Global Kazkommerts Investment Bank
MIGA issued $3.2 million in coverage to Global Menkul Degerler A.S. of Turkey for equity contribution to the establishment of an investment bank in Kazakhstan. The MIGA guarantee covers the risks of transfer restriction and expropriation.
Global Kazkommerts Investment Bank, the project enterprise, will offer a broad range of investment banking services to customers, including corporate finance, mergers and acquisitions, brokerage and advisory services, and equity research. The project will create about 35 local jobs, and employees will be trained locally and abroad. In addition, the project is expected to generate $1.2 million in annual tax revenues.