Article 4. Establishment of an organization providing mandatory deposit guarantees Chapter 2. LEGAL STATUS OF AN ORGANIZATION PROVIDING MANDATORY DEPOSIT GUARANTEES AND ITS ACTIVITIES of the Law on Mandatory Deposit Guarantees Placed in Second-tier Banks of the Republic of Kazakhstan
1. An organization providing mandatory deposit guarantee is a non-profit organization established in the organizational and legal form of a joint-stock company and operating on the basis of this Law, other regulatory legal acts of the Republic of Kazakhstan and the charter.
2. The National Bank of the Republic of Kazakhstan is the founder and sole shareholder of the organization providing mandatory deposit guarantee.
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.
President
Republic of Kazakhstan
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