Bank formation in Kazakhstan Bank formation in Kazakhstan has a two-tiered banking system. The first tier is comprised of the National Bank of Kazakhstan (NBK), which reports to the president. The second tier includes 28 commercial banks, including one state-owned…
An EMI License allows a business to issue electronic money in exchange for fiat currency. This electronic money can be taken for farther transactions. A known example of electronic money is prepaid cards where value can be loaded and used…