Necessary to separate banks from evident and hidden affiliated structures: N.Nazarbayev
15:57, 22 January 2010
ASTANA. January 22. KAZINFORM /Kanat Kulshmanov/ "It is necessary to separate banks from evident and hidden affiliated structures", Head of the State Nursultan Nazarbayev has said today at the hearing of the Government's report on the results of the socio-economic development of the country in 2009 and plans on development for 2010.
"The Kazakh National Bank and the Agency on Regulation and Supervision of Financial Market and Financial Organizations worked over stabilization of the banking system during this year and this was right. We should draw a lesson from this in the future. Banks must be engaged in banking operations only. We should work on it in order to separate banks from evident and hidden affiliated structures, such as insurance business, industrial facilities, construction companies", the President said.