Kyrgyzstan plans to raise the minimum rate for commercial banks’ registered and equity capital. The rate may be about $23.2 million for too-big-to-fail banks. The Kursiv edition has tried to determine whether these changes will affect Optima Bank and Halyk Bank Kyrgyzstan, the two subsidiaries of big Kazakhstani banks. The…
The government of Uzbekistan has reduced the value-added tax (VAT) to 12%. The new rule entered into force on January 1, 2023. The authorities expect that the move will help reduce the shadow economy, stimulate business activity in the country and increase public revenues. After reducing the VAT to 12%,…
Mikhail Lomtadze, CEO and co-founder of Kaspi has bought two million shares of the company from another stockholder Vyacheslav Kim. As a result, Lomtadze is the second largest stockholder after Baring Vostok, according to the company’s data from January 1, 2023. According to KASE, Lomtadze’s share in Kaspi increased from…
OTP Group, the leading financial organization in Hungary, has finally signed a purchase agreement with Uzbekistan’s Ipoteka-Bank. A long-awaited deal Even though the deal between Ipoteka-Bank and OTP Group was expected to be closed within two months, it took almost a year because of the Russian invasion of Ukraine. OTP’s…
The U.S. Office of Foreign Assets Control doesn’t mind if individuals who left Russia for Kazakhstan are using Russian payment cards Mir in their daily life, according to the Agency for Regulating and Development of the Financial Market in Kazakhstan. «Kazakhstan’s commercial banks can accept any payments and money transfers…
As a result, the company will be able to provide clients with direct access to Europe Cboe and other European exchanges
