of February 25, 2013 No. 65
About approval of Rules of creation of provisions (reserves) according to International Financial Reporting Standards and requirements of the legislation of the Republic of Kazakhstan about financial accounting and the financial reporting
According to the Code of the Republic of Kazakhstan of December 10, 2008 "About taxes and other obligatory payments in the budget" the Board of National Bank of the Republic of Kazakhstan decides (Tax code):
1. Approve the enclosed Rules of creation of provisions (reserves) according to International Financial Reporting Standards and requirements of the legislation of the Republic of Kazakhstan about financial accounting and the financial reporting (further - Rules).
2. To the banks and the organizations performing separate types of banking activities (except for the bank which is national institute of development which controlling stock the national managing holding owns) within one month from the date of enforcement of this resolution to develop and approve the Method of calculation of provisions (reserves) according to Rules.
3. This resolution becomes effective after ten calendar days after day of its first official publication and extends to the relations which arose since January 1, 2013.
Chairman of National Bank
G. Marchenko
|
It is approved Ministry of Finance of the Republic of Kazakhstan July 29, 2013 |
Minister B. Zhamishev
|
Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of February 25, 2013 No. 65
1. Rules of creation of provisions (reserves) according to International Financial Reporting Standards and requirements of the legislation of the Republic of Kazakhstan about financial accounting and the financial reporting (further - Rules) are developed according to the Code of the Republic of Kazakhstan of December 10, 2008 "About taxes and other obligatory payments in the budget" (Tax code) and establish for banks (except for the bank which is national institute of development which controlling stock the national managing holding owns) and the organizations performing separate types of banking activities, procedure for creation of provisions (reserves) according to International Financial Reporting Standards and requirements of the legislation of the Republic of Kazakhstan about financial accounting and the financial reporting.
2. In Rules the following concepts are used:
1) Technique - The method of calculation of provisions (reserves) approved by executive body of the financial organization;
2) book value - the amount on which the financial asset is recognized balance after deduction of the provisions (reserves) created on them;
3) uniform assets - group of assets with similar characteristics of credit risk;
4) individual assets - assets on which provisions (reserves) are calculated on each such asset;
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The document ceased to be valid since March 26, 2018 according to Item 3 of the Resolution of Board of National Bank of the Republic of Kazakhstan of December 22, 2017 No. 269