of August 31, 1995 No. 2444
About banks and banking activity in the Republic of Kazakhstan
1. Bank - the legal entity, being the commercial organization which according to this Law is competent to perform banking activity.
2. The official status of bank is determined by state registration (re-registration) of the legal entity as bank in The Government for Citizens State corporation (further - Corporation) and availability of the license of authorized body by regulation, control and supervision of the financial market and the financial organizations (further - authorized body) on carrying out banking activities.
3. Any legal entity who does not have the official status of bank cannot hereinafter be referred to as as "bank" or characterize itself as engaged in banking activity.
4. The location of bank the location (postal address) of its board is recognized.
In this Law the following basic concepts are used:
1) control - opportunity to determine decisions of the legal entity, arising in the presence of one of the following conditions:
immediate or indirect possession by one person independently or together with one or several persons in more than fifty percent of shares in the authorized capital or placed (less exclusive and redeemed by society) shares or opportunity availability to vote independently in more than fifty percent of shares;
opportunity availability at one person independently to choose at least a half of structure of governing body or executive body of the legal entity;
inclusion of the financial reporting of the legal entity, except for the financial reporting of the special finance company created according to the legislation of the Republic of Kazakhstan on project financing and securitization in the financial reporting of other legal entity according to the audit report;
availability of possibility of one person independently or together with one or several persons to determine decisions of the legal entity owing to the agreement (supporting documents) or otherwise in the cases provided by regulatory legal act of authorized body;
1-1) electronic trading platforms selling bank and microfinancial assets - the Internet resource providing infrastructure to participants for tendering, operating according to the Law of the Republic of Kazakhstan "About state regulation, control and supervision of the financial market and the financial organizations";
2) indirect possession (vote) by bank shares - opportunity to determine decisions of bank, the large member of bank, bank holding or persons who jointly are the large member of bank, bank holding through shareholding (shares in the authorized capital) legal entities;
2-1) interbank clearing - assembly, reconciliation, sorting and payment confirmation, and also carrying out their offset and determination of net line items of participants of clearing - the banks and the organizations performing separate types of banking activities;
3) banking conglomerate - the group of legal entities consisting of bank holding (in the presence) and bank, and also the affiliated organizations of bank holding and (or) the affiliated organizations of bank, and (or) the organizations in which the bank holding and (or) its affiliated organizations, and (or) bank have considerable equity participation.
The national managing holding, bank nonresident holding of the Republic of Kazakhstan, and also the affiliated organizations and the organizations in which the bank nonresident holding of the Republic of Kazakhstan has considerable equity participation, being nonresidents of the Republic of Kazakhstan are not part of banking conglomerate;
3-1) subordinated debt of bank - the unsecured obligation of bank on the issued bonds or the obtained loan corresponding to conditions, the stipulated in Article 16-1 this Law;
3-2) information system of bank or the organization performing separate types of banking activities (further - information system), - the system intended for storage, processing, search, distribution, transfer and provision of information using the hardware and software by means of which banking and other services are provided;
4) bank holding - the legal entity (except as specified when such owner is the state or national managing holding, the organization specializing in improvement of quality of credit portfolios of banks of the second level, the affiliated organizations of National Bank of the Republic of Kazakhstan, and also the cases provided by this Law) who according to written consent of authorized body can own directly or indirectly twenty five or more percent placed (less exclusive and redeemed by bank) bank shares or to have opportunity:
vote directly or indirectly in twenty five or more percent of voting shares of bank;
determine the decisions made by bank owing to the agreement or otherwise or have control;
5) regulatory equity (further - equity) bank - capital sum less investments of bank;
6) the large member of bank - physical person or legal entity (except as specified when such owner is the state or national managing holding, the organization specializing in improvement of quality of credit portfolios of banks of the second level, the affiliated organizations of National Bank of the Republic of Kazakhstan, and also the cases provided by this Law) which according to written consent of authorized body can own directly or indirectly ten or more percent placed (less exclusive and redeemed by bank) bank shares or to have opportunity:
vote directly or indirectly in ten or more percent of voting shares of bank;
exert impact on the decisions made by bank owing to the agreement or otherwise according to the procedure, determined by regulatory legal act of authorized body;
7) the parent organization - the legal entity who has control over other legal entity;
8) the deposit - the money transferred by one person (depositor) to other person - to bank, including National Bank of the Republic of Kazakhstan and the National operator of mail, on the terms of their return in nominal terms (except for the investment deposit in Islamic bank) irrespective of whether they shall be returned on the first demand of or through any term, completely or in parts with in advance stipulated allowance or without that directly to the depositor or is transferred according to the order to the third parties;
9) the affiliated organization - the legal entity in relation to whom other legal entity has control;
10) indirect possession by shares in the authorized capital or ownership (vote) of shares of the legal entity - opportunity to determine decisions of the legal entity, the large member of the legal entity or persons who jointly are the large member of the legal entity through ownership (vote) of shares (shares in the authorized capital) other legal entities;
11) the large member of the legal entity - physical person or legal entity (except as specified when such owner is the state or national managing holding) which owns directly or indirectly ten or more percent of shares in the authorized capital or voting shares of the legal entity;
12) considerable equity participation is ownership directly or indirectly, independently or together with one or several persons in twenty and more percent of voting shares (shares in the authorized capital) or availability of opportunity to vote in twenty and more percent of shares;
12-1) specialized industry bank - bank of the second level which activities are regulated by the separate legal act of the Republic of Kazakhstan;
12-2) termless financial instrument - the unsecured obligation of bank on the issued bonds or the obtained loan corresponding to conditions, the stipulated in Article 16-2 presents of the Law;
13) faultless goodwill - availability of the facts confirming professionalism, conscientiousness, lack of not removed or unspent conviction, including lack of the judgment which took legal effect about application of criminal penalty in the form of deprivation of the right to hold leading employee position of the financial organization, bank and (or) insurance holding and to be large member (large shareholder) of the financial organization for life;
13-1) service company - the affiliated organization of bank acquiring the doubtful and bad assets of parent bank, the collection agency having within the trust management agreement rights (requirements) for agreements of bank loan and (or) to agreements on provision of the microcredit (further - the trust management agreement of the rights (requirements), concluded with person specified in part one of item 4 of article 36-1 of this Law and (or) part one of Item 5 of article 9-1 of the Law of the Republic of Kazakhstan "About microfinancial activities", powers on trust management of the rights (requirements) for agreements of bank loan and (or) agreements on provision of the microcredit, including on change of terms of the contract of bank loan and (or) the agreement on provision of the microcredit, on representation of interests of person with which the trust management agreement of the rights (requirements), in court is signed on acceptance from the debtor of money and (or) other property, and other powers provided by this Law, other laws of the Republic of Kazakhstan and the trust management agreement of the rights (requirements);
13-2) insolvent bank - the bank referred by the decision of authorized body to category of insolvent banks according to this Law;
14) stabilization bank - the bank of the second level created according to the decision of authorized body for the purposes of implementation of transaction on transfer of assets and obligations of the bank which is in conservation regime. Features of creation, activities of stabilization bank are established by this Law;
15) consumer bank loan - the bank loan which is not mortgage housing loan (mortgage loan), provided to physical person on purchase of goods, works, services and (or) other purposes which are not connected with implementation of business activity.
