ALMATY May 24 Kazakhstan's state-managed
pension fund invested $250 million in Azerbaijan's now troubled
state-run bank IBA, and Kazakhstan's central bank will seek
legal evaluation of this investment decision, central bank head
Daniyar Akishev said on Wednesday.
The International Bank of Azerbaijan, the country's biggest
lender, suspended payments on some liabilities and said last
week it was seeking support to restructure more than $3 billion
The decision to buy through an offshore company $250 million
of IBA's 10-year bonds with a coupon paying 8.25 percent
annually was taken in October 2014 by central bank officials at
the time, Akishev said.
That investment decision "is raising questions", Akishev
said, adding that Kazakh President Nursultan Nazarbayev had been
informed about the situation and "relevant" law-enforcement
bodies were dealing with the matter.
(Reporting by Mariya Gordeyeva; Writing by Dmitry Solovyov;
Editing by Maria Kiselyova)