Banking Opportunities in Kazakhstan 2008

By Joseph C. Carter III (L) and Mukhtar S. Nurzhigitov (R)
McGuire Woods

Kazakhstan's commercial banking sector has grown dramatically in recent years. While the sector, like that in many other countries, is under great pressure, the result of the credit and liquidity crises that arose last year, the longer term prospects of Kazakhstan's banks remain bright. Strengthening their cause is Kazakhstan's positive fundamental economic outlook associated with its vast oil, gas and mineral resources. Despite shirt-term issues connected to the crises,

Kazakhstan's banking sector presents an attractive investment opportunity for foreign banks.