1. Affiliates of bank are persons determined by article 64 of the Law of the Republic of Kazakhstan "About joint-stock companies" and also members of banking conglomerate.
If other is not established by this Article, availability of sign of the large shareholder of bank at national managing holding is not the basis for determination of affiliates of bank according to article 64 of the Law of the Republic of Kazakhstan "About joint-stock companies".
2. If other is not established by this Article, affiliates of bank which large shareholder is the national managing holding, the national managing holding or legal entities whose hundred percent of voting shares (shares) belong to national managing holding according to the list approved by authorized body on state planning and also officials of national managing holding and the above-stated legal entities are not.
Availability in shareholding structure of data of banks of national managing holding is not the basis for recognition of banks affiliated on the relation to each other.
3. Item part two provisions 1, and also Item 2 of this Article are not considered for the purposes of the tax legislation of the Republic of Kazakhstan and the legislation of the Republic of Kazakhstan on transfer pricing.
4. Affiliates of branch of nonresident bank of the Republic of Kazakhstan the affiliates of nonresident bank of the Republic of Kazakhstan recognized by those according to the legislation of the state which resident is the nonresident bank of the Republic of Kazakhstan are recognized.
The branch of nonresident bank of the Republic of Kazakhstan records the affiliates based on the data represented by nonresident bank of the Republic of Kazakhstan.
1. The Republic of Kazakhstan has dual banking.
2. The National Bank of the Republic of Kazakhstan is Central Bank of the state and represents the top (first) level of bank system.
Tasks, the principles of activities, legal status and powers of National Bank of the Republic of Kazakhstan are determined by the Law of the Republic of Kazakhstan "About National Bank of the Republic of Kazakhstan" and other laws of the Republic of Kazakhstan.
The National Bank of the Republic of Kazakhstan performs regulation, and also along with the department control and supervision on single questions of banking activity within the competence and promotes creation of general terms for functioning of the banks and organizations performing separate types of banking activities.
The regulating, control and supervising functions of National Bank of the Republic of Kazakhstan within competence of the relation of the banks and organizations performing separate types of banking activities are directed to maintenance of stability of monetary and credit system of the Republic of Kazakhstan, protection of interests of creditors of banks, their investors and clients.
3. All other banks represent the lower (second) level of bank system except for of Development bank of Kazakhstan having the special legal status determined by the legal act of the Republic of Kazakhstan.
4. It is excluded
5. Bank with foreign participation - bank of the second level which more than one thirds of placed shares are in ownership, property and/or management:
a) nonresidents of the Republic of Kazakhstan;
b) legal entities - residents of the Republic of Kazakhstan, more than fifty percent of placed shares or shares in the authorized capital of which are in ownership, property and/or management of nonresidents of the Republic of Kazakhstan or legal entities similar to them - residents of the Republic of Kazakhstan;
c) the residents of the Republic of Kazakhstan which are managers of means (authorized representatives) of nonresidents of the Republic of Kazakhstan or the legal entities specified in the subitem) this Item.
5-1. Islamic bank - the bank of the second level performing the banking activity provided by Chapter 4-1 of this Law based on the license of authorized body.
The Islamic bank is not participant of system of obligatory guaranteeing deposits, and deposits in Islamic bank are not guaranteed by system of obligatory guaranteeing deposits. Islamic banks have the right to create the non-profit organization in form of business of joint-stock company guaranteeing return of the deposits attracted with Islamic banks.
Features of creation and activities of Islamic bank are established by Chapter 4-1 of this Law.
6. Interstate bank - the bank created and which is acting on the basis of the international treaty (agreement) which founders are the Government of the Republic of Kazakhstan (or the state body authorized by it) and the government (governments) of the state (states) which signed this agreement (agreement).
7. Creation in the Republic of Kazakhstan of specialized industry banks with participation of the state, except for "Housing Construction Savings Bank of Kazakhstan" joint-stock company, is not allowed.
1. The bank law of the Republic of Kazakhstan is based on the Constitution of the Republic of Kazakhstan, consists of this Law and other regulatory legal acts of the Republic of Kazakhstan.
2. If the international treaty ratified by the Republic of Kazakhstan establishes other rules, than those which are provided by this Law then are applied rules of the international treaty.
1. Branch of nonresident bank of the Republic of Kazakhstan is the separate division of nonresident bank of the Republic of Kazakhstan, not being the legal entity, located in the territory of the Republic of Kazakhstan, undergone accounting registration in Corporation and performing banking activity based on the license of authorized body.
2. The branch of nonresident bank of the Republic of Kazakhstan uses that which is specified in regulations on branch of nonresident bank of the Republic of Kazakhstan as the name.
The branch of nonresident bank of the Republic of Kazakhstan in the name shall use the name of nonresident bank of the Republic of Kazakhstan, and also the word "branch".
