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RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of March 27, 2018 No. 62

About approval of Rules of implementation of classification of assets and contingent obligations on the provided microcredits, references of assets on the provided microcredits to doubtful and hopeless, and also creations of provisions (reserves) against them

(as amended on 28-05-2021)

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 November 26, 2012 "About microfinancial activities" the Board of National Bank of the Republic of Kazakhstan DECIDES: (Tax code)

1. Approve the enclosed Rules of implementation of classification of assets and contingent obligations on the provided microcredits, references of assets on the provided microcredits to doubtful and hopeless, and also creations of provisions (reserves) against them.

2. Declare invalid the resolution of Board of National Bank of the Republic of Kazakhstan of December 24, 2012 No. 381 "About approval of Rules of implementation of classification of assets and contingent obligations on the provided microcredits and creations of provisions (reserves) against them" (it is registered in the Register of state registration of regulatory legal acts at No. 8305, it is published on June 5, 2013 in the Kazakhstanskaya Pravda newspaper No. 190-191 (27464-27465).

3. To department of methodology of the financial market (Abdrakhmanov N. A.) 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 4 of this resolution.

4. 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.

5. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Smolyakov O. A.

6. This resolution becomes effective after ten calendar days after day of its first official publication.

Chairman of National Bank

D. Akishev

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of March 27, 2018 No. 62

Rules of implementation of classification of assets and contingent obligations on the provided microcredits, references of assets on the provided microcredits to doubtful and hopeless, and also creations of provisions (reserves) against them

Chapter 1. General provisions

1. These rules of implementation of classification of assets and contingent obligations on the provided microcredits, references of assets on the provided microcredits to doubtful and hopeless, and also creations of provisions (reserves) against them (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 November 26, 2012 "About microfinancial activities" (further - the Law) and establish procedure of classification of assets and contingent obligations on the provided microcredits, references of assets on the provided microcredits to doubtful and hopeless, and also creations of provisions (reserves) against them. Rules extend to the microfinancial organizations performing the activities according to the subitem 3) of Item 1-1 of article 3 of the Law (further - the microfinancial organization).

2. In Rules the following concepts are used:

Short-reception of money - difference between the cash flows which are due to the microfinancial organization according to the agreement on provision of the microcredit and cash flows which the microfinancial organization expects to receive 1);

2) debt - the amount outstanding the borrower of the requirement in the form of principal debt, the added remuneration and (or) other payments in accordance with the terms of the agreement on provision of the microcredit;

3) uniform assets and contingent obligations on the provided microcredits - group of assets and contingent obligations on the provided microcredits with similar characteristics of credit risk;

4) individual assets and contingent obligations on the provided microcredits - assets and contingent obligations on the provided microcredits which gross carrying amount on reporting date exceeds 5 (five) percent from assets of the microfinancial organization, according to data of the financial reporting or asset and contingent obligation on the provided microcredit which represents the requirement to the interconnected party.

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