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Parliamentarians and Bankers discuss financial sector effect on Kazakhstan Economy

09.04.2007 / Press-service

On the 9th of April, 2007 Bank TuranAlem hosted Deputies of Mazhilis (Low Chamber) of the Parliament of the Republic of Kazakhstan. This was for the first time that the Parliament Deputies group representing Finance and Budget Committee and other Mazhilis Committees visited a commercial Bank.

The aim of the visit is to know more about Bank TuranAlem, to discuss with the Directors the matters of banking community transparency, state regulation of banking activities and economy’s financial sector development.

"Open doors day" began with the meeting of Mazhilis Deputies with the Bank’s top-managers where they discussed influence of financial sector on Kazakhstan economy, place and role of Bank TuranAlem in Kazakhstan banking system, Bank’s development strategy and its participation in State programs.

At the "round table" the matters of Kazakhstan economy and financial sector development were discussed with A.Saidenov – the Chairman of the National Bank, A.Dunayev – the Chairman of the Agency on Regulation and Supervision Of Financial Market and Financial Organizations, A.Aristanov – the Chairman of the Agency of the Republic of Kazakhstan on Regulation of Almaty Financial Center Activity, representatives of Halyk Bank, Kazkommertsbank, ATF Bank, Alliance Bank and CenterCredit Bank. S.Akhanov the Chairman of Kazakhstan Financiers Association acted as a moderator of the round table. Besides the Deputies learned about work of Central Operation Floor and Bank TuranAlem’s cash settlement units, and during briefing Deputies and Bankers answered journalist’s answers.

"Meeting of BTA managers and Kazakhstan Parliamentarians – is one more step to increase banking sector transparency and availability. Discussion of medium-term macroeconomic policy and other up-to-date issues of the Republic social and economic development may become one of the main orientations of the Bank cooperation with the Mazhilis and Government regulation bodies" – said Mukhtar Ablyazov, the Chairman of the Bank TuranAlem Board of Directors.

JSC "Bank TuranAlem" (BTA) is the core of the financial group existing in all segments of financial market. The network of the banks - strategic partners of BTA is spread over Ukraine, 4 regions of Russia, Byelorussia, Georgia and Armenia. Representative offices are operating in Russia, Byelorussia, China, Kyrgyzstan, Tajikistan and United Arab Emirates. The assets of the BTA group as at the beginning of 2007 comprise 16,3 billion USD, aggregate shareholders’ equity 2 billion USD. Consolidation of the aggregate assets is planned with increase up to 25 billion USD till 2010, and 50 billions USD till 2015.