3. The location of branch of nonresident bank of the Republic of Kazakhstan the location in the territory of the Republic of Kazakhstan specified in regulations on branch of nonresident bank of the Republic of Kazakhstan is recognized.
If other is not established by this Law, the organization performing separate types of banking activities the legal entity, not being bank which based on the license of authorized body or National Bank of the Republic of Kazakhstan or according to the laws of the Republic of Kazakhstan is competent to carry out separate types of the banking activities provided by this Law is recognized.
1. The government of the Republic of Kazakhstan is the single shareholder of the organization specializing in improvement of quality of credit portfolios of banks of the second level.
2. The organization specializing in improvement of quality of credit portfolios of banks of the second level, having the right to perform the following types of activity in case of which realization emergence of losses is possible:
1) to issue shares for forming of the authorized capital, and also the bond for financing of own activities;
2) to redeem own placed shares and bonds;
3) to make quality evaluation of assets, the rights of requirements of the banks and (or) legal entities which were earlier banks for the purpose of decision making about their acquisition;
To acquire 4) at National Bank of the Republic of Kazakhstan and banks doubtful and bad assets, other rights to claim and assets, to manage them, including by transfer to trust management, to own and realize them.
In case of transition of the rights (requirements) from National Bank of the Republic of Kazakhstan to the organization specializing in improvement of quality of credit portfolios of banks of the second level, the consent of the borrower, pledger, guarantor and other persons to such transition is not required;
5) to make quality evaluation of the shares and (or) bonds issued by banks and (or) placed by the banks, legal entities which were earlier banks;
6) to acquire shares and (or) shares in the authorized capital of legal entities, including legal entities, the rights of requirements to whom are acquired at the banks and (or) legal entities which were earlier banks, to manage them, including by transfer to trust management, to own and realize them;
7) to acquire the shares and (or) bonds issued and placed by banks, to manage them, including by transfer to trust management, to own and realize them;
8) to provide in property employment (lease) the property acquired and (or) received at the banks and (or) legal entities which were earlier banks or to use other form of paid temporary use by such property, to deliver it in trust management;
9) to make transactions on securitization of the rights of the requirements and other assets acquired at the banks and (or) legal entities which were earlier banks;
10) independently, and also together with banks to create (to acquire) the organization acquiring doubtful and bad assets;
To acquire 11) at legal entities, earlier being banks, the rights of requirements and assets, including shares and (or) shares in the authorized capital of legal entities, to contain, ensure safety, to manage them, including by transfer to trust management, to own and realize them.
If as a result of the transaction provided in paragraph one of this subitem the property on the amount ten and more percent from the size of assets of the organization specializing in improvement of quality of credit portfolios of banks of the second level is acquired, that decision on the conclusion of such transaction is made by the shareholder of this organization.
If as a result of the transaction provided in paragraph one of this subitem there is transition of the rights (requirements) of the creditor, the consent of the borrower, the pledger, the guarantor and other persons on such transition is not required. At the same time the identity of the new creditor is recognized not having for the debtor of essential value;
12) to place money in securities and other financial instruments, and also in banks of the second level, National Bank of the Republic of Kazakhstan and organization specified in Item 8 of article 61-4 of this Law on the terms of bank account agreements and bank deposit;
13) to perform financing on the terms of the paid nature, urgency and recoverability of the banks and (or) legal entities which were earlier banks;
14) to acquire services of the organizations for the questions connected with improvement of quality of credit portfolios of banks of the second level;
15) to enable the realization of the special programs developed and approved by the Government of the Republic of Kazakhstan and (or) National Bank of the Republic of Kazakhstan;
15-1) to carry out debt restructuring on assets, including the rights (requirements), to write off and cancel fully or partially the main are long (or) remuneration, the commissions, penalty (penalties, penalty fee), other debt to manage assets and to realize them, to recognize the possible losses resulting from the specified actions;
16) other types of activity established by the Government of the Republic of Kazakhstan.
The procedure the organization specializing in improvement of quality of credit portfolios of banks of the second level, the types of activity provided by this Item and also requirements to acquired (acquired) by it to assets and to the rights to claim is established by regulatory legal act of the single shareholder.
The organization specializing in improvement of quality of credit portfolios of banks of the second level for the rights to claim yielded to it under agreements of bank loan is recognized the creditor (creditor) on banking loan activity and has all rights and obligations established by the agreement of bank loan.
The organization specializing in improvement of quality of credit portfolios of banks of the second level has the right to attract the collection agencies to collection and concession of the rights of requirements for bank loans with delay of obligation fulfillment under the agreement of bank loan over ninety consecutive calendar days, and also to turn collection in indisputable procedure on the money which is on bank accounts of the borrower by presentation of payment request according to Item 2 of article 36 of this Law.
3. The organization specializing in improvement of quality of credit portfolios of banks of the second level on implementation of the types of activity specified in Item 2 of this Article having the right to receive target transfer from the budget.
1. Any person which does not have the corresponding license of authorized body or National Bank of the Republic of Kazakhstan has no right:
1) to carry out banking activities as the main or additional activities;
To use 2) in the name, documents, announcements and advertizing the word "bank" or the word (expression), derivative of it, making impression that it carries out banking activities. This prohibition does not extend to authorized body National Bank of the Republic of Kazakhstan, branches and representative offices of banks, the organizations specified in Item 8 of article 61-4 of this Law, international financial institutions.
2. The banking activities performed without license of authorized body or National Bank of the Republic of Kazakhstan are invalid, except for the activities (transactions) which are carried out by the state body, the National operator of mail, the organizations specified in Item 8 of article 61-4 of this Law and also Development bank of Kazakhstan within the powers fixed by this Law and other laws of the Republic of Kazakhstan.
1. Banks do not answer for obligations the state, as well as the state does not answer for their obligations, except the cases specified in Item 2 of this Article, and also cases when banks or the state assume such responsibility.
