Kazakhstan’s National Bank has suspended the license of Qazaq Banki JSC for accepting deposits and opening bank accounts for individuals for a period from April 28 till July 27, the press service of the National Bank of Kazakhstan said in a message.
“The validity of the license of Qazaq Banki JSC for accepting deposits of individuals and opening bank accounts for individuals was suspended from April 28 until July 27 by the Resolution No. 67 of the Board of the National Bank of the Republic of Kazakhstan dated April 27,” the message said.
The decision was made within the supervisory response to certain violations of requirements of banking legislation on the grounds provided for by Clause 1, Article 48 of the Law of the Republic of Kazakhstan “On Banks and Banking Activity in the Republic of Kazakhstan” due to systematic inadequate performance of contractual obligations on payment and transfer operations, as well as, systematic violation of prudential standards and other binding norms and limits.
“The license for attracting new deposits and opening new bank accounts for individuals has been suspended and does not concern servicing of existing deposits and bank customers,” according to the National Bank.
The volume of individual deposits accepted by Qazaq Banki amounted to 41 billion tenge as of April 1. (Trend/Business World Magazine)
