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National Bank of Kazakhstan to suspend operation of exchange offices

The measures on resuming trading at the foreign currency exchange of Kazakhstan Stock Exchange and conducting international payments and transfers will be taken as the situation in the city of Almaty and other regions stabilizes

NUR-SULTAN, January 9. /TASS/. The National Bank of Kazakhstan has announced that the operation of exchange offices in the country has been suspended for safety reasons.

"The operation of exchange offices of second-tier banks and authorized organizations <...> will be temporarily suspended for safety of exchange offices, as well as their staff and clients," the regulator said in a statement posted on its website on Sunday.

The measures on resuming trading at the foreign currency exchange of Kazakhstan Stock Exchange and conducting international payments and transfers will be taken as the situation in the city of Almaty and other regions stabilizes, as well as communication channels recover, the National Bank said. The work of the banking system will be resumed gradually, relying on the order of priority and social importance of banking services for the population and business, according to the statement.

Protests erupted in several Kazakh cities on January 2, escalating into mass riots with government buildings getting ransacked in several cities a few days later. The ensuing violence left scores of people injured, with fatalities also being reported. Subsequently, Kazakh President Kassym-Jomart Tokayev turned to the Collective Security Treaty Organization (CSTO) requesting assistance from the Russia-led bloc. As a result, peacekeepers have already been deployed to Kazakhstan. Law and order, Kazakh authorities affirm, was restored to all of the country’s regions by the morning of January 7. However, the situation remains tense in Almaty. Tokayev has declared January 10 a day of national mourning in the country.

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