Banks' foreign loans not to exceed 30% - Marchenko
ASTANA. August 18. KAZINFORM /Muratbek Makulbekov/ Second-tier banks of Kazakhstan will be introduced a threshold level of external borrowings. Chairman of the National Bank Grigory Marchenko has announced it during the Government's telephone conference today. Following the chief banker's report, Prime Minister Karim Massimov noted a threshold level of foreign borrowings for the second-tier banks should be established. According to the PM, this should be introduced namely in the crisis period since during economic revival it would be difficult. G. Marchenko said the Concept of Development of Kazakhstan's Financial Sector elaborated at present by the Bank provides for a fixed level of foreign borrowings at 30% of the total volume of foreign obligations.