Regulatory Alerts2007-07-12 | ПҚ-670Added · Updated
ON MEASURES TO FURTHER INCREASE BANK CAPITALIZATION AND ACTIVATE THEIR PARTICIPATION IN INVESTMENT PROCESSES IN MODERNIZING THE ECONOMY
Priority directions for banking reform include increasing bank capitalization through share issuance, financing modernization projects, reducing cash circulation, and expanding mini-bank networks. A portion of the Central Bank's 2006 profit is allocated to increase the authorized funds of Microkreditbank, Pakhtabank, and Ipotekabank and to open credit lines for small business, agriculture, and mortgage lending. Commercial banks are recommended to direct at least 30% of post-tax profit to share capital and are granted a tax incentive until January 1, 2012, for income from long-term investment loans. Requirements are set for listing at least 25% of new shares on the stock exchange, and customs privileges for plastic card infrastructure are extended until January 1, 2010.