2. The state guarantees safety of the deposits accepted by interstate resident banks of the Republic of Kazakhstan and answers for their obligations in proportion to share of the Government of the Republic of Kazakhstan in (or the state body authorized by it) in the authorized capital of such banks.
3. Intervention in any form of state bodies and their officials in activities of banks, except cases, directly stipulated by the legislation the Republic of Kazakhstan is forbidden.
1. Implementation of the transactions and transactions as business activity which are not belonging to banking activity or not stipulated in Item the 9th this Article and Item 12 of article 30 of this Law and also acquisition of shares in the authorized capital or shares of legal entities, creation and participation in activities of non-profit organizations, except for memberships in National chamber of entrepreneurs of the Republic of Kazakhstan, and also the cases established by this Law and implementation of security transactions in cases, stipulated in Item the 8th this Article are forbidden banks.
2. Implementation of transactions and transactions as business activity, and also acquisition of shares in the authorized capital or shares of legal entities, creation and participation in activities of non-profit organizations, except for memberships in National chamber of entrepreneurs of the Republic of Kazakhstan, and also the cases established by this Law and implementation of security transactions in cases, stipulated in Item the 8th this Article are forbidden bank holdings.
3. The prohibition established by Items 1 and 2 of this Article does not extend to the following cases of creation, and also share acquisition or share in the authorized capital
the financial organizations, and also the legal nonresident persons of the Republic of Kazakhstan having the status of banks, insurance companies, pension funds, professional participants of the security market, payment institutes in the amount of ten or more percent from placed (less exclusive and redeemed by society) shares (shares in the authorized capital);
legal entities in the amount of less than ten percent from placed (less exclusive and redeemed by society) shares (shares in the authorized capital) on condition of compliance of the acquired shares (shares in the authorized capital) to requirements of regulatory legal act of authorized body;
the affiliated special nonresident organizations of the Republic of Kazakhstan created for the purpose of release and securities placement under guarantee of bank;
the subsidiary special finance companies created for transactions of securitization according to the legislation of the Republic of Kazakhstan on project financing and securitization;
the resident organizations of the Republic of Kazakhstan acquiring doubtful and bad assets, created (acquired) together with the organization specializing in improvement of quality of credit portfolios of banks of the second level;
the affiliated resident organizations of the Republic of Kazakhstan acquiring doubtful and bad assets of parent bank;
the affiliated organizations which exclusive activities is collection of banknotes, coins and values;
the organizations rendering services of the operator of electronic payment system;
the affiliated organizations performing leasing activities;
the organizations rendering services in ensuring information, telecommunication and technological interaction between participants of calculations for banking activity including calculations for transactions with payment cards;
the organizations performing activities for the certificate of compliance of open key of the digital signature to the closed key of the digital signature, and also for confirmation of reliability of the registration certificate;
the legal entities specified in article 10 of this Law;
legal entities, when the shares accepted as pledge or share in the authorized capital of these organizations carry over banks according to the civil legislation of the Republic of Kazakhstan and the legislation of foreign state;
the stock exchanges and the central depositary performing activities in the territory of the Republic of Kazakhstan;
the organizations specified in Item 8 of article 61-4 of this Law;
credit bureaus;
the organizations (residents and nonresidents of the Republic of Kazakhstan) rendering services in provision of possibility of rendering financial and (or) payment services with use of artificial intelligence, blokcheyn and other innovative technologies;
the organizations (residents and nonresidents of the Republic of Kazakhstan) rendering services in provision of possibility of transactions in rendering financial services between the financial organizations or issuers and consumers of financial services with use of information system by means of the Internet;
the organizations (residents and nonresidents of the Republic of Kazakhstan) performing development, realization, support of the software used in activities of the financial organizations including for automation of their activities;
other legal entities - when implementing by Islamic bank of the banking activity provided by Chapter 4-1 of this Law;
financial organizations;
the resident organizations of the Republic of Kazakhstan acquiring doubtful and hopeless requirements of banks of the second level for management of them and (or) their subsequent realization, restructuring and (or) securitization;
the special nonresident organizations of the Republic of Kazakhstan created for the purpose of release and securities placement under guarantee of bank holding;
the special finance companies created for transactions of securitization according to the legislation of the Republic of Kazakhstan on project financing and securitization;
the organizations which exclusive activities is collection of banknotes, coins and values, implementation of leasing activities;
the organizations rendering services in ensuring information, telecommunication and technological interaction between participants of calculations for banking activity including calculations for transactions with payment cards;
the legal nonresident persons of the Republic of Kazakhstan having the status of banks, insurance companies, pension funds, professional participants of the security market;
the organizations specified in Item 8 of article 61-4 of this Law;
the organizations (residents and nonresidents of the Republic of Kazakhstan) rendering services in provision of possibility of rendering financial and (or) payment services with use of artificial intelligence, blokcheyn and other innovative technologies;
the organizations (residents and nonresidents of the Republic of Kazakhstan) rendering services in provision of possibility of transactions in rendering financial services between the financial organizations or issuers and consumers of financial services with use of information system by means of the Internet;
the organizations (residents and nonresidents of the Republic of Kazakhstan) performing development, realization, support of the software used in activities of the financial organizations including for automation of their activities.
The requirements established by paragraphs the eighteenth, nineteenth and twentieth the subitem 1) and paragraphs the tenth, eleventh and twelfth the subitem 2) of part one of this Item extend to creation cases, and also acquisitions by banks and bank holdings of shares or shares in the authorized capital of the organizations - nonresidents of the Republic of Kazakhstan in the presence of the agreement between authorized body and the relevant supervisory authority of foreign state on exchange of information.
The affiliated organizations of bank, except as specified, the stipulated in Article 11-2 presents of the Law having the right to acquire only shares or shares in the authorized capital of the legal entities conforming to the requirements established by regulatory legal act of authorized body. The affiliated insurance (reinsurance) organizations of bank including have the right to acquire shares of the organization guaranteeing implementation of insurance payments to insurers (insured, to beneficiaries) in case of involuntary liquidation of insurance companies, and the organization for forming and maintaining the database.
