Article 18-1. Committee on Monetary Policy of the Law on the National Bank of the Republic of Kazakhstan  

     The National Bank of Kazakhstan and its powers

     1. The Monetary Policy Committee of the National Bank of Kazakhstan is the decision-making body on monetary policy issues.

     Monetary Policy Committee of the National Bank of Kazakhstan:

     1) sets the base rate;

     2) sets the remuneration rates for the main operations of monetary policy;

     3) makes decisions on other monetary policy issues not falling within the exclusive competence of the Board of the National Bank of Kazakhstan.

     2. The Monetary Policy Committee of the National Bank of Kazakhstan includes the Chairman of the National Bank of Kazakhstan, his deputies in charge of monetary policy, monetary operations, financial stability, heads of structural divisions of the National Bank of Kazakhstan, whose functions include monetary policy, monetary operations, financial stability, as well as other divisions The National Bank of Kazakhstan by decision of the Chairman of the National Bank of Kazakhstan.

     The Monetary Policy Committee of the National Bank of Kazakhstan may include persons who are not employees of the National Bank of Kazakhstan and who meet the requirements approved by the Board of the National Bank of Kazakhstan.

     The composition and rules of procedure of the Monetary Policy Committee of the National Bank of Kazakhstan are approved by the Chairman of the National Bank of Kazakhstan.

     3. Meetings of the Monetary Policy Committee of the National Bank of Kazakhstan are chaired by the Chairman of the National Bank of Kazakhstan.

     4. The Monetary Policy Committee of the National Bank of Kazakhstan shall adopt resolutions on issues within its competence.

The Law of the Republic of Kazakhstan dated March 30, 1995 No. 2155.

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