Nazarbayev charged Agency for Regulation of Financial Market to strengthen monitoring of condition of banking system

Astana. April 25. Kazakhstan Today - The Agency for Regulation and Supervision of the Financial Market and Financial Organizations needs to strengthen its work on monitoring of condition of the banking system. The President of Kazakhstan Nursultan Nazarbayev gave the instructions on Thursday during the meeting devoted to the reports of the National Bank, the Agency for Regulation and Supervision of the Financial Market and Financial Organizations and the Agency on regulation of activities of Almaty Regional Financial Center for 2007, the agency reports referring to the president's press service.

"The President set the objective to strengthen the work of the Agency for monitoring of condition of the banking system, to strengthen institutional prospects of the agency, and to develop and pass the law directed at strengthening of the agency powers," the press service informs.

According to the press service, the chairman of the Agency for Regulation of Financial Market and Financial organizations Elena Bahmutova in the report informed on significant slowing down of growth of assets and credit portfolio of the second tier banks in 2007 and the measures undertaken by the Agency for development of the assessment system of financial stability.

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