Kazakh central bank moves to stabilise banking sector

The National Bank of Kazakhstan

The National Bank of Kazakhstan (NBK) has launched a plan to compensate depositors hit by the sharp drop in the value of the tenge, but could yet face other problems in the banking sector. 

The NBK said it had formed a working group with the Kazakhstan Deposit Insurance Fund to distribute "compensation" to depositors holding term deposits denominated in the national currency, up to one million tenge ($4,200).

Pressure on the currency proved too much for the central bank to contain on August 20,

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: