USD/KZT 448.89  +0.07
EUR/KZT 477.93  +1.11

ASTANA. February 16. KAZINFORM /Aigul Tulekbayeva/ Supporting banking sector is necessary to preserve economic stability of the country, Prime Minister Karim Massimov has said at a telephone conference today, Kazinform reports. The Alliance Bank having wide experience in supporting small and medium businesses was chosen as a major operator in this sector, K. Massimov said and added that KZT 18 bln will be allotted to the bank for this aim. In turn, the BTA Bank was announced Governments operator bank in supporting building sector and agro-industrial complex. The BTA will also be a key operator in the mortgage market and refinancing the current mortgage loans on more favorable terms. KZT 43 bln is envisaged for this purpose. The PM reminded of reduction of the rate up to 11% and prolongation of terms of refinancing. In addition, the BTA and Alliance Bank will continue financing economy both at the expense of their own funds and funds that will be allotted by the Government and national companies, the Prime Minister said. SamrukKazyna National Welfare Fund and its structures will transfer a significant part of funds to the accounts of the Alliance, BTA, Kazkommertsbank and Halyk Bank, K. Massimov noted. According to him, all the banks will operate on the principle of profitability in accordance with international standards of corporate governance.


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