The National Bank revoked license of Qazaq Banki to conduct banking and other transactions and carry out activities in the securities market
28.08.18 15:29
/KASE, August 28, 2018/ – The National Bank of the Republic of Kazakhstan (National Bank)
published on August 28, 2018 on its website a press release with the following content:
quote
In accordance with Resolution of Board of the National Bank of the Republic of
Kazakhstan No. 171 dated August 27, 2018, it was decided to deprive Qazaq
Banki (hereinafter - the Bank) of the license to conduct banking and other
transactions and activities on the securities market issued to the Bank by the
National Bank of the Republic of Kazakhstan July 27, 2018 No. 1.2.204 / 37, on
the grounds provided for in subparagraphs c) and d) of paragraph 1 of Article 48
of the Law of the Republic of Kazakhstan "On Banks and Banking Activities in the
Republic of Kazakhstan", for a systematic (three or more times within twelve
months (three or more times during the twelve consecutive calendar months)
violation of prudential standards and (or) other mandatory norms and limits,
from August 28, 2018.
Due to the low proportion of the Bank's assets and liabilities in the total
assets and liabilities of the banking sector (0.8%), the Bank's deprivation of
the license does not carry risks to other financial institutions.
By order of the Chairman of the National Bank of the Republic of Kazakhstan No.
326 of August 27, 2018, an interim administration was appointed, to which the
powers of all management bodies of the Bank were transferred. The interim
administration will act until the liquidation commission is appointed by the
court.
Since August 28, 2018, all operations on bank accounts of customers and the
Bank itself have been terminated, except for cases related to expenses provided
for by regulatory legal acts of the authorized body, by transfer of money to the
Bank.
The National Bank of the Republic of Kazakhstan, in accordance with the
procedure established by the legislation, will apply to the court with a request
for compulsory termination of the activities (liquidation) of the Bank.
From the date the court institutes proceedings for the compulsory liquidation of
the Bank, the claims of creditors to the Bank can be presented only in the
liquidation proceedings, with the exception of the requirements related to the
current expenses for the maintenance of the Bank.
The bank is a participant of the mandatory deposit insurance system for
individuals, therefore, the depositors will be paid a guarantee refund in due
course.
On all issues of interest, you can also contact the head of the temporary administration
of Qazaq Banki Ottsova Anfisa Leonidovna by phone +7 (727) 380-39-51, +7 (727) 380-39-39.
unquote
[2018-08-28]