Kazakhstan • 06 January, 2020

The National Bank announces the reorganization of "Baspana"

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The National Bank of Kazakhstan, as the sole shareholder, has decided to voluntarily reorganize JSC "Kazakhstan stability fund" in the form of joining it JSC "Mortgage organization "Baspana". 

"The reorganized company will maintain the activities of JSC "Mortgage organization "Baspana" and JSC "Kazakhstan stability fund": promotion of financial stability of the banking sector through financial support of second-tier banks; implementation of the state program for refinancing mortgage housing loans (mortgage loans), as well as the implementation of the functions of the operator of the program of mortgage housing lending "7-20-25. New opportunities to purchase housing for every family" and the market mortgage product "Baspana hit" with the implementation of the redemption of the rights of claim for mortgage housing loans issued by second-tier banks in accordance with the programs, " the regulator said.

As noted in the National Bank, the reorganization will improve the efficiency of using the assets of JSC "Mortgage organization "Baspana" and JSC "Kazakhstan Stability Fund" in order to develop the banking sector and increase the availability of mortgage loans for the population.

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