A major fire occurred at the Supara-2 ethno-complex in the Chunkurchak Gorge of the Alamedin district. According to preliminary data, the fire started due to problems with a stove chimney. The fire destroyed one wooden yurt and approximately 350-400 square meters of kitchen space. As a result of the incident, three employees of the establishment were injured, two of whom were hospitalized with carbon monoxide poisoning.

StoriesDaily Digest: Fire, Construction Rules, and Bank SanctionsSlides: 7
  1. Daily Digest: Fire, Construction Rules, and Bank Sanctions
  2. Major fire in Alamedin: Supara-2 ethno-complex in Chunkurchak Gorge; One wooden yurt and 400 sqm of kitchen destroyed; Three employees injured, two hospitalized
  3. New developer rules. The Ministry of Construction now prohibits selling apartments or advertising objects before the completion of the zero cycle.
  4. 30 companies — developers banned from launching new projects
  5. Sanction risk mitigation. Commercial banks are reducing secondary sanction risks under an interagency group led by Bakyt Sydykov.
  6. 169 organizations — Eldik Bank stopped servicing
  7. What this means. Stricter oversight for construction funds and increased compliance in the banking sector to avoid international sanctions.
Video: Nomad

Restrictions for developers

The Ministry of Construction, led by Nurdun Oruntaev, has introduced new rules for the operation of construction companies. According to the agency's order, developers are prohibited from selling apartments, entering into shared participation agreements, and advertising objects until the completion of the "zero cycle"—a stage that includes the installation of the foundation and underground premises. This measure is aimed at protecting citizens' funds from risks during the early stages of construction.

In addition, the Ministry of Construction imposed a ban on launching new projects for approximately 30 companies. These organizations will not be able to start new construction until they complete old objects, the construction of which has been delayed since 2020.

Bank efforts to minimize risks

Commercial banks in the country continue measures to reduce secondary sanction risks. The work is coordinated by an interagency group led by Special Representative of the President Bakyt Sydykov. As part of compliance procedures, a number of banks have severed ties with organizations that pose a threat.

115companies ABank stopped servicing
169organizations Eldik Bank restricted
30developers received a ban on new projects

Context

Bakyt Sydykov holds the post of Minister of Economy and Commerce of the KR. The fire at the Supara-2 ethno-complex occurred in the Alamedin district.