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

of June 25, 2025 No. 24

About modification and amendments in some regulatory legal acts of the Republic of Kazakhstan concerning banking regulation

Board of the Agency of the Republic of Kazakhstan on regulation and development of the DECIDES: financial market

1. Approve the List of regulatory legal acts of the Republic of Kazakhstan concerning banking regulation to which changes and additions are made, according to appendix to this resolution (further - the List).

2. To provide to department of methodology and prudential regulation of the financial organizations in the procedure established by the legislation of the Republic of Kazakhstan:

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 action provided by the subitem 2) of this Item.

3. To impose control of execution of this resolution on the supervising vice-chairman of the Agency of the Republic of Kazakhstan on regulation and development of the financial market.

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

Appendix

to the Resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of June 25, 2025 No. 24

The list of regulatory legal acts of the Republic of Kazakhstan concerning banking regulation to which changes and additions are made

1. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of June 29, 2018 No. 140 "About approval of Requirements to proper check of clients in case of remote establishment of business relations by subjects of financial monitoring" (it is registered in the Register of state registration of regulatory legal acts at No. 17250) the following changes and amendment:

state preamble in the following edition:

"For the purpose of implementation of the Law of the Republic of Kazakhstan "About modification and amendments in some legal acts of the Republic of Kazakhstan concerning enhancement of the civil, bank law and improvement of conditions for business activity" the Board of National Bank of the Republic of Kazakhstan DECIDES:";

in Requirements to proper check of clients in case of remote establishment of the business relations by subjects of financial monitoring approved by the specified resolution:

state Item 1 in the following edition:

"1. These Requirements to proper check of clients in case of remote establishment of business relations by subjects of financial monitoring (further - Requirements) are developed according to Item 9 of article 5 of the Law of the Republic of Kazakhstan "About counteraction of legalization (washing) of the income received in the criminal way and to terrorism financing" (further - the Law on PODFT) and 2) (except for commodity exchanges), 3), 4), 5) and 11) Item 1 of article 3 of the Law on PODFT extend to the subjects of financial monitoring specified in subitems 1) (except for the legal entities performing activities only through exchange points based on the license of National Bank of the Republic of Kazakhstan for exchange transactions with cash foreign currency and legal entities whose exclusive activities is collection of banknotes, coins and values) (further - subjects of financial monitoring).";

state Item 7 in the following edition:

"7. For identification and authentication of the client the following methods are used:

1) digital signature of physical person or legal entity;

2) or means of biometric identification;

3) or details of payment card in case of identification and authentication of physical person (number, effective period of payment card, the name of the system of payment cards) issued by bank of the second level or the National operator of mail with whom the subject of financial monitoring signs the data exchange agreement if the physical person was earlier identified by the subject of financial monitoring in case of personal presence;

4) or confirmation of the identity of physical person by reconciliation with the state databases;

5) or the unique identifier representing combination of letters, figures or symbols or other identifier established by the subject of financial monitoring for identification of the client and approved with it.

Use of one or in total several of the methods of identification and authentication of the client determined in part one of this Item, except as specified, provided by part three of this Item and Item 7-1 of Requirements is allowed.

The method of identification and authentication of the client provided by the subitem 5) of part one of this Item is used in one of the following cases:

in total with one or in several ways identifications and authentications of the client, the provided subitems 1), 2), 3) and 4) parts one of this Item;

in case of the conclusion insurance companies and branches of the insurance (reinsurance) nonresident organizations of the Republic of Kazakhstan of insurance contracts electronically, except for life insurance contracts, agreements of annuity insurance and insurance contracts providing condition of participation of the insurer in investments;

when taking measures to proper check of clients (their representatives) and beneficial owners according to Item 6 of article 5 of the Law on PODFT.

The choice of method of identification and authentication of the client is performed by the subject of financial monitoring.";

add with Item 7-1 of the following content:

"7-1. Banks of the second level, branches of nonresident banks of the Republic of Kazakhstan and the National operator of mail in case of remote establishment of business relations with the client apply two-factor identification of the client with obligatory carrying out biometric identification of the client according to 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. 18 "About approval of Requirements to Rules of internal control for the purpose of counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction for banks of the second level, branches of nonresident banks of the Republic of Kazakhstan and the National operator of mail" registered in the Register of state registration of regulatory legal acts at No. 20160.

When carrying out biometric identification of the client banks of the second level, branches of nonresident banks of the Republic of Kazakhstan and the National operator of mail provide storage of record of session of video conference with the client or the received current image of the client with use of technology of identification of movement at least five years from the date of the termination of business relations with the client, including on the basis of outsourcing.";

state Item 11 in the following edition:

"11. The subject of financial monitoring refuses establishment of business relations by remote method and (or) carrying out transaction in case:

1) discrepancies of the client to the requirements specified in Item 3 of Requirements;

2) failures to carry out of the conditions specified in the subitem 2) of item 4 and Item 6 of Requirements;

3) in the presence of suspicions at the subject of financial monitoring about making by the client of transaction for the purpose of ODFT;

4) on other bases provided by the Code of the Republic of Kazakhstan "About taxes and other obligatory payments in the budget" (Tax code), the Law on PODFT, the Law of the Republic of Kazakhstan "About payments and payment systems".

In case of refusal to the client in establishment of business relations by remote method the subject of financial monitoring notifies the client on possibility of establishment of business relations in attendance procedure.".

2. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of November 12, 2019 No. 188 "About approval of Rules of forming of risk management system and internal control for banks of the second level, branches of nonresident banks of the Republic of Kazakhstan" (it is registered in the Register of state registration of regulatory legal acts at No. 19632) the following changes and amendments:

state preamble in the following edition:

"According to part two of Item 1 of article 40-5 of the Law of the Republic of Kazakhstan "About banks and banking activity in the Republic of Kazakhstan" the Board of National Bank of the Republic of Kazakhstan DECIDES:";

in Rules of forming of risk management system and internal control for banks of the second level, branches of the nonresident banks of the Republic of Kazakhstan approved by the specified resolution:

state Item 1 in the following edition:

"1. These rules of forming of risk management system and internal control (further - Rules) are developed for banks of the second level, branches of nonresident banks of the Republic of Kazakhstan according to part two of Item 1 of article 40-5 of the Law of the Republic of Kazakhstan "About banks and banking activity in the Republic of Kazakhstan" (further - the Law on banks) and establish procedure for forming of risk management system and internal control of banks of the second level, branches of nonresident banks of the Republic of Kazakhstan (further - bank).";

state Item 2 in the following edition:

"2. In Rules the concepts provided by the Law of the Republic of Kazakhstan "About counteraction of legalization (washing) of income gained in the criminal way and to terrorism financing", the Law of the Republic of Kazakhstan "About payments and payment systems" and also the following concepts are used:

1) risk of information security - probable emergence of damage owing to violation of confidentiality, deliberate violation of integrity or availability of data assets of bank;

2) risk of information technologies - probability of emergence of damage owing to refusal (functioning violation) of the information and communication technologies operated by bank;

3) fraud risks and illegal incidents - probability of emergence of financial losses and reputation risks, involvement of bank in illegal actions owing to fraud from the third parties and (or) employees of bank, use of financial services of bank in the transactions connected with illegal production, turnover and (or) transit of drugs, the organization of activities of financial pyramids and for implementation of payments and (or) money transfers for benefit of electronic casino and Internet casino, and also the foreign bookmaker offices and (or) totalizators which do not have licenses for the occupation right activities in the field of gaming in the Republic of Kazakhstan;

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