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RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of December 22, 2017 No. 269

About approval of Rules of creation of provisions (reserves) according to International Financial Reporting Standards and requirements of the legislation of the Republic of Kazakhstan about financial accounting and the financial reporting

(as amended on 11-02-2021)

According to the Code of the Republic of Kazakhstan of December 25, 2017 "About taxes and other obligatory payments in the budget" and the Law of the Republic of Kazakhstan of March 19, 2010 "About the state statistics" the Board of National Bank of the Republic of Kazakhstan DECIDES: (Tax code)

1. Approve the enclosed Rules of creation of provisions (reserves) according to International Financial Reporting Standards and requirements of the legislation of the Republic of Kazakhstan about financial accounting and the financial reporting (further - Rules).

2. To banks (except for the bank which is national institute of development which controlling stock the national managing holding owns) and to the organizations performing separate types of banking activities within one month from the date of enforcement of this resolution to develop and approve the Method of calculation of provisions (reserves) according to Rules.

3. Recognize invalid some resolutions of Board of National Bank of the Republic of Kazakhstan according to the list according to appendix to this resolution.

4. To accounting department (Rakhmetova S. K.) in the procedure established by the legislation of the Republic of Kazakhstan to provide:

1) together with Legal department (Sarsenov N. V.) state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) within ten calendar days from the date of state registration of this resolution the direction it the copy in paper and electronic type in the Kazakh and Russian languages in the Republican state company on the right of economic maintaining "The republican center of legal information" for official publication and inclusion in Reference control bank of regulatory legal acts of the Republic of Kazakhstan;

3) placement of this resolution on official Internet resource of National Bank of the Republic of Kazakhstan after its official publication;

4) within ten working days after state registration of this resolution submission to Legal department of data on execution of the actions provided by subitems 2), 3) of this Item and Item 5 of this resolution.

5. To management on consumer protection of financial services and external communications (Terentyev A. L.) provide within ten calendar days after state registration of this resolution the direction it to the copy on official publication in periodic printing editions.

6. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Galiyeva D. T.

7. This resolution becomes effective after ten calendar days after day of its first official publication and extends to the relations which arose since January 1, 2018.

Chairman of National Bank

D. Akishev

It is approved

Minister of Finance of the Republic of Kazakhstan

2018

 

B. Sultanov

It is approved

Chairman of Committee according to the statistics Ministries of national economy of the Republic of Kazakhstan

2018

 

N. Aydapkelov

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of December 22, 2017 No. 269

Rules of creation of provisions (reserves) according to International Financial Reporting Standards and requirements of the legislation of the Republic of Kazakhstan about financial accounting and the financial reporting

Chapter 1. General provisions

1. These rules of creation of provisions (reserves) according to International Financial Reporting Standards and requirements of the legislation of the Republic of Kazakhstan about financial accounting and the financial reporting (further – Rules) are developed according to the Code of the Republic of Kazakhstan of December 25, 2017 "About taxes and other obligatory payments in the budget" (Tax code), the Law of the Republic of Kazakhstan of March 19, 2010 "About the state statistics" and determine procedure for creation of provisions (reserves) according to International Financial Reporting Standards and requirements of the legislation of the Republic of Kazakhstan about financial accounting and the financial reporting for banks (except for the bank which is national institute of development which controlling stock the national managing holding owns), branches of nonresident banks of the Republic of Kazakhstan and the organizations, the banking activities performing separate types based on the license for carrying out banking loan activities (further – the financial organizations).

2. In Rules the following concepts are used:

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