Central bank cleans the house in Kazakhstan’s banking sectorKazakhstan 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.
Kazakhstan people keep $18 billion at home: Central Bank GovernorAccoding to him, massive misleading sms campaigns informing people of alleged bankruptcy of some of Kazakhstan-based banks in the wake of the 20% currency devaluation back in February and waves of rumors about possible devaluation recently have been encouraging people to keep their money at home.
Kazakhstan’s international reserves figure announcedKazakhstan’s international reserves, including the gold and FX reserves of the Central Bank and the assets of the National Oil Fund grew from $95.507 to $103.754 billion from January to July 2014.
Central Bank Governor advises against borrowingAccording to him, Kazakhstan’s people have been excessively eager to take mortgages and consumer loans (…).However, in more developed nations up to 70% permanently live in rented housing.
Kazakhstan announces its international reserves figureThe gold and FX reserves of the Central Bank grew by 7.1% to reach $26.471 billion from January to June 2014, with the assets of the National Oil Fund growing by 8.21% to reach $76.607 billion.
Central Bank Governor on Kazakhstan-based banksAccording to him, only Halyk Bank could be considered as truly important for the entire banking system as of today, with the new entity of merged KazKommertsbank and BTA having some prospects.
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