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http://personalmoneystore.com/moneyblog/2009/02/13/kazakhstan-obama-executives-payday-loans/ Prime Minister caps executive salaries
Masimov

Masimov

Executives in Kazakhstan probably will be able to get by without payday loans, but many of them are facing a big pay cut.

Prime Minister Karim Masimov has said that salaries for executives at state-run firms and banks should not be paid more than him. Masimov says he makes $4,700 a month, in U.S. dollars, or 700,000 tenge.
Following a leaders lead

The move is similar to the one U.S. President Barack Obama made last week when he capped salaries for Wall Street executives. Obama said any executives at banks who get bailout money should not get more than $500,000 per year in total compensation. Obamas annual salary is $400,000.

However, Kazakhs affected by Masimovs edict will take home far less than American executives. The new rule means Kazakh executives salaries will be capped at $56,400 a year. Still, probably the only executives who will need payday loans are those who want to make payments on their private jets on time. The new executive salaries in Kazakhstan are 12 times the average wage. To read more on this article please visit... http://personalmoneystore.com/moneyblog/2009/02/13/kazakhstan-obama-executives-payday-loans/

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