Article 1. The Bank, its status and location The Law on Banks and Banking Activities in the Republic of Kazakhstan

Home / RLA / Article 1. The Bank, its status and location The Law on Banks and Banking Activities in the Republic of Kazakhstan

1. A bank is a legal entity that is a commercial organization that, in accordance with this Law, is authorized to carry out banking activities.

2. The official status of a bank is determined by the state registration (re–registration) of a legal entity as a bank in the Government for Citizens State Corporation (hereinafter referred to as the Corporation) and the availability of a license from the authorized body for regulation, control and supervision of the financial market and financial organizations (hereinafter referred to as the authorized body) to conduct banking operations.

3. No legal entity that does not have the official status of a bank may be referred to as a "bank" or characterize itself as engaged in banking activities.

3-1. The establishment or operation of shell banks is prohibited in the Republic of Kazakhstan.

4. The location of the bank is the location (postal address) of its Management Board.

The Law of the Republic of Kazakhstan dated August 31, 1995 No. 2444.

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Republic of Kazakhstan

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