Astana may bind foreign companies to keep some money at local banks

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Astana may bind foreign companies to keep some money at local banks

ASTANA. Sept 24 (Interfax) - It would be right for foreign companies operating in Kazakhstan to keep some of their money at local banks, Kazakh Prime Minister Karim Masimov said at a business roundtable in Astana on Thursday.

"True, the government has made this initiative. I can tell you that I am its author. I think that all companies doing business in Kazakhstan should keep some of their money at local banks," he said.

"I think that would be very honest and fair," the premier added. "So far, this is not a law, just a wish."

The premier noted that he implied Kazakh banks, financial institutions with mixed capital and foreign banks that have offices in Kazakhstan.

Kazakh President Nursultan Nazarbayev voiced the initiative earlier.