Kazakhstan bank turns to Hong Kong as gateway to offshore renminbi finance
A Kazakhstan-based commercial bank backed by China Citic Bank is seeking to collaborate with Hong Kong financial institutions and investors to develop new financing channels for the Central Asian country through the city’s thriving offshore renminbi market. Murat Baisynov, chairman of Altyn Bank, told the South China Morning Post that three clients of the Almaty-headquartered lender were currently exploring the issuance of dim sum bonds in Hong Kong, a trend he expected to co
Altyn Bank, a commercial bank in Kazakhstan with backing from China Citic Bank, is looking to leverage Hong Kong's offshore renminbi market. The bank aims to establish new financing pathways for Kazakhstan by partnering with Hong Kong financial institutions and investors. Altyn Bank's chairman indicated that three of its clients are considering issuing dim sum bonds in Hong Kong, a trend he anticipates will grow. This initiative seeks to tap into the significant liquidity and financial expertise available in the Hong Kong market.
This move highlights Kazakhstan's efforts to diversify its financing sources and deepen economic ties with China through Hong Kong's established offshore renminbi hub.
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