System bankowy i prawo bankowe Republiki Kazachstanu
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Banks are one of the fastest growing economy branches in the Republic of Kazakhstan. Since regaining independence in 1991, the financial system of the republic changed almost entirely from state ownership, centralised decision making and settling of accounts, into a system defined by market forces, with a right to private ownership, decentralised management and loan allocation, which is favourable for effectiveness growth and the financial discipline of economy. During the first period of reforms (1993–1994) numerous bills and other regulations were passed to adjust the banking system in Kazakhstan to market economy requirements. Institutional reforms resulted in among others commercialising state banks, but also closing down commercial banks going bankrupt, and simultaneously consolidating banks and merging initial capitals. Key documents for today’s banking system structure in Kazakhstan are bills passed in 1995: The Republic of Kazakhstan ‘s National Bank and The Banks and banks’ activities in the Republic of Kazakhstan. These documents ended the forming of legal and an economical basis for banks in Kazakhstan, describing the central bank’s status – the National Bank of the Republic of Kazakhstan – as well as lower level banks’ status. Currently there are only two specialised banks operating in Kazakhstan – the Development Bank of Kazakhstan and the Zylstrojbank, whose activities are regulated by certain law acts. Among the commercial banks, the so-called Big Three is dominating: Kazkommertsbank, TuranAlem and Narodny. They represent 58.8% of all the banking system’s assets. The share of medium-size banks is 39% assets and the smaller banks are the subject of the biggest fluctuations – a result of their political situation.
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