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Kazakhstan National Bank suspends license of AsiaCredit Bank

31 july 2013, 20:56
0
AsiaCredit Bank
AsiaCredit Bank
The license of AsiaCredit Bank to accept deposits and open bank accounts for individuals has been suspended, Tengrinews.kz reports citing Kazakhstan Stock Exchange (KASE).

The license of AsiaCredit Bank for bank and other operations and transactions at the stock market, including for acceptance of deposits and opening bank accounts for individuals has been suspended for three months by the resolution of the National Bank of Kazakhstan issued on July 26, 2013.

AsiaCredit Bank was established in January 1992. Earlier the bank was known at the market as Lariba Joint Bank. In 2008 Nurbol Sultan bought 40 percent of the bank from its Saudi investors. He is currently the bank’s major shareholder.


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