France, Great Britain, Denmark, Canada, Singapore, CIS countries and Baltic states. In turn about 80 banks of Russia, Kyrgyzstan, Latvia, Azerbaijan and Lithuania opened their correspondent accounts in AMB OJSC.