Kazinvestbank terminates its activities
Baku, Azerbaijan, Jan. 25
By Ali Mustafayev – Trend:
Decision of the specialized interdistrict economic court of Almaty to forcibly terminate the activities of Kazinvestbank JSC entered into force on Jan. 24, the press service of the Kazakhstan Deposit Insurance Fund (KDIF) reported.
All deposits of individuals in Kazinvestbank JSC were transferred to DB Alfa-Bank JSC.
KDIF will attract an agent bank for payment of compensations.
The commencement of payments to individuals will be announced no later than Feb. 13, 2018.
On Dec. 26, 2016, Kazinvestbank's license to conduct banking and other operations was revoked.
The Kazakhstan Deposit Insurance Fund is a subsidiary of the National Bank of the Republic of Kazakhstan, established in 1999 to protect the rights and legitimate interests of depositors of second-tier banks.