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ALMATY, Kazakhstan () -- Kazakhstan has announced the establishment of the state-owned United Kazakhstan Bank, which has assumed control of government shares in the People's Bank of Kazakhstan and in Alem Bank of Kazakhstan.
Berdybek Saparbayev, a senior government official, said at a press conference that the bank was created Tuesday, but he emphasized that the legal independence of the other two banks is unaffected by the new national bank.
Kazakh Bank Set Up
11 August 1995
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