National Bank of Kazakhstan - Annual Report 2007
In 2007, the National Bank of Kazakhstan gave priority to financial rather than price stability, says the central bank in its latest Annual Report.
The report notes that Kazakhstani banks developed mainly due to foreign capital and encountered liquidity problems as the global credit crisis intensified. The report says that it was crucial to preserve bank stability and avoid bank panic, payment default crisis and flight of depositors.
The report says that due to the increased focus on financial
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