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State moves to stabilise Kazakh banking sector
The Kazakhstan government has now moved to control a significant portion of the countries major banks in an effort to stabilise the banking system. The state holding company Samruk-Kazyna, via its investment fund, the Samruk-Kazyna National Welfare Fund has now taken stakes in the country’s top four banks and has begun to appoint Samruk-Kazyna executives to the boards of directors of the banks.