Operation on simultaneous transfer of assets and liabilities of Bank Astana-finance JCS on deposits of individuals to AsiaCredit Bank JCS in full amount has been coordinated

/IRBIS, October 25, 2011/ - Operation of the simultaneous transfer of assets and liabilities of Bank Astana-Finance JCS on deposits of individuals in full amount to AsiaCredit Bank JCS, reported today the Committee for the Control and Supervision of Financial Market and Financial Organizations of the National Bank of Kazakhstan. It is reported that by the directive of the Board of the National Bank of Kazakhstan from July 1, 2011 # 79 "The withdrawal of a license to conduct banking and other operations by the joint- stock company Bank "Astana-finance", in terms of acceptance of deposits, opening and maintaining bank accounts of individuals "(Resolution # 79) of Bank "Astana-Finance" (the Bank) has been deprived of a license to conduct banking and other transactions undertaken by banks in the domestic and foreign currency, in terms of acceptance of deposits, opening and maintaining bank accounts of individuals. In accordance with the requirements of Ordinance # 79, Bank must implement measures to return the deposits of individuals, including current accounts, or transfer to another bank that meets the requirements of banking legislation. As indicated, the Bank and AsiaCredit Bank JCS addressed the Committee with a joint application for the coordination of operations for the simultaneous transfer of assets and liabilities on deposits of individuals Asia Credit Bank, accompanied by an appropriate set of documents. Following consideration of the above set of documents, Order of the Chairman of the Committee for the Control and Supervision of Financial Market and Financial Organizations of the National Bank of Kazakhstan on October 11, 2011 # 101 "On the coordination of operations for the simultaneous transfer of assets and liabilities of joint-stock company Bank Astana- Finance for deposits of individuals in the full joint-stock company AsiaCredit Bank JCS was issued. The announcement of the transfer of retail deposits, including current accounts, in Asia Credit Bank specifying the timing of the depositors of objections and addresses to which they are taken, the Bank published in periodicals that are distributed throughout the territory of the Republic of Kazakhstan in Kazakh and Russian languages. The absence of a written objection from the depositors of the Bank within ten calendar days from the date of publication of the advertisement should be considered as consent of the depositor by the Bank for the transfer of deposits in Asia Credit Bank. At the end of ten calendar days from the date of publication of the announcement the Bank is entitled to transfer the deposits of individuals, including current accounts, in Asia Credit Bank. "Thus, despite the withdrawal of the Bank of the above licenses, deposits of depositors saved by transferring them to another bank, where depositors can get their money in full on their wish", - was stated in the message. [2011-10-25]