Recently, a number of articles appeared in the international press linking former President Nursultan Nazarbayev to Jusan Bank (Bank) and its London-based parent company, Jusan Technology Limited, UK (JTL). The articles alleged that Mr. Nazarbayev controls both the Bank and JTL. Some of those articles were picked up by the press and social media in Kazakhstan. 

Bank notes that the articles grossly misrepresented the facts. The Bank herewith states unequivocally that neither Mr. Nazarbayev nor any member of his family have any affiliation with Jusan Bank, its subsidiaries and its parent company, JTL. Neither are they shareholders, nor do they exercise any form of control over the Bank or JTL. 

The ultimate purpose of the Bank and its affiliated companies is to further educational goals for the creation of a prosperous Kazakhstan. Aside of reinvesting profits in order to develop Jusan’s eco-system with technology-driven products and services that will improve customers’ lives, the rest of the Bank’s profits are directed to finance educational projects that meet international standards and benefit Kazakhstan’s society at large.

In light of the above, Bank is committed to preserve its reputation, and will defend itself against any unjustified allegations, including through recourse to legal means as necessary.

Press Service of Jusan Bank