Article 1. The basic concepts used in this Law of the Law on Banks and Banking Activities in the Republic of Kazakhstan

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The following basic concepts are used in this Law:

1) objects of informatization – electronic information resources, software, Internet resource and (or) information and communication infrastructure that provide a bank, a branch of a non-resident bank of the Republic of Kazakhstan, an organization engaged in certain types of banking operations, with the opportunity, among other things, to exchange data (information) with a client through the use of identification means provided by The Law of the Republic of Kazakhstan "On Payments and Payment Systems";

2) universal banking license – a license of an authorized body issued to a bank or a branch of a non–resident bank of the Republic of Kazakhstan for banking and other operations;

3) basic banking license – a license of an authorized body issued to a bank to carry out banking and other operations, subject to the restrictions and specifics established by this Law for a bank with a basic banking license;

4) control – the ability to determine the decisions of a legal entity or an organization that is not a legal entity, arising in the presence of one of the following conditions:

direct and (or) indirect ownership and (or) use and (or) disposal by one person of more than fifty percent of voting shares, participation interests, units or other forms of equity participation in a legal entity or an organization that is not a legal entity;

the possibility for one person to directly or indirectly elect at least half of the composition of the governing body or executive body of a legal entity or an organization that is not a legal entity;

inclusion of the financial statements of a legal entity, with the exception of the financial statements of a special financial company established in accordance with the legislation of the Republic of Kazakhstan on project financing and securitization, or an organization that is not a legal entity, in the financial statements of another legal entity or organization that is not a legal entity, in accordance with the audit report;

the ability of one person independently or jointly with one or more persons to determine the decisions of a legal entity or an organization that is not a legal entity by virtue of a contract (supporting documents) or otherwise in cases established by the authorized body;

5) bank is a legal entity established in the organizational and legal form of a joint–stock company, which is a commercial organization authorized to carry out banking activities on the basis of a banking license in accordance with this Law.;

6) an electronic trading platform for the sale of banking and microfinance assets is an online resource that provides an infrastructure for bidding, operating in accordance with the Law of the Republic of Kazakhstan "On State Regulation, Control and Supervision of the Financial Market and Financial Organizations";

7) banking conglomerate is a group of legal entities and organizations that are not legal entities, consisting of a bank holding company (if any) and a bank, as well as subsidiaries of the bank holding company and (or) subsidiaries of the bank, and (or) organizations in which the bank holding company and (or) its subsidiaries, and (or) the bank has a significant equity interest (hereinafter referred to as the organizations that are part of the banking conglomerate).

The banking conglomerate does not include the national managing holding, the non–resident banking holding of the Republic of Kazakhstan, as well as subsidiaries and organizations in which the non–resident banking holding of the Republic of Kazakhstan has a significant equity interest that are non-residents of the Republic of Kazakhstan.;

8) banking license – a universal banking license, a basic banking license and (or) a license for Islamic banking and other operations;

9) an organization engaged in certain types of banking operations is a legal entity that is not a bank, which, on the basis of a license from an authorized body or the National Bank of the Republic of Kazakhstan or in accordance with the laws of the Republic of Kazakhstan, is authorized to carry out certain types of banking operations provided for by this Law.;

10) a major participant in the bank is an individual or a legal entity that, in accordance with the written consent of the authorized body, has the right:

directly and (or) indirectly own, use and dispose of a total of ten or more percent of the bank's voting shares, including through derivative securities issued in accordance with the laws of the Republic of Kazakhstan or a foreign country, the underlying asset of which are the bank's voting shares;

to directly and (or) indirectly influence the decisions taken by the bank (to vote) with ten or more percent of the bank's voting shares by virtue of an agreement (supporting documents) or otherwise in cases established by the authorized body.