The affiliated organizations of bank holding have the right to acquire only shares or shares in the authorized capital of the legal entities conforming to the requirements established by regulatory legal act of authorized body. The affiliated insurance (reinsurance) organizations of bank holding including have the right to acquire shares of the organization guaranteeing implementation of insurance payments to insurers (insured, to beneficiaries) in case of involuntary liquidation of insurance companies, and the organization for forming and maintaining the database. This requirement does not extend on:
affiliated resident banks of the Republic of Kazakhstan;
legal entities in whom the bank holding is the parent organization through ownership (availability of opportunity to vote, determine decisions and (or) to exert impact on the made decisions owing to the agreement or otherwise) shares of the resident bank of the Republic of Kazakhstan who is directly owning (having opportunity to vote, determine decisions and (or) to exert impact on the made decisions owing to the agreement or otherwise) of shares or shares in the authorized capital of the specified legal entities;
nonresidents of the Republic of Kazakhstan who are the affiliated organizations of nonresidents of the Republic of Kazakhstan, being bank holding, in case of accomplishment of one of the following conditions:
availability at bank holding of individual credit rating not below rating And one of rating agencies which list is determined by authorized body, and also the written confirmation from body of financial supervision of country of source of specified persons that they are subject to the consolidated supervision;
availability of the agreement between authorized body and the relevant supervisory authority of foreign state about exchange of information, and also the minimum required rating of one of rating agencies. The minimum rating and the list of rating agencies are established by regulatory legal act of authorized body.
4. Acquisition of shares by bank in the authorized capital or shares of the legal entities specified in the subitem 1) of Item 3 of this Article shall not exceed on one legal entity of ten percent of equity of bank. This restriction extends to ownership of bank of shares in the authorized capital or shares of the specified legal entities, including in cases of their creation.
The restriction set in part one of this Item does not extend to banks in connection with acquisition of control by them over other bank concerning which restructuring according to this Law was carried out.
The restriction set in part one of this Item does not extend to banks in connection with acquisition of control by them over other bank:
concerning which restructuring according to this Law was carried out;
performed transaction, the stipulated in Article 61-4 presents of the Law.
5. Acquisition and ownership of bank in the amount of ten or more percent from placed (less exclusive and redeemed by society) shares or shares in the authorized capital of the financial organizations, and also the legal nonresident persons of the Republic of Kazakhstan having the status of banks, insurance companies, pension funds, professional participants of the security market are allowed on condition of accomplishment of the additional requirements by bank to the minimum sufficiency of equity established by regulatory legal act of authorized body. This requirement extends to cases of creation by bank of the specified legal entities.
6. The cumulative share fraction (share in the authorized capital) the parent organization of banking conglomerate, bank or bank holding belonging to the affiliated organizations of bank or bank holding, the organizations in which the bank or bank holding have considerable equity participation shall not exceed the limits determined by regulatory legal act of authorized body.
7. In case of acquisition by banks of shares or shares in the authorized capital of legal entities in cases when the shares accepted as pledge or share in the authorized capital of these organizations carry over banks according to the civil legislation of the Republic of Kazakhstan and the legislation of foreign state, participation of bank in such legal entities shall not exceed ten percent of equity of bank.
The term of implementation of shares or shares in the authorized capital shall be no more than twelve months, except as specified:
transfers of the shares or shares accepted by bank as pledge in the authorized capital of these organizations of the affiliated organization of bank created (acquired) on the conditions determined by article 11-2 of this Law;
transition to property of bank of the shares or shares accepted as pledge in the authorized capital of the organizations specified in the subitem 1) of Item 3 of this Article.
The restrictions set by this Item extend to the affiliated organizations of banks, except for the affiliated organization of bank created (acquired) on the conditions determined by article 11-2 of this Law.
7-1. The bank shall realize by tendering on electronic trading platform selling bank and microfinancial assets the following property:
the mortgage property which was earlier ensuring obligation fulfillment under the agreement of bank loan, carried over bank as a result of the address of collection on it;
the property which arrived in property of bank as a result of receipt of compensation by bank instead of obligation fulfillment under the agreement of bank loan.
The requirement established by part one of this Item does not extend to the dwelling leased by bank according to the subitem 14) of Item 9 of this Article with condition of its redemption.
The property specified in part one of this Item shall be realized by bank within three years from the date of its transition to property of bank, except for:
the parcel of land which term of realization is determined taking into account the features provided by the Land code of the Republic of Kazakhstan;
the dwelling leased by bank according to the subitem 14) of Item 9 of this Article without condition of its redemption which term of realization is prolonged in proportion to lease term.
The requirements established by parts one, second and third this Item extend to the organizations performing separate types of banking activities, and the affiliated organizations of banks acquiring doubtful and bad assets of parent bank.
Requirements of this Item do not extend to cases of transition to property of banks of shares or shares in the authorized capital of legal entities, stipulated in Item the 7th this Article.
The property specified in part one of this Item in case of recognition of the biddings by cancelled can be realized by carrying out direct address sale according to the rules of tendering on electronic trading platform selling bank and microfinancial assets approved by regulatory legal act of authorized body.
8. The prohibition established by Items 1 and 2 of this Article does not extend to acquisition cases in property:
bonds of international financial institutions which list is established by authorized body;
the bonds conforming to the requirements established by regulatory legal act of authorized body;
bonds of the special finance company which is the affiliated organization of bank or the bank holding created according to the legislation of the Republic of Kazakhstan on project financing and securitization, issued within implementation of the transaction of securitization between bank or bank holding and special finance company;
own bonds bank or bank holding and the bonds issued by the affiliated organizations of this bank or bank holding on which obligations are guaranteed by bank or bank holding. The procedure for transactions with such bonds is determined by regulatory legal act of authorized body.
The restrictions set by this Article do not extend to cases of acquisition by bank, bank holding of the bonds which in exchange are earlier acquired of the organizations which are in process of restructuring on condition of inclusion of obligations on earlier issued bonds in the list of the re-structured obligations of this organization.
