Article 119. Liquidation of the bank on other grounds of the Law on Banks and Banking Activities in the Republic Kazakhstan

Home / Laws / Article 119. Liquidation of the bank on other grounds of the Law on Banks and Banking Activities in the Republic Kazakhstan

1. The compulsory liquidation of a bank in the event that a case is initiated by a court upon appeal to the court with an application (claim) from authorized state bodies in the absence of a decision to revoke the bank's banking license to carry out all types of operations, is carried out in accordance with this Law.

2. The court sends the decision on the compulsory liquidation of the bank to the authorized body.

From the date of entry into force of the court's decision on the compulsory liquidation of the bank in a case initiated on the grounds provided for in subparagraph 2) of Article 118 of this Law, the bank shall be deprived of its banking license to carry out all types of operations.

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

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