ALLIANCE BANK JSC is a first member of system on securing mortgage loans
17.05.04 21:24
/IRBIS, Ranida Gabdeyeva, May 17, 04/ - ALLIANCE BANK JSC (Almaty), whose
securities are traded in "A" official category of Kazakhstan Stock Exchange,
released an announcement today according to which ALLIANCE BANK JSC
became a first member of a system on securing mortgage loans.
A corresponding agreement was signed on May 14, 2004 by leaders of
ALLIANCE BANK JSC and Kazakhstan fund on securing mortgage loans JSC.
According to the announcement, membership gives ALLIANCE BANK JSC a lot
of advantages. The Bank can rely on Funds guarantees while being able to
spread risks and reduce losses when defaults occur.
Chairmen of both organizations, Alimzhanov and Yertayev concluded that
creation of a system on securing mortgage loans had to contribute to making
purchase of apartments more affordable for a general population.
[2004-05-17]