OREANDA-NEWS. On July 02, 2009 Halyk Savings Bank of Kazakhstan (Almaty), the listed company of Kazakhstan Stock Exchange (KASE), provided to KASE the following press release, reported the press-centre of KASE:

Halyk Savings Bank of Kazakhstan has to stop acceptance from borrowers for hypothecary loans refunding within the joint program with NWF Samruk-Kazyna.

At the government commission meeting on the Republic of Kazakhstan economy modernization issues were approved new funds distribution limits. As a result of the new distribution, funds allocated to Halyk Bank within the government hypothecary loans refunding program was decreased from 24 bn to 20. 5 bn tenge.

Meanwhile, during the action implemented by Halyk Bank were accepted over 5.5 thousand applications for more than 23 bn tenge. As of July 1 the Bank committee approved 5,174 applications to the amount of 20.8 bn tenge.

Thus, Halyk Bank of Kazakhstan will issue funds, allocated within the government program only on applications, on which were made positive decisions and has from July 1, 2009 to stop acceptance of application for hypothecary loans refunding. The issue of funds on previously approved applications will be implemented till August 1, 2009.