Tokayev criticizes activities of Development Bank of Kazakhstan

Kazakh President Kassym-Jomart Tokayev, during his speech in parliament, has criticized the work of the Development Bank of Kazakhstan (DBK), Report informs with reference to the portal Zakon.kz.

Tokayev noted that DBK has turned into a personal bank for a select circle of people. He instructed to reform the activities of the bank, as well as revise the procurement procedure for national companies.

The president of Kazakhstan spoke via video link in the Mazhilis (lower house of parliament). He said that the DBK has become a tool for redistributing money among the oligarchs in the country. In this regard, Kassym-Jomart Tokayev instructed the government to reform the bank’s activities. Tokayev also said that it is necessary to revise the procurement procedure for the investment holding Samruk-Kazyna and other national companies.

On January 2, protests began in Kazakhstan due to the increase in prices for liquefied gas, which later escalated into clashes with the police and riots. The president of Kazakhstan called the protests an attempted coup. According to the Ministry of Internal Affairs, the number of detainees has reached almost 10,000.