Deficit of tenge liquidity created by regulator artificially due to fear of pressure on national currency - banker

Date: 12:11, 04-03-2015.

Almaty. March 4. KazTAG - The deficit of tenge liquidity has been created by the regulator artificially due to fear of further pressure on the rate of the national currency, said Umut Shaykahmetova, chairfigure of Halyk Bank Kazakhstan.
"I believe artificial deficit of tenge liquidity has been created, as the regulator fears the money would flow to the currency market and there will be further pressure on the rate," she said at the summit CFO Idea Exchange & Networking Event.
In her opinion, this way a problem appears "when there can be a crisis of payment default".
"Nonpayment not only between legal entities, but we see, that banks don't provide crediting. One company does not pay to another, they don't pay salaries, don't pay off their credits, the circle is very big. In addition the banks are facing liquidity crisis," she said.
"If non payments crisis starts in the bank sector, a bank will not be able to make payments, it will create huge crisis in the country. Thus, we raise these questions, this regulation or this activity, policy, may lead to weakening of the financial system," she concluded.

Share the news: