BTA Bank sponsored Kazakh bankers to visit Kiev for exchange of experience26.03.2008 / Press-service
On March 23, financiers from Kazakhstan completed a 3-day visit to Kiev sponsored by BTA Bank (Ukraine). The Kazakh delegation comprised of Deputy Chair of the National Bank of Kazakhstan Medet Sartbayev, Director of the Bank Oversight Department of the Financial Supervision Agency Mukhtar Bubeyev, Managing Director of the Association of Financers of Kazakhstan Askar Urtembayev and Advisor of the Eurasian Club of Bankers Dosym Satpayev.
This visit of high-profile financiers has testified that a single financial space of BTA group between Kazakhstan and Ukraine enables a high-level exchange of experience between representatives from the two countries.
Financiers from Kazakhstan have delivered speeches at the XIV Congress of Bankers of Ukraine and then met with prominent financial journalists of that country. Delegation members have described steps taken by the regulators of Kazakhstan to mitigate a negative influence of the global crisis on the national economy in general and the banking system in particular.
"To provide Kazakh banks with short-term liquid assets in the national currency, the National Bank of Kazakhstan has increased reverse repo and embarked on currency swaps on security of foreign currency and balances of correspondent accounts of banks with the National Bank of Kazakhstan in freely convertible currency," said Medet Sartbayev.
"The banking system of Kazakhstan has been completely stabilized thus far. The international reserves increased in the first half of March 2008," says Askar Urtembayev.
The financiers have indicated that Ukraine's economy was insignificantly exposed to the global crunch due to its low integration into the world financial system. "The share of foreign borrowings of banks of Kazakhstan is more than three times more than that of Ukraine," opines Dosym Satpayev.
"We are glad to facilitate a constructive dialogue between financiers from Kazakhstan and Ukraine. This kind of exchange of experience can be a significant support to the development of the banking systems of the two countries. Arrangement of such events is a contribution of BTA to the creation of a single financial space between our countries," says chief Executive Officer of BTA Bank (Ukraine) Zhomart Yertayev.