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MOSCOW () -- The Kazakh government has ordered an investigation into the country's biggest commercial bank -- Alem Bank -- after discovering that it owed its clients some $100 million, Kazakh government spokesman Berdibek Saparbayev said Wednesday, Interfax reported.
"It is so far not a matter of the bank's bankruptcy, but the cabinet is alarmed by the large debt of the major commercial bank," he said.
Saparbayev said the bank's management would not be allowed to control the bank during the inspection, but said banking operations would continue.
Kazakh Bank Probed
13 July 1995
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