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Financial organizations temporarily stop functioning, financial operations suspended in Kazakhstan

Kazakhstan Materials 6 January 2022 16:47
Financial organizations temporarily stop functioning, financial operations suspended in Kazakhstan

BAKU, Azerbaijan, January 6

Trend

All the financial organizations temporarily stopped functioning, and the financial operations were suspended in Kazakhstan, Trend reports, referring to the statement of the National Bank of Kazakhstan.

The decision is made in accordance with the decrees of the head of the country in order to ensure the safety of the population and the imposed state of emergency in all regions of Kazakhstan.

"Taking into account holding of counter-terrorism operations by the security forces and temporary disruptions of Internet functioning, as well as for the protection of health and life of employees of financial institutions and consumers of financial services, the Agency of the Republic of Kazakhstan for the Regulation and Development of the Financial Market (ARRFM), and the National Bank of Kazakhstan, announced the temporary cessation of the activities of all financial institutions, including the second-tier banks, the Kazakhstan Stock Exchange, the Central Securities Depository on January 6, 2022", stated the National Bank of Kazakhstan.

Kazakhstan's government announced late Jan. 4 that it was restoring some price caps on liquefied petroleum gas after the rare protests reached Almaty following a sharp rise in the price of the fuel at the start of the year.

Many Kazakhs have converted their cars to run on LPG, which is far cheaper than gasoline as a vehicle fuel in Kazakhstan because of price caps. But the government argued that the low price was unsustainable and lifted the caps on Jan. 1.

After the price of the fuel spiked, big demonstrations erupted on Jan. 2 in certain parts of the country. Public protests are illegal in the country unless their organizers file a notice in advance. Following the development of the situation, the government declared a state of emergency all over the country.

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