Development Bank of Kazakhstan JSC will buy and sell foreign currency at KASE in advance payment and supply mode

/KASE, August 5, 04/ - By the decision of Kazakhstan stock exchange's (KASE) Board dated August 5 of 2004 Development Bank of Kazakhstan JSC (Astana) has been transferred to the mode of advance payment and supply of foreign currency bought and sold at KASE since August 5 till November 4 of 2004. This decision was made because Development Bank of Kazakhstan JSC did not fulfill obligations concerning supply of foreign currency, which it sold at the trades on August 4 of 2004 in the amount of USD1,375,000, in compliance with paragraph 36 of the Rules of making settlements following results of trades in foreign currencies. In accordance with the mentioned paragraph of the Rules trade participant, which has not fulfilled his net-obligations, by the decision of KASE's Board, for up to three months is transferred to the mode of advance supply of the sold and advance payment of purchased foreign currency. After making of the mentioned decision the question about the mode of making payments by this participant for in return for his net-obligations is brought for examination of KASE's Council, which has the right to cancel the mentioned decision, and also reduce of prolong the term, within which the participant must make payments in return for his net- obligations in the mode of advance supply of the sold and advance payment of purchased foreign currency. [2004-08-05]