DBK opens first Islamic lease financing in Kazakhstan
ASTANA (TCA) — The Development Bank of Kazakhstan (DBK) said that its subsidiary has funded its first transaction on the terms of Islamic leasing in Kazakhstan. Continue reading
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Kazakhstan’s National Bank returns to currency market interventions
ALMATY (TCA) — Kazakhstan’s currency is in a very bad shape. There are various reasons for that, and although President Nazarbayev advises his citizens not to buy imported goods, people on the street feel the pinch and try to switch to dollars as much as they can. The crash in global prices of oil and other commodities has already brought Russia and Azerbaijan currencies to their lowest level losing more than 50%. Kazakhstan is not doing any better with the tenge moving, in about two years, from about 150 tenges per dollar to the incredible low level of close to 400 and the situation has much to do with the ever shifting National Bank policies. Continue reading
Kazakhstan plans no restrictions for foreign-currency operations
ALMATY (TCA) — Kazakhstan’s chief banker has said the National Bank of Kazakhstan is not planning any restrictions on operations with cash foreign currency in the country, Novosti-Kazakhstan news agency reported. Continue reading
Central Bank announces currency exchange restrictions in Turkmenistan
ASHGABAT (TCA) — On January 12 the Central Bank of Turkmenistan published on its website a press release on introducing restrictions on free currency exchange in the country. The announcement for print media, however, was offered only in the Turkmen language. The press release is not available on the Russian or English versions of the website. Below is the translation of the announcement, made by the independent website Chronicles of Turkmenistan. Continue reading
Bank in Kyrgyzstan gets full banking license
BISHKEK (TCA) — On January 12 the National Bank of the Kyrgyz Republic issued licenses to Kompanion Bank CJSC to conduct banking operations in national and foreign currencies. Continue reading
Banks in Turkmenistan stop dollar sales
ASHGABAT (TCA) — Authorities in Turkmenistan have restricted the use of hard currencies in the country. Banks in Turkmenistan have stopped selling US dollars but they still buy them, the Alternative News of Turkmenistan website reported on January 12. Continue reading
