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Kazakhstan cenbank revokes licence of small lender Kazinvestbank
December 27, 2016 / 7:50 AM / 10 months ago

Kazakhstan cenbank revokes licence of small lender Kazinvestbank

ALMATY, Dec 27 (Reuters) - Kazakhstan’s central bank has revoked the licence of small lender Kazinvestbank on Tuesday, citing its repeated failures to properly process payments and money transfers.

The central bank said in a statement it has appointed a temporary administration at the bank and would seek its liquidation in the court, while the deposit insurance fund, also controlled by the regulator, would pay out Kazinvestbank’s retail deposits within the insurance limits. (Reporting by Mariya Gordeyeva; Writing by Olzhas Auyezov; editing by Katya Golubkova)

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