THE RESOLUTION OF BOARD OF THE AGENCY OF THE REPUBLIC OF KAZAKHSTAN ON REGULATION AND DEVELOPMENT OF THE FINANCIAL MARKET

of March 22, 2020 No. 17

About measures of support of the population and subjects of entrepreneurship during emergency state

According to the subitem 3) Item 1 of the Presidential decree of the Republic of Kazakhstan of March 16, 2020 No. 286 "About measures for ensuring social and economic stability" in connection with introduction by the Presidential decree of the Republic of Kazakhstan of March 15, 2020 No. 285 of emergency state in all territory of the Republic of Kazakhstan and introduction of measures and temporary restrictions concerning the population and subjects of entrepreneurship, for the purpose of non-admission of deterioration in their financial condition, Board of the Agency of the Republic of Kazakhstan on regulation and development of the DECIDES: financial market

1. For action of emergency state the banks, the organizations performing the separate types of banking activities, the organizations performing microfinancial activities:

1) do not charge remuneration under agreements of bank loan and (or) microcredit of physical persons under which the delay of payment on principal debt and (or) remuneration constitutes over 90 (ninety) calendar days.

The requirement of this subitem does not extend to the agreement of bank loan and (or) microcredit if for date of its conclusion the amount of principal debt was completely provided with pledge of the property which is subject to registration and (or) pledge of money;

2) is not charged by penalties and penalty fee on delay of payments on principal debt and (or) remuneration under agreements of bank loan and (or) microcredit:

to physical persons;

to legal entities whose financial condition worsened as a result of introduction of emergency state;

3) grant delay on payments under agreements of bank loan and (or) microcredit, including payments on principal debt and (or) remuneration, for a period of up to 90 (ninety) calendar days to individual entrepreneurs and subjects of small and medium business whose financial condition worsened as a result of introduction of emergency state;

4) carry out financial analysis of borrowers physical persons and make decisions on additional terms of support, including in the form of payment deferral under agreements of bank loan and (or) microcredit, including payments on principal debt and (or) remuneration, the physical persons who lost place of employment or other sources of the income, and also experiencing other financial difficulties.

The requirement of this subitem extends to the agreements of bank loan and (or) microcredit signed till March 18, 2020.

2. Concerning physical persons of measure, specified in subitems 1) and 2) of Item 1 of this resolution, are applied by the banks, the organizations performing separate types of banking activities, the organizations performing microfinancial activities, unilaterally without the need for filing of application from borrowers.

3. The measures specified in subitems 2) and 3) of Item 1 of this resolution (concerning individual entrepreneurs and legal entities), and also the measures specified in the subitem 4) of Item 1 of this resolution are applied by the banks, the organizations performing separate types of banking activities, the organizations performing microfinancial activities in individual procedure based on the written application of the borrower.

The application is submitted by the borrower to bank, the organization performing separate types of banking activities, the organization performing microfinancial activities including, by means of e-mail, the bank client online system, Internet resource, mobile application or other means of communication.

In the course of consideration of the application the bank, the organization performing separate types of banking activities, the organization performing microfinancial activities if necessary request the documents confirming deterioration in financial condition of the borrower as a result of introduction of emergency state.

Results of consideration of the application are led up bank, the organization performing separate types of banking activities, the organization performing microfinancial activities, to the borrower according to the procedure and terms, established by their internal documents.

4. To provide to department of consumer protection of financial services:

1) together with Legal department state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) placement of this resolution on official Internet resource of the Agency of the Republic of Kazakhstan on regulation and development of the financial market after its official publication;

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

5. To management of the international relations and external communications to 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 First Deputy Chairman of the Agency of the Republic of Kazakhstan on regulation and development of the financial market Smolyakov O. A.

7. This resolution becomes effective from the date of its first official publication.

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