OREANDA-NEWS. On November 24, 2008 Alliance Bank (Almaty), the listed company of Kazakhstan Stock Exchange (KASE), provided to KASE the press release of November 20, 2008, where informs on the following, reported the press-centre of KASE:

In Astana Alliance Bank and Eurasian National University (ENU) named after L. Gumilyev signed the Memorandum of Understanding (MOU). The document was signed by Vice-President of Alliance Bank Adilkhan Umerbaev and Rector of ENU, Doctor of Law, Professor Bakhytzhan Abdraimov.

MOU is aimed at joint efforts of the Bank and the University on development of the banking product for providing loans to trainers and improving social welfare of young and perspective scientists of the University. According to MOU the product will be unique because loans rate will be the lowest on the existing market. This project must become one of the illustrative examples of successful government and private sector cooperation.

According to MOU it is planned the interests rate when providing loans will make up 5% APR. it is assumed that debtors will not bear any expenses on the loan organization such as payment of commission charges for applications consideration, on provision of the loan and keeping the bank account.

Alliance Bank loans can be provided to students of Eurasian National University to the amount of cost of one year studying in the university.