September 30 is the end of contracts' effectiveness concluded between finance ministry's primary dealers and finance ministry
03.08.01 00:00
/IRBIS, Aug 03, 01/ Information source of finance ministry provided IRBIS with
information that Sept 30 is the expiry date for contracts which were concluded
between legal entities and finance ministry to enable primary dealers service
transactions with GS issued by finance ministry (MEKAM and NSO). Due to this
present primary dealers have to review previous agreements and till Sept. 30
notify finance ministry about contracts prolongation or termination.
Potential primary dealers (companies willing to be granted this status) also
have to notify finance ministry about contract conclusion, till Sept 30.
The institute of Finance ministry for Primary dealers exists in Kazakhstan
since issue of Finance ministry first GS - state treasure bills in Apr of 1994.
Since that time all GS transactions at primary and secondary markets have been
holding by investors through primary dealers or under their indispensable
notification (in case of GS deals making at KASE)
According to finance ministry information now there are 12 primary dealers
operating at Kazakhstani stock exchange: KAZKOMMERTSBANK OJSC, Halik Bank of
Kazakhstan OJSC, ABN AMRO Bank Kazakhstan SB CJSC, Temirbank OJSC, Bank
CentreCredit OJSC, TexaKaBank OJSC, MB OJSC, Bank TuranAlem OJSC, CITYBANK
Kazakhstan CJSC, CASPIAN Bank OJSC, Euroasian Bank CJSC, HSBC Bank Kazakhstan
SB CJSC. Also National Bank of Kazakhstan which is financial agent for Finance
ministry to service GS transactions can operate as primary dealer.