Six years have passed since the appropriation of BTA Bank
© 03.02.2015

On 2 February, 2015, exactly six years had passed since the government, the National Bank, the former Financial Supervision Agency and the State Fund ‘Samruk-Kazyna’, in cooperation with the National Security Committee on the personal order of Nazarbayev, took over BTA Bank - Muratbek Ketebayev, former Deputy Minister of Economy Kazakhstan, and subsequently, an outspoken opponent of the regime announced on his Facebook page.

Back in summer 2008, we already understood what was going to happen - Ketebayev reminisces - when Ablyazov last spoke with President Nazarbayev on the transfer of 50% of the bank shares to him. According to former Deputy Minister of Economy, the conversation wasn’t easy, and that's probably when ‘the leader of the nation’ realised that Ablyazov wouldn’t give in. Shortly after that, the state began to prepare for the appropriation of the bank – for this purpose, the law was changed and the people of Timur Kulibayev, the then favourite son-in-law of Nazarbayev, now condemned to disgrace, were installed in the institution.

Over the years, - Ketebayev writes – the bank received cash injections from the state totalling $10-15 billion; also, it underwent restructuring, but it is on the verge of bankruptcy again

During this time, Ablyazov has also become the main enemy of Nazarbayev. Akorda’s current economic problems are largely the result of Nursultan Nazarbayev’s erronious decisions to rob Ablyazov, and by this, weaken the very person who can consolidate part of the elite, the political opposition and civil society of the country – Ketebayev notes. In his opinion, no one came out victorious in this case; certainly not the state and not the ‘leader of the nation’ himself. According to Ketebayev, the beneficiaries are, inter alia, the lawyers, lavishly paid by BTA Bank. As proof, the former Deputy Minister of Economy has published data that show how much was spent between 2009 and November 2014 on a legal battle with Ablyazov. However, as Ketebayev assures, half a billion dollars is not the whole amount, as part of the activities are paid through other channels.

Source: Muratbek Ketebayev’s Facebook page


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