Final document on Alliance Bank's restructuring to be drafted in Sep, 2009
ASTANA. July 21. KAZINFORM /Aigul Tulekbayeva/ Final document on Alliance Bank's restructuring will be drafted in September, 2009. The process of the state's intervention in the Bank's capital will be finished by year end. Head of SamrukKazyna National Welfare Fund Kairat Kelimbetov has made it public at the Government's sitting today.
At present the Alliance Bank submits its restructuring plan to the Financial Supervision Agency, he informed.
K. Kelimbetov also reminded that the Alliance Bank had signed a memorandum of mutual understanding with the Creditors' Committee. A Memorandum of intentions was signed between the Bank and SamrukKazyna as well. If the restructuring plan is successful, the Fund is ready to be the Bank's stockholder, K. Kelimbetov noted.