Kazinvestbank expelled from KASE

ALMATY. KAZINFORM JSC Kazinvestbank has been expelled from the Kazakhstan Stock Exchange (KASE), Kazinform correspondent reports citing the official website of the Exchange.

"By the decision of the Board of Directors of Kazakhstan Stock Exchange (KASE) from February 3, 2017 JSC "Kazinvestbank" (Almaty) was expelled from KASE categories "currency" and "stock". Therefore, JSC "Kazinvestbank" is no longer a member of KASE and has no right to trade any instruments on KASE", the statement reads.

The decision was made due to the fact that on December 27 the bank's license, to conduct banking and other operations and activities on the securities market, has been revoked.

As it was reported earlier, the National Bank of Kazakhstan revoked KazInvestBank's license on 26 December 2016. Bank clients were reminded that deposits in tenge and foreign currency and all accounts are protected by Kazakhstan's Deposit Insurance Fund (KDIF), i.e. in case court rules on forced liquidation of the bank KDIF shall compensate the depositors.