9. In addition to the activities specified in Item 1 of this Article, banks have the right to be engaged in the following types of activity:
1) development, realization and support of the specialized software used for automation of activities of the banks and organizations performing separate types of banking activities, or other software used in activities of the financial organizations;
2) realization of special literature concerning banking activity on any kinds of data carriers;
3) realization of own property;
4) release, realization and distribution of payment cards and checkbooks;
5) implementation of interbank clearing;
6) release, realization, acquisition and repayment of electronic money, and also provision of services on data collection and processing on transactions with electronic money;
7) realization in the procedure for the property pledged by borrowers established by legal acts of the Republic of Kazakhstan and the property received in the form of compensation instead of obligation fulfillment under the agreement of bank loan;
8) provision of consulting services in the questions connected with financial activities;
9) representation of interests of other persons on the questions connected with banking activity or as the representative of bondholders;
9-1) implementation of intermediary services between the payer and the supplier of goods, works and services by servicing service provision, including possibility of obtaining and remote payment of goods, works and services with use of systems, programs, infrastructures of bank when the payment can be made by non-cash method;
9-2) rendering services in management of the account (accounts) of the depositor opened (opened) in the central depositary addressed to the depositor;
10) the organization of training in advanced training of specialists in the field of banking and financial activities;
11) according to the certificate of compliance of open key of the digital signature to the closed key of the digital signature, and also on confirmation of reliability of the registration certificate concerning the clients using its banking services in the presence of the license of authorized body in the sphere of informatization;
12) the conclusion of insurance contracts on behalf of the insurance organizations - residents of the Republic of Kazakhstan in the presence of the contract between bank and insurance companies - residents of the Republic of Kazakhstan on the conclusion from their name of insurance contracts;
To lease 13) to the affiliated organizations own property according to the agreement of property hiring (lease);
To hand over 14) based on the agreement of property hiring (lease) in lease, including with redemption condition, the dwelling which carried over bank.
Only physical persons belonging to socially vulnerable segments of the population according to the Law of the Republic of Kazakhstan "About the housing relations" which dwelling carried over bank as a result of the address of collection on it in connection with non-execution or improper execution of agreement obligations by them of mortgage housing loan (mortgage loan) or provision of compensation by them in the form of the dwelling acting as pledge under the agreement of mortgage housing loan (mortgage loan) can act as lessees of the dwelling specified in part one of this subitem;
15) to participate in syndicated financing and (or) to perform functions of agent bank and (or) the managing director of pledge according to the legislation of the Republic of Kazakhstan on project financing and securitization.
10. In addition to the activities specified in Item 2 of this Article, bank holdings have the right to be engaged in the following types of activity:
1) purchase of the property from the face which is not tied with bank holding the special relations, acquired for own needs;
2) provision of consulting services in the questions connected with financial activities;
3) sale of own property.
11. Release of "golden share" is forbidden to banks and bank holdings.
12. Transactions with government securities and non-state securities in the secondary market, and also with derivative financial instruments consist banks only in the organized market of the securities, except as specified, established by regulatory legal act of authorized body.
13. Requirements of this Article do not extend on:
1) bank holdings of Islamic banks;
2) the bank holdings indirectly owning (having opportunity to vote, determine decisions and (or) to exert impact on the made decisions owing to the agreement or otherwise) bank shares through ownership (availability of opportunity to vote, determine decisions and (or) to exert impact on the made decisions owing to the agreement or otherwise) shares or shares in the authorized capital of the bank resident holding of the Republic of Kazakhstan which is directly owning (having opportunity to vote, determine decisions and (or) to exert impact on made decisions owing to the agreement or otherwise) of shares of the specified bank;
3) nonresidents of the Republic of Kazakhstan, being the bank holding, person having signs of bank holding in case of accomplishment of one of the following conditions:
availability of individual credit rating is not lower than rating And one of rating agencies which list is determined by authorized body, and also the written confirmation from body of financial supervision of country of source of bank holding, person having signs of bank holding, that the specified nonresident persons of the Republic of Kazakhstan are subject to the consolidated supervision;
availability of the agreement between authorized body and the relevant supervisory authority of foreign state about exchange of information, and also the minimum required rating of one of rating agencies. The minimum rating and the list of rating agencies are established by regulatory legal act of authorized body.
4) bank holdings - the residents of the Republic of Kazakhstan which are the financial organizations;
5) banks in connection with acquisition of shares of other bank or other securities which holder is other bank, or share in the authorized capital of the legal entities belonging to other bank when carrying out reorganization by them in the form of accession according to the procedure determined by the legislation of the Republic of Kazakhstan, or transaction, the stipulated in Article 61-4 presents of the Law by them.
14. Implementation of transactions and transactions as the business activity which is not relating to banking activity, stipulated in Item 2-1 Article 30 and item 4 of article 52-5 of this Law, and also the activities provided by the subitem 2) of Item 10 of this Article is forbidden to branches of nonresident banks of the Republic of Kazakhstan.
1. The bank has no right to issue bank loans and bank guarantees to persons, related the special relations determined according to article 40 of this Law, except for:
the bank loans and bank guarantees provided to persons who are members of banking conglomerate;
the bank loans and bank guarantees having providing which amount and type conform to the requirements established by regulatory legal act of authorized body;
the bank loans and bank guarantees provided to persons which do not have the signs of unstable financial position determined by regulatory legal act of authorized body.