They are not recognized as a major participant in the bank:

Government of the Republic of Kazakhstan;

National managing Holding Company;

a single accumulative pension fund that manages an investment portfolio that owns the bank's voting shares and (or) derivative securities issued in accordance with the legislation of the Republic of Kazakhstan or a foreign country, the underlying asset of which is the bank's voting shares, at the expense of pension assets;

a person performing the functions of a nominee holder of the bank's voting shares and (or) derivative securities issued in accordance with the legislation of the Republic of Kazakhstan or a foreign state, the underlying asset of which is the bank's voting shares, as well as the issuer of the said derivative securities;

a person who has the right solely to receive dividends and (or) other income from the bank's shares without the ability to influence decisions made by the bank;

other persons specified in paragraph 19 of Article 9-5 of the Law of the Republic of Kazakhstan "On State Regulation, Control and Supervision of the Financial Market and Financial Organizations";

11) a bank holding company is a legal entity that, in accordance with the written consent of the authorized body, has the right:

directly and (or) indirectly own, use and dispose of a total of twenty-five percent or more of the bank's voting shares, including through derivative securities issued in accordance with the laws of the Republic of Kazakhstan or a foreign country, the underlying asset of which are the bank's voting shares;

to directly and (or) indirectly influence the decisions taken by the bank (to vote) with twenty-five or more percent of the bank's voting shares by virtue of an agreement (supporting documents) or otherwise in cases established by the authorized body.

They are not recognized as a bank holding company:

Government of the Republic of Kazakhstan;

National managing Holding Company;

a person who has the right solely to receive dividends and (or) other income from the bank's shares without the ability to influence decisions made by the bank;

other persons specified in paragraph 19 of Article 9-5 of the Law of the Republic of Kazakhstan "On State Regulation, Control and Supervision of the Financial Market and Financial Organizations";

12) management body – the board of directors of a joint-stock company or another body with a similar competence, permanently operating in a legal entity;

13) parent organization – a legal entity (an organization that is not a legal entity) exercising (exercising) control over another legal entity or another organization that is not a legal entity;

14) deposit – money transferred by one person (depositor) to another person – bank, bank branch – a non-resident of the Republic of Kazakhstan, the National Postal Operator or the National Bank of the Republic of Kazakhstan on the terms of their return in nominal terms (with the exception of an investment deposit in the framework of Islamic banking operations), regardless of whether the specified money should be returned on demand or after a certain period, in whole or in parts, with a pre-agreed surcharge (remuneration) either without one(s), directly to the depositor or to a third party;

15) data showcase – a structured data set of a bank, a branch of a non–resident bank of the Republic of Kazakhstan, organized and updated in accordance with the requirements of the authorized body, intended for storage and transfer in a prescribed format to the authorized body for the purpose of overseeing the activities of the bank, a branch of a non–resident bank of the Republic of Kazakhstan and (or) meeting reporting requirements;

16) subsidiary organization – a legal entity (an organization that is not a legal entity) in relation to which another legal entity or an organization that is not a legal entity exercises control;

17) indirect ownership – the ability to influence the decisions of a legal entity or an organization that is not a legal entity, a major participant in a legal entity or an organization that is not a legal entity, and (or) persons who are jointly a major participant in a legal entity or an organization that is not a legal entity, through ownership of voting shares, participation shares, shares or other forms of equity participation in a legal entity or an organization that is not a legal entity;

18) a systemically important bank is a bank on the stable functioning of which the stability of the financial system as a whole depends;

19) an organization that is not a legal entity is a foundation, partnership, trust, company, partnership, organization or other corporate entity established (registered) in accordance with the legislation of a foreign state, considered as independent organizational and legal forms regardless of whether they have the status of a legal entity in a foreign state.;

20) Islamic bank – a bank authorized to carry out Islamic banking operations, which are the main type of activity for the specified bank, on the basis of a license to carry out Islamic banking and other operations;

21) license for carrying out Islamic banking and other operations – a license of the authorized body for carrying out Islamic banking and other operations issued to an Islamic bank, a bank with a universal banking license engaged in Islamic banking operations, a branch of a non–resident Islamic bank of the Republic of Kazakhstan, a branch of a non–resident bank of the Republic of Kazakhstan with a universal banking license engaged in Islamic banking operations;

22) a bank with a universal banking license carrying out Islamic banking operations is a bank authorized to carry out banking and other operations on the basis of a universal banking license, as well as Islamic banking operations on the basis of a license to carry out Islamic banking and other operations;

