Some of the foreign banks are controlled by their countries and enjoy support of their parent banks with ratings higher than those of Kazakhstan banks: expert.
The National Fund of Kazakhstan was created in 2000 as a stabilization fund that accumulates windfall revenues from oil sales and ensures the economy of Kazakhstan will be stable against the price swings of oil.
According to him, the Government and the National Bank should take into consideration that local banks not always enjoy the same competitive advantage as foreign ones.