2. The bank has no right to issue bank loans and bank guarantees to the legal entity (the resident and the nonresident of the Republic of Kazakhstan) not corresponding to one of the following conditions:
1) there is information on the physical person owning more than fifty percent of shares in the authorized capital or placed (less exclusive and redeemed by society) shares of the legal entity or having opportunity to vote in more than fifty percent of shares (share in the authorized capital) this legal entity or exercising control over such person;
2) there is information on the physical persons in total owning more than fifty percent of shares in the authorized capital or placed (less exclusive and redeemed by society) shares of the legal entity or having opportunity to vote in more than fifty percent of shares (share in the authorized capital) this legal entity;
3) there is information on all owners of the shares (shares in the authorized capital) the legal entity owning ten or more percent of common shares (shares in the authorized capital) to final owners of common shares (shares in the authorized capital) the legal entity;
4) is legal entity who is controlled by the Government of the Republic of Kazakhstan, the local executive body or foreign state having the minimum required rating. The minimum required rating and the list of rating agencies are established by regulatory legal act of authorized body;
5) is the international organization entering the list established by authorized body;
6) is the organization having the minimum required rating. The minimum required rating and the list of rating agencies are established by regulatory legal act of authorized body;
7) there is information on the physical persons and legal entities specified in subitems 4) - 6) this Item, shares in total owning more than fifty percent in the authorized capital or placed (less exclusive and redeemed by society) shares of the legal entity or having opportunity to vote in more than fifty percent of shares (share in the authorized capital) this legal entity;
8) there is information on managing company of investment fund, and also the physical persons and legal entities specified in subitems 4), 5), the 6) and 7) this Item which are shareholders (unitholders) of the specified investment fund and exercising control over the legal entity;
9) is legal entity on whom there is information which procedure for disclosure is established by regulatory legal act of authorized body.
2-1. The bank has no right to issue bank loans to the citizen of the Republic of Kazakhstan from the date of placement of the announcement of the completion of the procedure of extrajudicial bankruptcy or the procedure of judicial bankruptcy according to the procedure provided by the Law of the Republic of Kazakhstan "About recovery of solvency and bankruptcy of citizens of the Republic of Kazakhstan" and also to accept from such persons providing in the form of pledge, guarantees and guarantees under agreements of bank loan within five years.
3. Requirements of Item 2 of this Article do not extend to bank loans and bank guarantees which size does not exceed the size determined by regulatory legal act of authorized body.
The total volume of all bank loans and bank guarantees specified in Items 1 and 2 of this Article shall not exceed the size which procedure of payments is determined by regulatory legal act of authorized body.
4. The bank is forbidden to transfer assets worth over ten percent from equity of bank in pledge or other form of encumbrance without advance approval of this transaction by the board of directors of bank.
The branch of nonresident bank of the Republic of Kazakhstan is forbidden to transfer assets worth over ten percent from the amount of the assets of branch of nonresident bank of the Republic of Kazakhstan accepted as reserve of pledge or other form of encumbrance without advance approval of this transaction by nonresident bank of the Republic of Kazakhstan.
1. The advertizing of their activities untrue on the date of its publication is forbidden to banks.
1-1. The bank, the organization performing separate types of banking activities, in case of distribution and (or) advertizing, containing information on remuneration sizes on bank loan or contribution, shall specify remuneration rate in reliable, annual, effective, comparable basis.
In case of distribution of the advertizing containing information on remuneration sizes on bank loan or contribution, including its publication, the annual effective rate of remuneration is specified numerically, in form, identical by the size and style of registration of fonts, with other rates of remuneration. Specifying of annual effective rate of remuneration is not allowed by font, it is less used when specifying other information in this advertizing.
2. The authorized body has the right to demand its termination or the publication of its confutation from bank of modification of the advertizing untrue.
In case of failure to carry out of this requirement in the time established by authorized body the authorized body has the right to publish information on discrepancy of validity of the data containing in advertizing or to specify them for bank account, published such advertizing.
3. Advertizing of the performed services falling under category of banking activities is forbidden to the legal entities who do not have the license of authorized body or National Bank of the Republic of Kazakhstan for carrying out banking activities.
1. For coordination of the activities, protection and representation of common interests, implementation of joint projects and the solution of other general tasks banks have the right to form according to the current legislation of association and the unions of banks.
2. Associations (unions) of banks are non-profit organizations.
3. Associations (unions) of banks cannot be used for the purpose of restriction of the competition in bank system, manipulations by remuneration rates, conditions of the offer of the credits and other banking services.
For the purpose of realization of joint projects on loan granting and solutions of other tasks, banks have the right to create consortia on the basis of cooperation agreement and to participate in activities of other consortia, associations.
It is excluded
1. The bank and bank holding for the purpose of implementation of the powers conferred to them by article 8 of this Law can create or have the affiliated organization only in the presence of preliminary permission of authorized body.
The requirement for receipt of permission of authorized body of creation or acquisition of the affiliated organization does not extend to the bank holdings indirectly owning (having opportunity to vote, determine decisions and (or) to exert impact on the made decisions owing to the agreement or otherwise) shares or shares in the authorized capital of this organization through ownership (availability of opportunity to vote, determine decisions and (or) to exert impact on the made decisions owing to the agreement or otherwise) of shares of the resident bank of the Republic of Kazakhstan who is directly owning (having opportunity to vote, determine decisions and (or) to exert impact on made decisions owing to the agreement or otherwise) of shares or shares in the authorized capital specified to the organization and the authorized body having the corresponding permission.
The requirement for receipt of permission of authorized body of creation or acquisition of the affiliated organization does not extend to the bank holdings specified in the subitem 2) of Item 13 of article 8 of this Law. The specified bank holdings shall notify authorized body on creation or acquisition of the affiliated organization within fourteen working days from the date of state registration of the legal entity in case of creation of the affiliated organization or acquisition of shares in the authorized capital or voting shares of the affiliated organization.
The requirement for receipt of permission of authorized body of creation or acquisition of the affiliated organization does not extend to bank in connection with acquisition of control by it over other bank concerning which restructuring according to this Law was carried out.
The procedure for issue to bank or bank holding of permission to creation or acquisition of the affiliated organization is determined by regulatory legal act of authorized body.
2. The affiliated organizations of banks have no right to create and have the affiliated organizations, and also to have considerable equity participation, except for creations or equity participations of the organizations - the nonresidents of the Republic of Kazakhstan performing development, realization, support of the software used in activities of the financial organizations including for automation of their activities.
This restriction does not extend to banks concerning which restructuring according to this Law was carried out and over which control was acquired by other bank, and also on the banks which performed transaction, the stipulated in Article 61-4 presents of the Law and over which control was acquired by other bank.
