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RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of May 30, 2016 No. 144

About establishment of prudential standard rates and other regulations and limits, obligatory to observance, for Islamic banks, their normative values and technique of calculations of prudential standard rates and other regulations and limits, obligatory to observance, for Islamic banks

(The last edition from 10-09-2019)

According to the laws of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" and of March 19, 2010 "About the state statistics" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Establish the following prudential standard rates and other regulations, obligatory to observance, and limits for Islamic banks:

1) minimum size of authorized and own capitals of bank;

2) coefficient of sufficiency of equity;

3) the maximum extent of risk on one borrower;

4) liquidity rates;

5) limits of open foreign exchange position;

6) capitalization of banks to obligations to nonresidents of the Republic of Kazakhstan;

7) coefficient on placement of part of means of banks in internal assets.

2. Establish Normative values and technique of calculations of prudential standard rates and other regulations and limits, obligatory to observance, for Islamic banks according to appendix 1 to this resolution.

3. Recognize invalid regulatory legal acts of the Republic of Kazakhstan, and also structural elements of some regulatory legal acts of the Republic of Kazakhstan according to the list according to appendix 2 to this resolution.

4. To department of methodology of the financial market (Abdrakhmanov N. A.) in the procedure established by the legislation of the Republic of Kazakhstan to provide:

1) together with Legal department (Sarsenov N. V.) state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) the direction of this resolution in the republican state company on the right of economic maintaining "The republican center of legal information of the Ministry of Justice of the Republic of Kazakhstan":

on official publication in information system of law of Ad_let within ten calendar days after its state registration in the Ministry of Justice of the Republic of Kazakhstan;

for inclusion in the State register of regulatory legal acts of the Republic of Kazakhstan, Reference control bank of regulatory legal acts of the Republic of Kazakhstan within five working days from the date of its obtaining by National Bank of the Republic of Kazakhstan after state registration in the Ministry of Justice of the Republic of Kazakhstan;

3) placement of this resolution on official Internet resource of National Bank of the Republic of Kazakhstan after its official publication.

5. To management on consumer protection of financial services and external communications (Terentyev A. L.) provide the direction of this resolution on official publication in periodic printing editions within ten calendar days after its state registration in the Ministry of Justice of the Republic of Kazakhstan.

6. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Smolyakov O. A.

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

Chairman of National Bank

D. Akishev

Appendix 1

to the Resolution of Board of National Bank of the Republic of Kazakhstan of May 30, 2016 No. 144

Normative values and technique of calculations of prudential standard rates and other regulations and limits, obligatory to observance, for Islamic banks

1. These normative values and technique of calculations of prudential standard rates and other regulations and limits, obligatory to observance, (further - Standard rates) are developed for Islamic banks 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 on banks) and establish normative values and technique of calculations of prudential standard rates and other regulations and limits, obligatory to observance, for Islamic banks (further - banks).

1-1. In the Management on forming of provisions (reserves) under asset impairment of bank in the form of loans and receivables according to appendix 1 to Standard rates the following concepts are used:

1) book value - the amount on which the loan is recognized the balance sheet after deduction of the provisions (reserves) created on them;

2) uniform loans - group of loans with similar characteristics of credit risk;

3) individual loans - loans on which provisions (reserves) are calculated on each such loan;

4) investment loan (credit) - I will jam (credit), conforming to the following requirements:

the term of loan (credit) constitutes 5 (five) and more years;

terms of the contract of loan (credit) establish prohibition on complete early repayment. Partial repayment of loan is performed in the terms and procedure provided by the business plan of the borrower;

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