Article 2. Legislation of the Republic of Kazakhstan on mandatory deposit guarantee The Law on Mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan

Home / RLA / Article 2. Legislation of the Republic of Kazakhstan on mandatory deposit guarantee The Law on Mandatory guarantee of deposits placed in second-tier banks of the Republic of Kazakhstan

1. The legislation of the Republic of Kazakhstan on mandatory deposit guarantee is based on the Constitution of the Republic of Kazakhstan and consists of this Law and other regulatory legal acts of the Republic of Kazakhstan.

2. If an international treaty ratified by the Republic of Kazakhstan establishes rules other than those provided for by this Law, the rules of the international treaty shall apply.

The Law of the Republic of Kazakhstan dated July 7, 2006 No. 169-III.

This Law is aimed at protecting the rights of depositors – individuals, including individual business entities, and defines the legal basis for the functioning of the mandatory deposit guarantee system placed in second-tier banks of the Republic of Kazakhstan (branches of non-resident banks of the Republic of Kazakhstan), with the exception of interest-free demand deposits and investment deposits placed in Islamic banks (branches of non-resident Islamic banks of the Republic of Kazakhstan), the procedure for establishing and operating an organization that provides mandatory deposit insurance, the participation of second-tier banks of the Republic of Kazakhstan (branches of non-resident banks of the Republic of Kazakhstan) in the mandatory deposit guarantee system, as well as other issues of mutual relations between the participants of the system.

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Republic of Kazakhstan

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