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]