Article 12. The validity period of the bank opening permit of the Law on Banks and Banking Activities in the Republic Kazakhstan

Home / Laws / Article 12. The validity period of the bank opening permit of the Law on Banks and Banking Activities in the Republic Kazakhstan

1. The permission to open a bank shall have legal force until the authorized body makes a decision to issue a banking license to the bank or until one of the cases provided for in paragraphs 2 and 3 of this article occurs.

2. The issued permission to open a bank is considered cancelled in the following cases::

1) adoption by the founders (shareholders) of the bank of a decision on the voluntary termination of the bank's activities through its reorganization or liquidation;

2) the court's decision to terminate the bank's activities;

3) failure of the State Corporation to register a legal entity as a bank within two months from the date of issuing a permit to open a bank;

4) revocation by the authorized body of the issued permission to open a bank.

The authorized body revokes the issued permission to open a bank in case of identification of false data (information) in the documents and (or) information on the basis of which the permission was issued.

Upon revocation of the bank's opening permit, the authorized body decides to revoke the previously issued permit within two months from the date of discovery of the fact that is the basis for revocation of the permit.;

5) failure to obtain a banking license within one year from the date of issuing a permit to open a bank.

3. The founder (shareholder) of a bank has the right to voluntarily revoke the permission granted to him to open a bank by returning the permission to open a bank to the authorized body.

In this case, the bank is obliged to re-register with another organization or terminate its activities in accordance with the procedure established by the legislation of the Republic of Kazakhstan.

4. In the cases provided for in paragraphs 2 and 3 of this article, the previously granted consent to acquire the status of a major participant in a bank (bank holding company) is considered cancelled.

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

President

Republic of Kazakhstan

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