business and economy
Kazakh regulator suspends Astana Finance licenses
(SRI) - Kazakhstan’s Financial Supervision Agency (FSA) suspended several licenses issued to Astana Finance, a large domestic lender which had announced plans to restructure its debt in May.
The FSA suspended for three months Astana Finance’s brokerage license, its portfolio management license, and its lending license due to violations of regulatory requirements, the financial regulator said in a statement.
“[The licenses were suspended due to] violation of prudential norms set by the rules of calculation of prudential norms for organizations engaged in brokerage and dealer activity with right to maintain client accounts in the capacity of nominal holder and separate types of banking transactions,” the FSA said in a statement published by KASE.
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