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Government accepted regulation on creation of Fund of stressful assets

Astana. November 3. Kazakhstan Today - The regulation on creation of the Fund of stressful assets was accepted during the government session on Saturday, the agency reports. "We are creating Fund of stressful assets so that the state will have a possibility to use some resources to credit the economy," K. Masimov said. "All these resources first of all should be used for crediting of small and medium business and agriculture," he noted. "The purpose of the fund is maintenance of stability of the financial system by improvement of quality of assets of the banking sector and increase of trust of investors," the Minister of Finance of Kazakhstan, Bolat Zhamishev, said. The fund will be 100 percent participation of the state in its authorized capital. The initial capitalization of the fund makes 52 billion KZT.

Resourse: Kazakhstan Today

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