Article 128. Features of the formation of the liquidation mass of the Law on Banks and Banking Activities in the Republic of Kazakhstan forcibly terminating the activities of a branch of a non–resident bank of the Republic of Kazakhstan Kazakhstan

Home / Laws / Article 128. Features of the formation of the liquidation mass of the Law on Banks and Banking Activities in the Republic of Kazakhstan forcibly terminating the activities of a branch of a non–resident bank of the Republic of Kazakhstan Kazakhstan

Article 128. Features of the formation of the liquidation mass of the Law on Banks and Banking Activities in the Republic of Kazakhstan forcibly terminating the activities of a branch of a non–resident bank of the Republic of Kazakhstan Kazakhstan

1. The liquidation mass of a branch of a non–resident bank of the Republic of Kazakhstan is formed in accordance with the procedure established by a regulatory legal act of the authorized body.

2. The liquidation stock of a branch of a non–resident bank of the Republic of Kazakhstan does not include the securities, assets and security fee specified in subitem 3) of paragraph 2 and paragraph 3 of Article 116 of this Law.

3. The liquidation estate of a branch of a non–resident Islamic bank of the Republic of Kazakhstan or a branch of a non–resident bank of the Republic of Kazakhstan with a universal banking license that performs Islamic banking operations does not include property acquired with money raised under an investment deposit agreement. The specified property, as well as obligations on investment deposits, are subject to transfer by the liquidation commission to another bank, a branch of a non–resident bank of the Republic of Kazakhstan engaged in Islamic banking operations.

The procedure for selecting a bank, a branch of a non–resident bank of the Republic of Kazakhstan engaged in Islamic banking operations, a branch of a non–resident bank of the Republic of Kazakhstan with a universal banking license engaged in Islamic banking operations, and transferring to them property acquired with money raised under an investment deposit agreement and obligations under investment deposits of a branch of an Islamic bank forcibly terminating its activities – a non-resident of the Republic of Kazakhstan, a branch of the bank – a non-resident of the Republic of Kazakhstan with a universal banking license who performs Islamic banking operations is established by a regulatory legal act of the authorized body.

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

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