Kazakhstan challenges large asset transfer by ex-president's foundation

FILE PHOTO: Kazakh former President Nursultan Nazarbayev speaks before casting his ballot at a polling station during presidential elections in Astana, Kazakhstan, November 20, 2022. REUTERS/Turar Kazangapov

ALMATY (Reuters) - Kazakh prosecutors have filed a lawsuit seeking to nullify the transfer of a local bank's ownership from ex-president Nursultan Nazarbayev's non-profit foundation to a foreign company, they said on Thursday.

The foundation established by Nazarbayev, who ran the oil-rich Central Asian nation for three decades until resigning in 2019, used to own Jusan Bank, the sixth-largest lender in the former Soviet republic.