Baku, Azerbaijan, June 4
By Nargiz Sadikhova - Trend:
Kazakhstan Deposit Insurance Fund together with the National Bank of Kazakhstan agreed to increase the maximum rate for currency-denominated deposits of the physical persons, Trend reports via Inbusiness.
“The increase will concern the time and savings deposits, which are placed by physical persons for the time duration of one year and longer,” the report said.
“The maximum rate is increasing from one percent to two percent, which is to allow for the funding base of the banks to become more resilient,” reads the message.
“However, the decision on certain rates on deposit products are to be taken by the banks which are offering this particular product according to the existing bank policy,” the statement said.
“Furthermore, the current account of balance is displaying surplus for the second quarter in a row. Thus, in 4Q2018 the surplus amounted to $1.5 billion and in 1Q2019 it equaled $0.8 billion,” the report said.
(1USD = 384.52 KTZ on June 4)
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