Article 124. Types and grounds for termination of the activities of a branch of a non–resident bank of the Republic of Kazakhstan of the Law on Banks and Banking Activities in the Republic of Kazakhstan Kazakhstan

Home / Laws / Article 124. Types and grounds for termination of the activities of a branch of a non–resident bank of the Republic of Kazakhstan of the Law on Banks and Banking Activities in the Republic of Kazakhstan Kazakhstan

Article 124. Types and grounds for termination of the activities of a branch of a non–resident bank of the Republic of Kazakhstan of the Law on Banks and Banking Activities in the Republic of Kazakhstan Kazakhstan

1. Termination of the activities of a branch of a non–resident bank of the Republic of Kazakhstan may be carried out:

1) by a decision of a non–resident bank of the Republic of Kazakhstan, adopted on the basis of the consent (permission) of the financial supervisory authority of the state of which the non–resident bank of the Republic of Kazakhstan is a resident, or confirmation from the financial supervisory authority of the relevant state that such consent (permission) is under the legislation of the state of which the non–resident bank of the Republic of Kazakhstan is a resident, not required, with the permission of the authorized body (voluntary termination of activities);

2) by a decision of the authorized body on the deprivation of a branch of a non–resident bank of the Republic of Kazakhstan of a banking license to carry out all operations or by a court decision in cases provided for in Article 126 of this Law (compulsory termination of activities).

2. Termination of the activities of a branch of a non–resident bank of the Republic of Kazakhstan is carried out in accordance with this Law and other regulatory legal acts of the Republic of Kazakhstan.

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

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