Senate has accepted corrections to the law "About development bank of Kazakhstan"

/Kazakhstan today, May 26, 03/ - Today, on May 26 during plenary session of the senate deputies passed the law about including of changes and additions into the law od RK "About development bank of Kazakhstan", a correspondent of KZ- today informs from Astana. "Purpose of the law - improvement of practical activity of the Development bank as a big participant of the financial market, which can provide for borrowing of significant volumes of credit resources to the country's economy", - chairman of the committee on economy, finance and budget of the senate Musiraly Utebayev noted in his speech. As was informed before, the main purpose of the changes is giving the Bank the rights for conducting of operations concerning participation in authorized capital of juridical entities. "The Bank as a big participant of financial market needs to participate in controlling juridical entities, which are founded by professional participants of financial market (stock exchange, depositary and so on)", - says the explanatory message for the bill, which has been signed by the head of Kazakhstan government. It's also noted in the message that "The Bank has to found daughter companies, whose activity will correspond with its main tasks". At present the Bank's authorized capital is KZT30 bn. The law has been given for signing to the head of the state. [2003-05-26]