Agricultural Minister welcomes Kazakh Agrarian Bank establishment

ASTANA. June 27. KAZINFORM Minister of Agriculture of Kazakhstan Assylzhan Mamytbekov has supported the proposal on the Kazakh Agrarian Bank establishment.

Speaking at the briefing of the Central Communications Service, A. Mamytbekov noted the Agrarian Bank doesn't need to keep 100% of its assets in the agricultural field. It could invest funds in related sectors such as packaging production, labels and so on.

Besides, the Minister stressed without amendments to the Law of Republic of Kazakhstan "On banks" realization of this initiative is impossible. According to the Kazakhstan's legislation, the establishment of any other specialized bank, except Zhilstroysberbank, is impossible.

"That is why, if this norm would be amended, we will salute the establishment of the Agrarian Bank. It will be useful for our sector," the Minister stated.