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RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of March 26, 2012 No. 137

About approval of Rules of calculation of rates of remuneration in reliable, annual, effective, comparable basis (actual cost) on loans and deposits

(as amended on 29-01-2021)

According to the Law of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of calculation of rates of remuneration in reliable, annual, effective, comparable basis (actual cost) on loans and deposits.

2. Recognize invalid:

2) the resolution of Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations of July 16, 2007 No. 206 "About modification and amendments in the resolution of Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations of September 23, 2006 No. 215 "About approval of Rules of calculation by banks of the second level of rates of remuneration in case of distribution of information on remuneration sizes on financial services" (registered in the Register of state registration of regulatory legal acts at No. 4893);

3) the resolution of Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations of May 26, 2008 No. 81 "About modification and amendments in the resolution of Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations of September 23, 2006 No. 215 "About approval of Rules of calculation of rates of remuneration in case of distribution of information on remuneration sizes on financial services" (registered in the Register of state registration of regulatory legal acts at No. 5261, published on August 1, 2008 in the Yuridicheskaya Gazeta newspaper No. 116 (1516), on September 15, 2008 in the Collection of acts of the central executive and other central state bodies of the Republic of Kazakhstan No. 9).

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

Chairman of National Bank

G. Marchenko

Approved by the resolution of Board of National Bank of the Republic of Kazakhstan of March 26, 2012 No. 137

Rules of calculation of rates of remuneration in reliable, annual, effective, comparable basis (actual cost) on loans and deposits

These rules of calculation of rates of remuneration in reliable, annual, effective, comparable basis (actual cost) on loans and deposits (further - Rules) are developed according to the Law of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" (further - the Law) and establish procedure for calculation by banks, except for Islamic banks, and the organizations performing separate types of banking activities, remuneration rates in reliable, annual, effective, comparable basis (actual cost) on loans and deposits (except for interbank).

Requirements of Rules extend to branches of nonresident banks of the Republic of Kazakhstan, except for branches of Islamic banks - nonresidents of the Republic of Kazakhstan.

1. General provisions

1. For the purposes of Rules the following concepts are used:

1) annual effective rate of remuneration - remuneration rate in reliable, annual, effective, comparable basis (actual cost) on services of bank calculated according to Rules;

2) loan - provision of the credits by bank in cash on the terms of the paid nature, urgency and recoverability based on the license of authorized body on regulation to control and supervision of the financial market and the financial organizations;

3) the client - the physical person or legal entity intending to use or using services of bank in acceptance of deposits and (or) implementation of banking loan activities;

4) services - implementation of transactions by banks on acceptance of the deposits which are drawn up by bank deposit agreement and banking loan activities (except for interbank loans and deposits).

2. Banks specify annual effective rate of remuneration:

1) in case of distribution of information on remuneration sizes on services, including its publications;

2) in the service provision agreements signed with clients.

In the service provision agreements signed with clients, the annual effective rate of remuneration is published by means of devices of the computer equipment in one offer numerically, and also in identical in size and style of registration of fonts (italics, semifat, highlighting, the size) form with other rates of remuneration.

If general terms are reflected in the service provision agreement in the form of the table, the annual effective rate of remuneration is specified in separate line (column), following after specifying of other rates of remuneration.

3. Calculation of annual effective rate of remuneration is made:

1) for date of the conclusion of the service provision agreement;

2) on oral or written customer requirement;

3) in case of introduction of amendments and amendments to the agreement of bank loan by the conclusion of the supplementary agreement to the agreement which attract change of the amount (size) of monetary commitments of the client and (or) term of their payment.

According to the current agreement about service provision signed with the client before enforcement of Rules and in which value of annual effective rate of remuneration, in case of introduction of amendments and amendments to the agreement, including according to the address of the client is not specified value of annual effective rate of remuneration is specified in the supplementary agreement to the agreement, in cases, stipulated in Item 4 Rules, date with which terms of the contract of bank loan change, in other cases - for date of the conclusion of the agreement.

4. In case of introduction of amendments and amendments to the agreement of bank loan by the conclusion of the supplementary agreement to the agreement which attract change of the amount (size) of monetary commitments of the client and (or) term of their payment, including change of rate of remuneration in the cases provided by the Law and (or) the agreement of bank loan the annual effective rate of remuneration on the issued loan is calculated bank based on remaining balance of principal debt, remaining period of crediting for date with which terms of the contract of bank loan, the commissions which are subject to payment by the client change and it is specified in the supplementary agreement to the agreement of bank loan.

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