The National Bank of Kazakhstan has suspended the license of Qazaq Banki for accepting deposits and opening bank accounts of individuals until September 28, said a message from the National Bank of the country.
“The decision was taken by the National Bank within the framework of the supervisory response to certain violations by the bank of the requirements of the banking legislation “On Banks and Banking Activity in the Republic of Kazakhstan”, for the systematic inadequate performance of contractual obligations for payment and transfer operations and systematic violation of prudential standards and other binding standards and limits,” the regulator said in the message.
The suspension of the license does not apply to servicing the existing deposits and customers of the bank.
As of July 1, the amount of accepted deposits by individuals of Qazaq Banki is 22 billion tenges. Individuals’ deposit portfolio in the bank accounts for 0.3% of the total volume of deposits of individuals of the banking system. (Trend/Business World Magazine)
