Basel III standards to be introduced in Kazakhstan by January 1 2019

Date: 09:44, 13-05-2014.

Astana. May 13. KazTAG - Basel III standards are planned to be introduced in Kazakhstan by January 1 2019, said Kairat Kelimbetov, chairman of the National Bank.

"We plan the banks will be ready by January 1 2019, and we will declare Basel III introduction in Kazakhstan," he said.

In his words, the National Bank proposed to commence transfer to Basel III requirements since January 1 2015.

"During the first 3 years the conditions for banks won’t change, they will be like they are today. But starting from 2018-2019 the requirements will be increased," he added.

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