RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of October 29, 2026 No. 120

About approval of Rules of forming of risk management system and internal control for payment institutes of the first category

According to subitem 5-4) of Item 2 of article 23 of the Law of the Republic of Kazakhstan "About payments and payment systems" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of forming of risk management system and internal control for payment institutes of the first category.

2. To provide to department of payment systems and digital financial technologies of National Bank of the Republic of Kazakhstan in the procedure established by the legislation of the Republic of Kazakhstan:

1) together with Legal department of National Bank of the Republic of Kazakhstan 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 National Bank of the Republic of Kazakhstan after its official publication;

3) within ten working days after state registration of this resolution of submission to Legal department of National Bank of the Republic of Kazakhstan 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 National Bank of the Republic of Kazakhstan.

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

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of October 29, 2026 No. 120

Rules of forming of risk management system and internal control for payment institutes of the first category

Chapter 1. General provisions

1. These rules of forming of risk management system and internal control (further - Rules) are developed for payment institutes of the first category according to subitem 5-4) of Item 2 of article 23 of the Law of the Republic of Kazakhstan "About payments and payment systems" (further - the Law on payments and payment systems) and determine procedure for forming of risk management system and internal control for payment institutes of the first category.

2. In Rules the concepts provided by the Law on payments and payment systems, the Laws of the Republic of Kazakhstan "About counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction" (further - the Law on POD/FT/FROMU), "About banks and banking activity in the Republic of Kazakhstan" (further - the Law on banks and banking activity), "About digital assets in the Republic of Kazakhstan", and also the following concepts are used:

1) fraud risks and illegal incidents - probability of emergence of financial losses and reputation risks, involvement of payment institute of the first category in illegal actions owing to fraud from the third parties and (or) workers of payment institute of the first category, use of financial services of payment institute of the first category 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 the electronic casino and Internet casino, 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 and also bookmaker offices and (or) totalizators out of the single system of accounting providing implementation of calculations for rates and prizes;

2) business model - set of the chosen strategy, the products, planning processes providing competitiveness and sufficient level of profitability;

3) antifrod-system of payment institute of the first category - complex of the technical and analytical measures directed to prevention and detection of transactions with signs of fraud or illegal incidents, identification of dropper in case of provision of services;

4) dropper - the person which provided to the third party access to the bank account and (or) means of electronic payment, and equally gave the payment instruments to use to the third party including for the material remuneration which entailed them unauthorized use in illegal transactions;

5) settlement risk - probability of emergence of financial losses owing to non-execution or improper execution by payment institute of the first category of the payment order of the legal entity at the scheduled time, including owing to insufficiency of means on bank accounts of payment institute of the first category, technical failures or refusal of participants of calculations;

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