Development Bank of Kazakhstan concludes memorandum on mutual cooperation with Bagalau Qazaqstan Chamber of Appraisers

27.09.19 16:58
/KASE, September 27, 2019/ – Development Bank of Kazakhstan (Nur-Sultan), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release of September 27, 2019: quote Within the framework of the signed agreement, representatives of Development Bank of Kazakhstan JSC (DBK, the subsidiary of Baiterek Holding) and Bagalau Qazaqstan Central Association of Appraisers of Kazakhstan intend to cooperate in several key areas at once. First and foremost, it is the exchange of experience and knowledge in the relevant fields of activity, as well as the provision of information, methodological and expert-technical mutual assistance. The technological complexity, the diversity of investment areas and the scale of projects financed by DBK require the involvement of an independent, professional expert opinion during their evaluation. In particular, the external evaluation of projects is necessary at the third stage of analysis which is bank expert examination. Given the entry into force of the new Law on Valuation Activities, and, as a consequence, the transition of valuation activities to self-regulation, the signing of this memorandum is more relevant than ever. Today, being a kind of regulator of the appraisers' activities, Bagalau Qazaqstan Chamber of Appraisers acts as a guarantor of high standards of services provided by members of the Chamber to borrowers of the Bank. unquote More details are available on KASE website – http://kase.kz/files/emitters/BRKZ/brkz_reliz_270919_1.pdf [2019-09-27]