23) a branch of a non–resident bank of the Republic of Kazakhstan is a separate subdivision of a non–resident bank of the Republic of Kazakhstan, which is not a legal entity located in the territory of the Republic of Kazakhstan, which has been registered with the Government for Citizens State Corporation and carries out banking and other operations and (or) Islamic banking operations on the basis of a banking license;

24) non-residents of the Republic of Kazakhstan:

foreigners and stateless persons who do not have a permanent residence permit in the Republic of Kazakhstan;

legal entities and organizations that are not legal entities established in accordance with the laws of foreign countries;

international organizations;

25) residents of the Republic of Kazakhstan:

citizens of the Republic of Kazakhstan;

foreigners and stateless persons who have a permanent residence permit in the Republic of Kazakhstan;

legal entities established in accordance with the legislation of the Republic of Kazakhstan;

legal entities registered in accordance with the applicable law of the Astana International Financial Center;

branches of non–resident banks of the Republic of Kazakhstan, branches of non–resident insurance (reinsurance) organizations of the Republic of Kazakhstan, branches of non–resident insurance brokers of the Republic of Kazakhstan;

26) the authorized body for regulation, control and supervision of the financial market and financial organizations (hereinafter referred to as the authorized body) is a state body responsible for state regulation, control and supervision of the financial market and financial organizations;

27) trust management agreement for rights (claims) – a trust management agreement for rights (claims) under a bank loan agreement, a micro-loan agreement concluded between a service company and a person specified in paragraph 1 of Article 63 of this Law, or a person specified in part one of paragraph 5 of Article 9-1 of the Law of the Republic of Kazakhstan "On Microfinance activities", or an insurance (reinsurance) organization;

28) impeccable business reputation – professionalism and integrity of a person, confirmed, among other things, by the absence of facts:

the commission by the specified person of illegal actions (inaction) that led to insolvency, which led to the compulsory liquidation of a financial institution, or to the application of a settlement regime to the bank;

the person's outstanding or outstanding criminal record, including the absence of a judicial act that has entered into legal force on the application of criminal punishment to a person in the form of deprivation of the right to hold the position of a senior employee of a financial institution, a banking and (or) insurance holding company and to be a major participant (major shareholder) of a financial institution for life;

the existence of relations with third parties (control and influence of third parties), whose actions contributed to the legalization (laundering) of proceeds from crime, the financing of terrorism and the financing of the proliferation of weapons of mass destruction, based on information from the authorized financial monitoring body;

29) preposition of collateral for non–market assets is a procedure for preliminary determination by an authorized body of non-market assets of a bank acceptable for acceptance by the National Bank of the Republic of Kazakhstan as collateral, in order to ensure the possibility of obtaining a loan of last resort by the specified bank, provided for by the Law of the Republic of Kazakhstan "On the National Bank of the Republic of Kazakhstan";

30) a service company is a subsidiary organization for the management of stress assets, a collection agency that has, under a trust management agreement, rights (claims), powers for the trust management of rights (claims) under a bank loan agreement, a micro–loan agreement, including in relation to:

changes in the terms of the bank loan agreement, the micro-loan agreement;

representation in court of the interests of the person with whom the contract of trust management of rights (claims) is concluded;

receiving money and (or) other property from the debtor;

other powers provided for by this Law, other laws of the Republic of Kazakhstan and (or) the contract of trust management of rights (claims);

31) a bank in liquidation is a bank that is in liquidation procedure in accordance with a court decision on the forced liquidation of the bank that has entered into force or the permission of the authorized body for the voluntary liquidation of the bank.;

