RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC KAZAKHTAN

of October 22, 2014 No. 203

About approval of Rules of issue of consent of National Bank of the Republic of Kazakhstan for the offer of financial products by the financial organizations to consumers of financial services, and also the microcredits by the microfinancial organizations to their consumers

According to the Law of the Republic of Kazakhstan of May 16, 2014 "About modification and amendments in some legal acts of the Republic of Kazakhstan concerning authorization system" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of issue of consent of National Bank of the Republic of Kazakhstan for the offer of financial products by the financial organizations to consumers of financial services, and also the microcredits by the microfinancial organizations to their consumers.

2. This resolution becomes effective after twenty one calendar days after day of its first official publication, but not earlier than November 21, 2014.

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of October 22, 2014 No. 203

Rules of issue of consent of National Bank of the Republic of Kazakhstan for the offer of financial products by the financial organizations to consumers of financial services, and also microcredits by the microfinancial organizations to their consumers

1. These rules of issue of consent of National Bank of the Republic of Kazakhstan to consumers of financial services, and also the microcredits by the microfinancial organizations to their consumers (further - Rules) are developed by the financial organizations for the offer of financial products according to the laws of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan", of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" (further - the Law on banks), of December 18, 2000 "About insurance activity" (further - the Law on insurance activity), of July 2, 2003 "About the security market" (further - the Law on the security market), of July 4, 2003 "About state regulation, control and supervision of the financial market and the financial organizations", of November 26, 2012 "About the microfinancial organizations" (further - the Law on the microfinancial organizations) also establish procedure for issue by National Bank of the Republic of Kazakhstan (further - authorized body) consent for the offer of financial products by the financial organizations to consumers of financial services, and also the microcredits by the microfinancial organizations to their consumers (further - Consent).

2. Financial products are offered consumers of financial services in the presence of Consent received by the financial organization according to requirements, stipulated in Item 1 article 31-1 of the Law on banks, Item 1 of article 31-1 of the Law on insurance activity, Item 1 of article 31-1 of the Law on the security market, and also Rules.

3. The microcredits are offered consumers of services of the microfinancial organizations in the presence of Consent received by the microfinancial organization according to requirements, stipulated in Item 1 article 31-1 of the Law on the microfinancial organizations and also Rules.

4. For receipt of Consent the financial organization submits the following documents to authorized body:

1) the statement for Consent issue constituted in any form and signed by the first head of executive body of the financial organization or person authorized by it with indication of business and identification number of the financial organization, contact information of the executive in charge (surname, name, in the presence - middle names, phones and the e-mail address) and the number of sheets in appendix;

2) the statement from the decision of authorized body of the financial organization on approval of standard form of the agreement on provision of financial product;

3) the standard form of the agreement on provision of financial product approved by authorized body of the financial organization;

4) the document confirming the power of the person authorized by the first head of executive body of the financial organization on signing of the statement, specified in the subitem 1) of this Item.

5. For receipt of Consent the microfinancial organization submits the following documents to authorized body:

1) the statement for Consent issue constituted in any form and signed by the first head of executive body of the microfinancial organization or person authorized by it with indication of business and identification number of the microfinancial organization, contact information of the executive in charge (surname, name, in the presence - middle names, phones and the e-mail address) and the number of sheets in appendix;

2) the statement from the decision of authorized body of the microfinancial organization on approval of standard form of the agreement on provision of the microcredit;

3) the standard form of the agreement on provision of the microcredit approved by authorized body of the microfinancial organization;

4) the document confirming the power of the person authorized by the first head of executive body of the microfinancial organization on signing of the statement, specified in the subitem 1) of this Item.

6. The documents listed in Items 4, of 5 Rules, consisting of several sheets are represented numbered, stitched and certified by seal the financial (microfinancial) organization on the back of the last leaf, partially over label with indication of the number of the stitched sheets pasted on insertion node.

7. The documents submitted by the financial (microfinancial) organization for receipt of Consent are considered by authorized body within ten working days from receipt date in authorized body of document package specified in Items 4, of 5 Rules.

8. The authorized body by results of consideration of the documents submitted by the financial (microfinancial) organization for receipt of Consent issues Consent in form according to appendices 1, 2 to Rules.

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