12th Islamic Financial Services Board summit in Almaty on May 19-21
The 12th Sammit of the Islamic Financial Services Board (IFSB) will take place in Almaty from May 19 to 21.
Morgan Stanley fires employee for stealing client data
US investment bank Morgan Stanley said it had fired an employee for stealing the personal data of hundreds of thousands of wealth management customers.
Several Kazakh banks cease issuing mortgage loans in tenge
Several Kazakhstan’s banks have ceased issuing mortgage loans in tenge.
Central Bank of Kazakhstan issues new 1000 bill
The Central Bank of Kazakhstan has issued a new 1000 tenge bill.
HSBC unit fined $12.5 mn for unregistered US services
A Swiss unit of British bank HSBC has agreed to pay $12.5 million for flouting US rules requiring registration of cross-border brokerage services.
More Russian banks to enter Kazakh market: Eurasian Economic Commission
Minister of Economy and Financial Policy of the Eurasian Economic Commission (EEC) Timur Suleimenov spoke about the mutual Kazakh-Russian financial market and the possibility of increasing the number of Russian banks in Kazakhstan, as well as the prospects of Kazakh banks entering the Russian market.
Russian central bank ready to step in to stop ruble panic
Russia's central bank said it was ready to step in to protect the crashing ruble, after the currency was hammered by a day of panic selling.
Foreign borrowers responsible for 40% of NPLs in Kazakhstan
A significant bulk of the NPLs were provided back in 2006-2008, a time of heavy borrowing and high appetite for risky investments.
British banker in court over grisly Hong Kong double murder
A British banker appeared in a Hong Kong court charged with the grisly murder of two women whose bodies were found in his upmarket apartment.
National Bank of Kazakhstan defends pension assets' investment into second tier banks
The National Bank of Kazakhstan has responded to the criticism of several members of the Kazakh Parliament, who claimed the Single Pension Fund was practicing risky investments that put the pensioneers' savings in danger.
Kazakh deputies outraged at risky investments of Single Pension Fund
Kazakhstan MP of Ak Zhol faction voiced their serious concern over the investments the Single Pension Fund was practicing. In their opinion, these activities may lead to destabilization of the entire lending sector of Kazakhstan.
French court authorises extradition of Kazakh tycoon Ablyazov
A French court authorised the extradition of exiled Kazakh oligarch Mukhtar Ablyazov to Russia and Ukraine, despite concerns over his safety.
India seen holding rates to guard against inflation
India's central bank will keep interest rates on hold as it awaits more proof that stubborn high inflation is headed downward in Asia's third-largest economy.
Hungary passes new law helping borrowers, hitting banks
Hungary's parliament adopted a law compelling banks to pay compensation to borrowers hit by past interest rate hikes on loans deemed unfair by authorities.
Central bank cleans the house in Kazakhstan’s banking sector
Kazakhstan National Bank has introduced a new ban prohibiting Kazakh banks from keeping over 30% of their funds abroad, but offered them tenge rate stability and cheap funding at the same time.
Cyprus fears next tranche of bailout funds at risk
Cyprus is unlikely to receive the next tranche of rescue funds from international lenders after apparently falling foul of them over new legislation.
Santander names Ana Botin as chair after her father's death
Ana Patricia Botin was named the new chairman of Spanish bank Santander, replacing her father who died suddenly of a heart attack.
Kazakhstan-based banks obliged to keep equity capital inside the country
According to the Central Bank Governor, up to now they have been able to keep the money on their correspondent accounts abroad.
Kazakhstan expands Tenge to US Dollar exchange rate corridor
Kazakhstan's National Bank has enlarged the Tenge to US Dollar pegged corridor from 6 tenge to 18 tenge.
Standard & Poor`s on tenfold obligatory increase in Kazakhstan-based banks’ capital net worth
As of July 1, 2014, 33 out of 38 Kazakhstan-based banks are short of the standard to be introduced in 2019.