32) an insolvent or potentially insolvent bank is a bank whose viability assessment confirms the existence of one of the following circumstances:

excess of the bank's liabilities over the bank's assets;

reduction of the bank's equity capital adequacy ratios and/or liquidity ratios to a level below the minimum values established by the authorized body;

inability of the bank to fulfill monetary obligations to depositors and (or) other creditors due to lack or insufficiency of money;

significant deficiencies in the bank's corporate governance and/or risk management and internal control system, which significantly negatively affect the bank's financial stability;

material misstatements in the bank's regulatory or financial statements that have a significant negative impact on the bank's financial stability, including intentional misrepresentation or non-recognition of losses, manipulation of accounting policies that have resulted in a significant deviation of the information provided from the actual financial position of the bank;

the existence of circumstances indicating a threat to the financial stability of the bank, including a significant deterioration in the value of the bank's assets;

the existence of the grounds established by this Law for revoking a bank's banking license to carry out all types of operations;

the existence of circumstances (information) indicating that any of the above circumstances will occur in relation to the bank within the next six months;

33) a stabilization bank is a second–tier bank established for the purpose of transferring to it all or part of the assets and liabilities of a bank in settlement mode.;

34) consumer bank loan – a bank loan of an individual provided for the purchase of goods, works, services and (or) other purposes not related to the conduct of entrepreneurial activity, with the exception of a mortgage loan;

35) significant participation in the capital of an organization is the direct and (or) indirect ownership and (or) use and (or) disposal, independently or jointly with one or more persons, by virtue of an agreement (supporting documents) or otherwise, in cases established by the authorized body, of twenty or more percent of voting shares, participation interests, shares or other forms of equity participation in a legal entity or an organization that is not a legal entity.

A person with significant participation in the capital of an organization is not recognized:

Government of the Republic of Kazakhstan;

National managing Holding Company;

subsidiaries of the National Bank of the Republic of Kazakhstan;

other persons in cases stipulated by this Law;

36) major participant – an individual, a legal entity, an organization that is not a legal entity that directly and (or) indirectly owns and (or) uses and (or) disposes of ten or more percent of voting shares, participation interests, units or other forms of equity participation in a legal entity or organization that does not which is a legal entity.

A major participant in a legal entity or an organization that is not a legal entity is not recognized:

Government of the Republic of Kazakhstan;

National managing Holding Company;

subsidiaries of the National Bank of the Republic of Kazakhstan;

The Law of the Republic Kazakhstan dated January 16, 2026 No. 258-VIII SAM.

President

Republic of Kazakhstan

Constitution Law Code Regulation Decree Order Decision Resolution Lawyer Almaty Lawyer Legal service Legal advice Civil Criminal Administrative cases Disputes Defense Arbitration Law Company Kazakhstan Law Firm Court Cases

Article 1. The basic concepts used in this Law are the Law On Banks and Banking Activities in the Republic of Kazakhstan

The following basic concepts are used in this Law:

1) objects of informatization – electronic information resources, software, Internet resource and (or) information and communication infrastructure that provide a bank, a branch of a non-resident bank of the Republic of Kazakhstan, an organization engaged in certain types of banking operations, with the opportunity, among other things, to exchange data (information) with a client through the use of identification means provided by the Law of the Republic of Kazakhstan "on Payments and payment systems";

2) universal banking license – a license of an authorized body issued to a bank or a branch of a non-resident bank of the Republic of Kazakhstan for banking and other operations;

4) control – the possibility of determining the decision of a legal entity or an organization that is not a legal entity, arising in the presence of one of the following conditions:

5) bank is a legal entity established in the organizational and legal form of a joint-stock company, which is a commercial organization that is legally engaged in banking activities on the basis of a banking license in accordance with this Law.;

6) an electronic trading platform for the sale of banking and microfinance assets is an online resource that provides an infrastructure for bidding, operating in accordance with the Law of the Republic of Kazakhstan "on State Regulation, Control and supervision of the financial market and financial organizations";

The banking conglomerate does not include the national managing holding, the non–resident banking holding of the Republic of Kazakhstan, as well as subsidiaries and organizations in which the non-resident banking holding of the Republic of Kazakhstan has a significant equity interest, which are non-residents of the Republic of Kazakhstan.;

8) banking license – a universal banking license, a basic banking license and (or) a license for Islamic banking and other operations;

9) an organization engaged in certain types of banking operations is a legal entity that is not a bank, which, on the basis of a license from an authorized body or the National Bank of the Republic of Kazakhstan or in accordance with the laws of the Republic of Kazakhstan, is entitled to carry out certain types of banking operations provided for by this Law.;

10) a major participant in the bank is a natural or legal person who, in accordance with the written consent of the authorized body, has the right:

to exert direct and (or) indirect influence on decisions taken by the bank (to vote) with ten or more percent of the bank's voting shares by virtue of an agreement (supporting documents) or otherwise in cases established by the authorized body.

