Regulator stands behind Kaspi, criticizes short seller report

The Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market confirms that Kaspi Bank fully complies with all international sanctions. Complements the bank’s transparency.

On Monday, the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market, criticised a highly inaccurate report published about Kaspi Bank.

According to the Agency, Kaspi Bank fully complies with the sanctions regime of the United States, the European Union and other foreign countries.

The Bank is one of the systemically important banks in Kazakhstan, consistently demonstrating sustainable growth and a high level of transparency. In addition, the Bank cooperates with correspondent banks in the United States and the European Union to ensure best KYC, risk management and internal controls for transactions with a high level of compliance risk.

In turn, the regulator reiterated that in 2023 Kazakhstan’s anti-money laundering policies and systems were evaluated by the international Financial Action Task Force (FAFT) which confirmed their sustainability and effectiveness.