Do not treat the affiliated organization of bank:
1) legal entities, shares or shares in the authorized capital of which carry over bank in case of acceptance them as pledge according to the civil legislation of the Republic of Kazakhstan and the legislation of foreign state, in case of observance of restrictions, stipulated in Item the 7th article 8 of this Law;
2) legal entities in whose authorized capital participation of bank is performed through ownership (availability of opportunity to vote, determine decisions and (or) to exert impact on the made decisions owing to the agreement or otherwise) of shares or shares in the authorized capital of the affiliated organization created (acquired) on the conditions determined by article 11-2 of this Law;
3) legal entities, shares or shares in the authorized capital of which are acquired by Islamic bank when implementing banking activity, certain article 52-9 of this Law.
3. The affiliated organizations of bank holdings, except for affiliated resident banks of the Republic of Kazakhstan, and also the affiliated organizations of the bank holdings specified in the subitem 2) of Item 13 of article 8 of this Law having no right to create and have the affiliated organizations.
3-1. For issue of permission to creation, acquisition of the affiliated organization and (or) on considerable equity participation of the organizations collection which amount and payment procedure are determined by the tax legislation of the Republic of Kazakhstan is levied.
4. It is necessary to attach the following documents to the statement on receipt of permission to creation, acquisition of the affiliated organization represented in the form established by regulatory legal act of authorized body:
1) constituent documents of the affiliated organization - in case of absence them on Internet resource of depositary of the financial reporting or possibility of obtaining by their authorized body through the web portal of "the electronic government";
2) the decision on organization of the affiliated organization - in case of its creation or the decision on acquisition of the affiliated organization - in case of its acquisition (in case of lack of data on Internet resource of depositary of the financial reporting), and also the copy of the license - in case of implementation of the licensed type of activity;
3) information on leading employees of the affiliated organization (or the candidates recommended for appointment or election to positions of leading employees);
4) the information about affiliates (in case of lack of data on Internet resource of depositary of the financial reporting).
In case of absence at bank of bank holding information on the organizations connected with the affiliated organization is in addition provided:
management of their activities on the integrated basis in accordance with the terms of the memorandum or provisions of association of these organizations;
if the structure of executive body, governing body (for joint-stock companies), the supervisory board (for limited liability partnerships) the specified organizations more than on one third is provided by the same persons;
5) the business plan of the affiliated organization, requirements to which are determined by regulatory legal act of authorized body;
6) information, based on the analysis of the legislation of the country of the location of the affiliated organization, about lack of the circumstances assuming impossibility of carrying out the consolidated supervision of banking conglomerate because the legislation of the countries of the location of members of banking conglomerate - nonresidents of the Republic of Kazakhstan makes impossible accomplishment by them and banking conglomerate of the requirements provided by legal acts of the Republic of Kazakhstan;
7) No. 272-VI ZRK is excluded according to the Law of the Republic of Kazakhstan of 25.11.2019;
8) the financial reporting of the acquired affiliated organization certified by auditing organization for the last complete accounting period;
9) No. 272-VI ZRK is excluded according to the Law of the Republic of Kazakhstan of 25.11.2019;
10) No. 272-VI ZRK is excluded according to the Law of the Republic of Kazakhstan of 25.11.2019;
11) data on the legal entity, by means of acquisition of share in the authorized capital or shares of which the bank and (or) bank holding acquires the affiliated organization, including:
name and location of the legal entity;
data on the size of share of bank and (or) bank holding in the authorized capital of the legal entity, the price of its acquisition, founder (participant) of which is the bank and (or) bank holding;
data on the number of shares, the acquisition price, their percentage ratio to total quantity of placed shares (less exclusive and redeemed by society) the legal entity whose shareholder is the bank and (or) bank holding;
data on the size of share of participation of the legal entity (the founder, the participant whose shareholder is the bank and (or) bank holding), the price of its acquisition in the authorized capital of other legal entity;
data on the number of shares, the acquisition price, their percentage ratio to total quantity of the placed shares (less exclusive and redeemed by society) acquired by the legal entity, the shareholder (the founder, the participant) of which the bank and (or) bank holding is.
These requirements extend to cases of acquisition of the affiliated organization by bank and (or) bank holding by means of acquisition of shares in the authorized capital or shares of several legal entities;
12) No. 168-VI ZRK is excluded according to the Law of the Republic of Kazakhstan of 02.07.2018;
13) No. 272-VI ZRK is excluded according to the Law of the Republic of Kazakhstan of 25.11.2019;
13-1) document confirming payment of collection for issue of permission, except as specified payments through payment gateway of "the electronic government";
14) other documents based on which it is supposed to acquire control or emergence of control confirming control over the affiliated organization with indication of the basis.
5. The bank and (or) bank holding has the right to create the affiliated organization on condition of profitable activities on the consolidated and unconsolidated bases following the results of each of the last two complete financial years and observance of prudential standard rates, including on the consolidated basis, established by authorized body, within the last three months preceding date of filing of application in authorized body on receipt of permission.
6. The bases for refusal in issue of permission to creation, acquisition of the affiliated organization are:
1) not elimination of notes of authorized body according to the submitted documents;
2) discrepancy of the legislation in the field of the consolidated supervision of the financial organizations of the country of the location of the created or acquired affiliated organization to the requirements for the consolidated supervision established by legal acts of the Republic of Kazakhstan;
3) discrepancy of leading employees of the affiliated organization (or the candidates recommended for appointment or election to positions of leading employees) to requirements of subitems 3), 4), 5) and 6) Item 3 of article 20 of this Law;
4) non-compliance with prudential standard rates by banking conglomerate which part the bank and (or) bank holding, as a result of expected availability of the affiliated organization of bank and (or) bank holding is;
5) the analysis of financial consequences assuming deterioration in financial condition of bank, bank holding or banking conglomerate owing to activities of the affiliated organization or planned by bank and (or) bank holding of investments;
6) discrepancy of risk management systems and internal control, including concerning the risks connected with activities of the affiliated organization, to requirements of authorized body to risk management systems and internal control;
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