They are not recognized as a major participant in the bank:

Government of the Republic of Kazakhstan;

National managing Holding Company;

a person who has the right solely to receive dividends and (or) other income from the bank's shares without the ability to influence decisions made by the bank;

other persons specified in paragraph 19 of Article 9-5 of the Law of the Republic of Kazakhstan "on State Regulation, control and supervision of the financial market and financial organizations";

11) a bank holding company is a legal entity that, in accordance with the written consent of the authorized body, has the right:

to exert direct and (or) indirect influence on decisions taken by the bank (to vote) with twenty-five or more percent of the bank's voting shares by virtue of an agreement (supporting documents) or otherwise in cases established by the authorized body.

They are not recognized as a bank holding company:

Government of the Republic of Kazakhstan;

National managing Holding Company;

a person who has the right solely to receive dividends and (or) other income from the bank's shares without the ability to influence decisions made by the bank;

other persons specified in paragraph 19 of Article 9-5 of the Law of the Republic of Kazakhstan "on State Regulation, control and supervision of the financial market and financial organizations";

12) management body – the board of directors of a joint-stock company or another body of similar competence, permanently acting as a legal entity;

13) parent organization - a legal entity (an organization that is not a legal entity) exercising (exercising) control over another legal entity or another organization that is not a legal entity;

14) deposit -monetary funds transferred by one person (depositor) to another person -a bank, a bank branch – a non-resident of the Republic of Kazakhstan, the National Postal Operator or the National Bank of the Republic of Kazakhstan on the terms of their return in nominal terms (with the exception of an investment deposit in the framework of Islamic banking operations), regardless of whether the specified funds should be returned on demand or after a certain period, in whole or in Parts, With a Harmful agreed surcharge (Refund) or without one(s), directly to the depositor or to a third party;

16) subsidiary organization – a legal entity (an organization that is not a legal entity) in relation to which another legal entity or an organization that is not a legal entity exercises control;

18) a systemically important bank is a bank on the stable functioning of which the stability of the financial system as a whole depends;

20) Islamic bank – a bank that legally carries out Islamic banking operations, which are the main type of activity for the specified bank, on the basis of a license to carry out Islamic banking and other operations;

21) license for carrying out Islamic banking and other operations – a license of the authorized body for carrying out Islamic banking and other operations issued to an Islamic bank, a bank with a universal banking license performing Islamic banking operations, a branch of a non–resident Islamic bank of the Republic of Kazakhstan, a branch of a non–resident bank of the Republic of Kazakhstan with a universal banking license performing Islamic banking operations;

22) a bank with a universal banking license that performs Islamic banking operations is a bank that legally performs banking and other operations based on a universal banking license, as well as Islamic banking operations based on a license to perform Islamic banking and other operations;

24) non-residents of the Republic of Kazakhstan:

foreigners and stateless persons who do not have a permanent residence permit in the Republic of Kazakhstan;

legal entities and organizations that are not legal entities established in accordance with the laws of foreign countries;

international organizations;

25) residents of the Republic of Kazakhstan:

the Civil Republic of Kazakhstan;

foreigners and stateless persons who have a permanent residence permit in the Republic of Kazakhstan;

legal entities established in accordance with the legislation of the Republic of Kazakhstan;

legal entities registered in accordance with the applicable law of the Astana International Financial Center;

branches of non–resident banks of the Republic of Kazakhstan, branches of non-resident insurance (reinsurance) organizations of the Republic of Kazakhstan, branches of non-resident insurance brokers of the Republic of Kazakhstan;

