OREANDA-NEWS. On April 16, 2009 Bank CenterCredit (Almaty), a company listed on Kazakhstan Stock Exchange (KASE), provided KASE with a press release, reported the press-centre of KASE:

In connection with the general meeting of shareholders scheduled April 30, 2009 Bank CenterCredit deems necessary to inform shareholders of the following:

In accordance with item 5 of article 17 of the Law of the Republic of Kazakhstan "On banks and banking activity in Kazakhstan" legal entities, registered in offchore areas or affiliated with persons registered in offshore areas or individuals which are participants (founders, shareholders) of legal entities registered in offshore areas, the list of which is set by the authorized body  may not directly or indirectly own and (or) use, and (or) manage voting shares of banks-residents of Kazakhstan, except for the banks, having individual credit rating equal or exceeding 'А' assigned by a rating agency specified by the authorized body.

According to Resolution No. 145 of the Baord of the Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations dated October 2, 2008 "On Approval of List of Offshore Areas for Purposes of Banking and Insurance Activity, Activity of Proessional Stock Market Participants and other Licensed Activity on Stock Market, Activity of  Accumulative Pension Funds and Joint-stock Investment Funds" the list of  offshore areas was amended. The Resolution is effective December 8, 2008 and sets a requirement that current as on effective date of the Resolution financial organizations shareholders, registered in offshore areas specified in the Resolution bring their operation in compliance with requirements of the  Resolution before April 1, 2009.

According to comments of the Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations if a shareholder registered in offshore area for any reasons failed to sell shares in the term set by the above mentioned Resolution then the shareholder may not participate in the general meeting of shareholders.