RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of August 26, 2011 No. 102

About approval of Rules of release, use and repayment of electronic money, and also requirements to issuers of electronic money and electronic payment systems in the territory of the Republic of Kazakhstan

According to the Law of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan" and the purposes of implementation of the Law of the Republic of Kazakhstan of July 21, 2011 "About modification and amendments in some legal acts of the Republic of Kazakhstan concerning electronic money" the Board of National Bank of the Republic of Kazakhstan decides:

1. Approve the enclosed Rules of release, use and repayment of electronic money, and also requirements to issuers of electronic money and electronic payment systems in the territory of the Republic of Kazakhstan.

2. This resolution becomes effective after ten calendar days from the date of its first official publication.

3. Till January 1, 2012 to consider abbreviations of "IIN", BIN abbreviation of RNN.

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of August 26, 2011 No. 102

Rules of release, use and repayment of electronic money, and also requirements to issuers of electronic money and electronic payment systems in the territory of the Republic of Kazakhstan

Chapter 1. General provisions

1. These rules are developed according to the Law of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan" and determine procedure for release, use and repayment of electronic money in the territory of the Republic of Kazakhstan, and also requirements to issuers and electronic payment systems in the territory of the Republic of Kazakhstan.

2. In these rules concepts, the stipulated in Article 3 Laws of the Republic of Kazakhstan of June 29, 1998 "About payments and money transfers" (further - the Law on payments), and also the following concepts are used:

1) the procedure of safety - complex of the organizational measures and program technical means of information security intended for the certificate of the rights of the owner of electronic money to use of electronic money and detection of mistakes and/or changes in content the messages transferred and received by electronic method (further - the electronic message) when using electronic money;

2) exchange transactions with electronic money - transactions on exchange of electronic money issued by one issuer for electronic money of other issuer who is the participant of other electronic payment system;

3) internal regulations of electronic payment system - rules according to which release is made realization, acquisition, repayment of electronic money, and also are performed transactions with their use in electronic payment system;

4) e-wallet - the microprocessor (chip), the software of the personal computer, other program technical tool in which electronic money and/or providing to them access is stored;

5) blocking of e-wallet - total or temporary ban on use of the electronic money which is stored in e-wallet of the owner of electronic money.

Chapter 2. Release of electronic money

3. Release of electronic money is performed by the issuer of electronic money (daleeemitent) within amount of money, received from physical persons or agents of the issuer of electronic money (further - the agent), according to the agreements and internal regulations of electronic payment system signed with them.

3-1. Identification of the owner of electronic money in case of their release on the amount exceeding the size stipulated in Item the 6th article 36-1 of the Law on payments is performed according to the Law of the Republic of Kazakhstan of August 28, 2009 "About counteraction of legalization (washing) of income gained in the criminal way and to terrorism financing" (further - the Law on counteraction to laundering of the income).

4. The issuer within ten calendar days from the moment of the beginning of activities for release of electronic money notifies on it National Bank in form according to appendix to these rules and submits the following documents and data:

1) the internal regulations of electronic payment system approved by governing body of the issuer or the operator of electronic payment system (if the operator of electronic payment system acts as the owner of the trademark of electronic payment system and/or exercises control of electronic payment system);

2) the documents confirming the status of the issuer in electronic payment system (if the issuer is not operator of electronic payment system and to it the right to the trademark of electronic payment system does not belong);

3) standard forms of contracts with owners of electronic money;

4) confirmation about availability of the approved procedures of safety and information security from unauthorized access in electronic payment system;

5) the description of the main characteristics and data on electronic payment system including:

name of electronic payment system;

the name of the operator of electronic payment system (further - the operator);

e-wallet type;

the scheme of contractual relations between participants of electronic payment system;

the scheme of cash and information flows when implementing transactions with use of electronic money;

the scheme of interaction with the operator (if the issuer is not operator);

the risk management methods applied in electronic payment system;

6) the certificate of characteristics of program technical means containing:

the description of structure of program technical means of information processing, telecommunications and the used communication channels;

the main data on organizational, hardware-software and other methods of protection of the software and information from unauthorized access in electronic payment system.

5. Acquisition of electronic money by physical persons and agents is performed by fee of cash or money transfer via bank transfer into the corresponding account of the issuer.

6. The issuer or the operator in case of release of electronic money informs the owner of electronic money of information on procedure of transactions with electronic money and the risks arising during the using of electronic money, methods of submission of claims and about procedure for their consideration, and also types and the sizes of the commission fee levied when implementing transactions with use of electronic money.

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