Kazakhstan may restrict loan guarantees by foreign banks
15:48, 18 September 2012
ASTANA. September 18. KAZINFORM Kazakhstan's central bank may restrict foreign banks from providing guarantees used by their units in the country to underwrite loans because that gives them an advantage over local lenders.
"This question is under discussion," central bank Deputy Chairman Daniyar Akishev said in interview today in the financial capital, Almaty. "We want the conditions to be equal for everyone."
The central bank "reckons" foreign banks should inject capital instead of providing guarantees, said Akishev, adding that overseas lenders say this may boost lending costs in Kazakhstan. He declined to say when a decision would be made, Kazinform quotes Bloomberg.
Full story