Kazakhstan denies bankruptcy reports of country’s banks

Photo: Kazakhstan denies bankruptcy reports of country’s banks  / Business News

Astana, Kazakhstan, Feb.19
By Daniyar Mukhtarov - Trend:

Information about the difficult financial position of a number of Kazakh banks is not true, head of Kazakhstan's National Bank Kairat Kelimbetov said on Feb.18 at a briefing at the Central Communications Service under the country's president in Astana.

"The National Bank states that this information is untrue, inaccurate and provocative and is aimed at destabilising the banking system of our country," Kelimbetov said.

In turn, the National Bank has already applied to law enforcement agencies to prevent and combat such provocative action, according to Kelimbetov.

"The National Bank said that all Kazakh banks have sufficient funds both in the national and foreign currency," the bank head said.

The National Bank head said that the deposits of individuals in any currency are guaranteed by the state in accordance with the country's legislation.

Kelimbetov also urged Kazakh citizens not to succumb to such provocations and to remain calm.

Information was spread via SMS in Kazakhstan on Feb.18 about the difficult financial position of some Kazakh banks which in turn led to excessive demand by depositors in these banks for foreign currency.

Translated by L.Z.

Edited by S.M.

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