National Bank of Kazakhstan suspends some licenses of Bank of Astana
Baku, Azerbaijan, May 29
By Ali Mustafayev - Trend:
The National Bank of Kazakhstan has suspended the license of Bank of Astana for accepting deposits of individuals and opening bank accounts of individuals until Aug. 29, 2018 inclusive.
"This decision was made by the National Bank in the framework of the supervisory response to violation of the requirements of the banking legislation by the Bank of Astana and for systematic - three or more times within 12 consecutive calendar months - improper fulfillment of contractual obligations on payment and transfer operations," the press service of the National Bank stated.
The license is suspended for attracting new deposits and opening new bank accounts of individuals and does not apply to servicing existing deposits and customers of the bank.
In this regard, the Bank of Astana has published a message on its website, which says, "We inform that the Bank takes all previously announced measures to stabilize the financial condition. The executive staff intends to apply for the restoration of the license after the bank begins to fulfill its customer obligations in full."
Follow the author on Twitter: @Ali_Mustafayev