RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of August 31, 2016 No. 202

About approval of Rules of release, use and repayment of electronic money, and also requirements to issuers of electronic money and electronic payment systems in the territory of the Republic of Kazakhstan

According to the subitem 42) "About National Bank of the Republic of Kazakhstan" and the subitem 12) of Item 1 of article 4 of the Law of the Republic of Kazakhstan "About payments and payment systems" the Board of National Bank of the Republic of Kazakhstan DECIDES: parts two of article 15 of the Law of the Republic of Kazakhstan

1. Approve the enclosed Rules of release, use and repayment of electronic money, and also requirements to issuers of electronic money and electronic payment systems in the territory of the Republic of Kazakhstan.

2. Recognize invalid the resolution of Board of National Bank of the Republic of Kazakhstan, and also structural elements of some resolutions of Board of National Bank of the Republic of Kazakhstan according to the list according to appendix to this resolution.

3. To department of payment systems (Ashykbekov E. T.) 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 ten calendar days from the date of its 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.

4. 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.

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

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

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of August 31, 2016 No. 202

Rules of release, use and repayment of electronic money, and also requirements to issuers of electronic money and electronic payment systems in the territory of the Republic of Kazakhstan

Chapter 1. General provisions

1. These rules of release, use and repayment of electronic money, and also requirements to issuers of electronic money and electronic payment systems in the territory of the Republic of Kazakhstan (further – Rules) parts two of article 15 of the Law of the Republic of Kazakhstan "About National Bank of the Republic of Kazakhstan" and the subitem 12) of Item 1 of article 4 of the Law of the Republic of Kazakhstan "About payments and payment systems" are developed according to the subitem 42) (further – the Law on payments and payment systems) and determine procedure for release, use and repayment of electronic money in the territory of the Republic of Kazakhstan, and also requirements to issuers of electronic money (further – the issuer) and to electronic payment systems in the territory of the Republic of Kazakhstan.

Procedure for release, use and repayment of electronic money in the territory of the Republic of Kazakhstan, and also requirements to issuers and electronic payment systems in the territory of the Republic of Kazakhstan include release of electronic money, implementation of transactions with use of electronic money, repayment of electronic money, requirements to issuers and electronic payment systems in the territory of the Republic of Kazakhstan.

1-1. The requirements of Rules applied in relation to banks extend to the branches of nonresident banks of the Republic of Kazakhstan created in the territory of the Republic of Kazakhstan.

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