Kazakhstan’s Government to nationalize Biggest Bank - BTA

    Kazakhstan will effectively nationalize the country's biggest bank, BTA, by buying 78.14 percent of its shares, Yelena Bakhmutova, head of the state financial regulator, told a cabinet meeting on Monday.
    Speculation that the deepening financial crisis may force the government of Central Asia's biggest economy to nationalize one or more of the banks has gripped the market this month as economists remain worried about banks' ability to repay debt, according to Reuters.