RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of May 30, 2016 No. 137

About approval of Rules of the notification of authorized body on regulation, control and supervision of the financial market and the financial organizations about approval of financial products by the financial organizations, and also the list of the documents attached to the notification

According to article 31-1 of 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 the notification of authorized body on regulation, control and supervision of the financial market and the financial organizations about approval of financial products by the financial organizations, and also the list of the documents attached to the notification.

2. Declare invalid the resolution of Board of National Bank of the Republic of Kazakhstan 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" (registered in the Register of state registration of regulatory legal acts at No. 9899, published on December 24, 2014 in information system of law of regulatory legal acts of the Republic of Kazakhstan of Ad_let).

3. To management on consumer protection of financial services and external communications (Terentyev A. L.) in the procedure established by the legislation 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) 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;

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

4. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Pirmatov G. O.

5. This resolution becomes effective after twenty one calendar days after day of its first official publication and extends to the financial products approved from the date of enforcement of this resolution.

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of May 30, 2016 No. 137

Rules of the notification of authorized body on regulation, control and supervision of the financial market and the financial organizations about approval of financial products by the financial organizations, and also the list of the documents attached to the notification

1. These rules of the notification of authorized body on regulation, control and supervision of the financial market and the financial organizations about approval of financial products by the financial organizations, and also the list of the documents attached to the notification (further – Rules) are developed according to article 31-1 of the Law of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan", article 31-1 of the Law of the Republic of Kazakhstan of December 18, 2000 "About insurance activity", article 31-1 of the Law of the Republic of Kazakhstan of July 2, 2003 "About the security market", article 31-1 of the Law of the Republic of Kazakhstan of November 26, 2012 "About microfinancial activities", Item 2 of article 12 of the Law of the Republic of Kazakhstan of May 16, 2014 "About permissions and notifications" and determines the notification procedure the financial organizations of authorized body for regulation, to control and supervision of the financial market and the financial organizations (further – authorized body) about approval of financial products and the list of the documents attached to the notification.

Requirements of Rules extend also to branches of banks - nonresidents of the Republic of Kazakhstan, branches of the insurance (reinsurance) nonresident organizations of the Republic of Kazakhstan.

2. The financial organization notifies authorized body on approval of the financial products provided by the resolution of Board of National Bank of the Republic of Kazakhstan of May 30, 2016 No. 136 "About approval of the List of financial products on which approval the financial organization notifies authorized body on regulation, the control and supervision of the financial market and the financial organizations" registered in the Register of state registration of regulatory legal acts at No. 13852.

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