Bankruptcy at Two Major Banks would destroy Deposit Insurance System

    If at a minimum of two “system-forming” banks go bankrupt in Kazakhstan, the Deposit Insurance Fund will not be able to return money owed to depositors, Chairman of the Deposit Insurance Fund, Bahyt Mazhenova said, Kazakhstan Today reports citing KTK.
    According to KTK, such a precarious situation has not been encountered over the ten years of the existence of the deposit insurance system. All banks have paid obligatory payments to the fund regularly, according to Kazakhstan Today