27) trust management agreement for rights (claims) – a trust management agreement for rights (claims) under a bank loan agreement, a micro-loan agreement concluded between a service company and a person specified in paragraph 1 of Article 63 of this Law, or a person specified in part one of paragraph 5 of Article 9-1 of the Law of the Republic of Kazakhstan "on microfinance activities", or an insurance (reinsurance) organization;

28) impeccable business reputation - professionalism and integrity of a person, confirmed, among other things, by the absence of facts:

the person's outstanding or outstanding criminal record, including the absence of a judicial act that has entered into legal force on the application of criminal punishment to a person in the form of deprivation of the right to hold the position of head of an employee of a financial institution, a banking and (or) insurance holding company and to be a major participant (major shareholder) of a financial institution;

29) preposition of collateral for non–market assets is a procedure for preliminary determination by an authorized body of non-market assets of a bank accepted for acceptance by the National Bank of the Republic of Kazakhstan as collateral, in order to ensure the possibility of obtaining a loan of last resort by the specified bank, provided for by the Law of the Republic of Kazakhstan "on the National Bank of the Republic of Kazakhstan";

changes in the terms of the bank loan agreement, the micro-loan agreement;

representation in court of the interests of the person with whom the contract of trust management of rights (claims) is concluded;

receiving money and (or) other property from the debtor;

other powers provided for by this Law, other laws of the Republic of Kazakhstan and (or) the contract of trust management of rights (claims);

32) an insolvent or potentially insolvent bank is a bank whose viability assessment confirms the existence of one of the following circumstances:

excess of the bank's liabilities over the bank's assets;

reduction of the bank's equity capital adequacy ratios and/or liquidity ratios to a level below the minimum values established by the authorized body;

inability of the bank to fulfill monetary obligations to depositors and (or) other creditors due to lack or insufficiency of funds;

significant deficiencies in the bank's corporate governance and/or risk management and internal control system, which significantly negatively affect the bank's financial stability;

material misstatements in the bank's regulatory or financial statements that have a significant negative impact on the bank's financial stability, including intentional misrepresentation or non-recognition of embezzlement, manipulation of accounting policies that have resulted in a significant deviation of the information provided from the actual financial position of the bank;

the existence of circumstances indicating a threat to the financial stability of the bank, including a significant deterioration in the value of the bank's assets;

the existence of the grounds established by this Law for revoking a bank's banking license to carry out all types of operations;

the existence of circumstances (information) indicating that any of the above circumstances will occur in relation to the bank within the next six months;

33) a stabilization bank is a second–tier bank established for the purpose of transferring to it all or part of the assets and liabilities of a regulated bank.;

35) substantial participation in the capital of an organization is the direct and (or) indirect ownership and (or) use and (or) disposal, independently or jointly with one or more persons, by virtue of an agreement (supporting documents) or otherwise, in cases established by the authorized body, of twenty or more percent of voting shares, participation interests, shares or other forms of equity participation in a legal entity or an organization that is not a legal entity.

A person with significant participation in the capital of an organization is not recognized:

Government of the Republic of Kazakhstan;

National managing Holding Company;

subsidiaries of the National Bank of the Republic of Kazakhstan;

other persons in cases stipulated by this Law;

A major participant in a legal entity or an organization that is not a legal entity is not recognized:

Government of the Republic of Kazakhstan;

National managing Holding Company;

subsidiaries of the National Bank of the Republic of Kazakhstan;

The Law of the Republic of Kazakhstan dated January 16, 2026 No. 258-VIII SAM

President

Republic of Kazakhstan

Constitution Law Code Standard Decree Order Decision Resolution Lawyer Almaty Lawyer Legal service Legal advice Civil Criminal Administrative cases Disputes Defense Arbitration Law Company Kazakhstan Law Firm Court Cases

The Law of the Republic of Kazakhstan dated August 31, 1995 No. 2444. On banks and banking activities, with the introduction of the Law of the Republic of Kazakhstan dated January 16, 2026 No. 258-VIII, the SAM has lost its legal force.

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.

other persons in cases stipulated by this Law;

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

President

Republic of Kazakhstan