Government should not get involved as far as private banks are concerned -Tokayev

NUR-SULTAN. KAZINFORM - In his interview to Bloomberg President of Kazakhstan Kassym-Jomart Tokayev noted that over the past three years the National Bank of the Republic of Kazakhstan had been conducting a systematic audit of the long-standing problems of the banking system, Kazinform reports.

"These problems have accumulated over the years and it's not that easy to solve them overnight of course. We need some new measures, new attitudes, new assessments to the banking system," the Head of State said.

President Tokayev expressed hope that the National Bank would ‘take lessons from the past, from what has happened in the baking system.

"The banking system is extremely important for Kazakhstan, for our economy, but my assessment of this issue as a president that the government should not get involved any more, any longer, with its loans as far as the private banks are concerned," Tokayev stressed.