Kazkommertsbank JSC became the first bank in Kazakhstan, registered with compliance certificate to Oracle licensed policy

/KASE, October 10, 05/ - The bank demonstrated adherence to directions of the Agency of RK for regulation and supervision of financial market and financial organizations for observance of licensing rules. As Oracle's regional manager in Central Asia Bakhytbek Aliyev noted, "Stable growth of economy of the Republic of Kazakhstan is connected with rapid development of its banking sector, which is considered to be progressive in CIS countries. With general compliance of the country's banking sector to international standards, very actual stays the question of commercial banks' licensing. Actuality for building modern system of intellectual property rights protection rises more in connection with intention of the Republic of Kazakhstan to join VTO, requiring efficient protection of all objects of intellectual property. Intellectual property in any country is integral part of national infrastructure, because is one of investments' forms in fictitious assets. That is why at present time specially grows role of its protection. At this liberty we are pleased to note Kazkommertsbank with compliance certificate to Oracle's licensed policy. We intend also in future to continue certification of financial institutes of RK to the subject of licensed policy observance". Today legislation of RK puts forward compulsory requirements to usage of licensed program supply. And though in 1996 the republic adopted the law "About intellectual property and adjacent rights", problem of intellectual property rights protection and observance of licensing rules continue to stay actual. Yermek N. Shamuratov, Kazkommertsbank managing director, stressed: "Kazkommertsbank - leader of Kazakhstan's banking system - works with the biggest program suppliers - Oracle, Microsoft, IBM, strictly observes license purity regarding all used products. This demand of the time, norm of business". Kazkommertsbank (www.kkb.kz) with assets over $5.5 bn. is the biggest bank of Kazakhstan, possesses the most highest among private financial institutes long term credit rating BB from agency Standard&Poor's. KKB has also long term credit rating BB from Fitch and long term on deposits Ba1 from Moody's. Corporation Oracle (www.oracle.com/ru) is the biggest in the world corporate program supplier and provides with its products and services in the field of consulting, training and technical support in more than 145 countries of the world. Oracle has more than 230,000 enterprises-clients all over the world: from enterprises of small and medium business to global corporations. Oracle's strategy is to provide financial institutions with open complex of program supply, which may be easily tuned to goals of concrete company and integrate with its internal systems. [2005-10-10]