Article 19-1. Founders and participants of the payment organization The Law on Payments and Payment Systems
The founders (participants) (one of the founders, participants) of a payment organization are individuals, legal entities, and foreign entities without forming a legal entity, with the exception of individuals:
1) not having an impeccable business reputation;
2) those on the list of organizations and persons related to the financing of terrorism and extremism, as well as the list of organizations and persons related to the financing of the proliferation of weapons of mass destruction, in accordance with the legislation of the Republic of Kazakhstan on countering the legalization (laundering) of proceeds from crime, the financing of terrorism and the financing of the proliferation of weapons of mass destruction.
The Law of the Republic of Kazakhstan dated July 26, 2016 No. 11-VI SAM.
This Law regulates public relations arising in the field of organization and functioning of payment systems, regulation of payment systems and supervision (oversight) of them, regulation of the payment services market and control over it, as well as the implementation of payments and (or) money transfers in the Republic of Kazakhstan.
President
Republic of Kazakhstan
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