Article 41-1. Digital account of the Law on Payments and Payment Systems

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1. A digital account is opened on the digital tenge platform by the National Bank of the Republic of Kazakhstan and other participants of the digital tenge platform based on the client's request to open a digital account after concluding a digital account agreement with the client.

The circulation of digital tenge, the opening and maintenance of digital accounts are carried out on the digital tenge platform of the National Bank of the Republic of Kazakhstan.

Banks, organizations engaged in certain types of banking operations, the central securities depository, the Treasury Committee of the Ministry of Finance of the Republic of Kazakhstan, other payment service providers and legal entities designated by the National Bank of the Republic of Kazakhstan may participate in the digital tenge platform on the basis of an agreement concluded with the operator of the digital tenge platform.

The application form for opening a digital account, the requirements for the content of the digital account agreement and the format of the individual identification code assigned to the digital account holder at the time of its opening are determined by the rules for issuing, circulating and redeeming digital tenge approved by the National Bank of the Republic of Kazakhstan.

Digital account maintenance includes providing the digital account holder with access to the digital account through information resources (systems) for making payments and transfers, and other types of transactions available using the digital account.

2. The following operations are performed on the digital account:

1) acceptance (crediting) of digital tenge to a digital account, including the replenishment of a digital account in return for the funds received for an equivalent amount on the terms stipulated by the digital account agreement;

2) transfer of digital tenge in favor of other digital account holders in accordance with the procedure stipulated by the digital account agreement;

3) execution of instructions from third parties on the withdrawal of digital tenge on the grounds provided for by the laws of the Republic of Kazakhstan in relation to money in bank accounts, taking into account the specifics of the functioning of smart contracts of digital tenge and marked digital tenge, determined by the National Bank of the Republic of Kazakhstan;

4) withdrawal of digital tenge from a digital account in return for issuing cash or replenishing the bank account of the client or a third party at the direction of the client for an equivalent amount on the terms stipulated in the digital account agreement;

5) providing, at the request of the digital account holder, information on the amount of the client's digital tenge on the digital account and the transactions performed in accordance with the procedure and terms stipulated by the digital account agreement;

6) providing other customer service provided for by the rules for the issuance, circulation and repayment of digital tenge, approved by the National Bank of the Republic of Kazakhstan, and (or) the digital account agreement.

Payments and transfers using digital tenge are carried out within the limits of the remaining funds on the digital account.

Opening digital savings accounts is not allowed.

3. The agreement between the participant of the digital tenge platform and the owner of the digital account must contain information about:

1) terms of use, purchase of digital tenge, replenishment of digital tenge in a digital account and withdrawal of digital tenge from a digital account;

2) the amount and procedure for charging commission fees for servicing operations using digital tenge;

3) the methods of filing claims and the procedure for their consideration, including information for contacting the participant of the digital tenge platform servicing the client's digital account;

4) liability of the parties for non-fulfillment or improper fulfillment of their obligations.

The participant of the digital tenge platform may provide additional conditions necessary for servicing the client's digital account.

4. It is allowed for a digital tenge platform participant to charge a commission fee for servicing operations of digital account holders within the limits of the amounts established by the agreement concluded with the digital account holder.

The types and maximum amounts of commission fees for participants of the digital tenge platform for servicing operations of digital account holders are established by the rules for issuing, circulating and redeeming digital tenge, approved by the National Bank of the Republic of Kazakhstan.

5. The participant of the digital tenge platform is liable to the digital account holder in accordance with the terms of the digital account agreement for damage caused to the digital account holder as a result of unauthorized access to the digital account or its unauthorized use through access to the digital account through the information resource (system) of the participant of the digital tenge platform, as well as errors or failures in the participant's software digital tenge platforms.

6. The participant of the digital tenge platform takes measures to identify and prevent fraud and the legalization (laundering) of proceeds from crime, the financing of terrorism and the financing of the proliferation of weapons of mass destruction in accordance with the requirements of the Law 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 participant of the digital tenge platform provides the authorized financial monitoring body with information and information on transactions subject to financial monitoring, in accordance with the requirements of the Law of the Republic of Kazakhstan "On Countering the Legalization (Laundering) of Proceeds from Crime, financing of terrorism and financing the proliferation of weapons of Mass Destruction."

7. Digital accounts are subject to the provisions of this Law and other laws of the Republic of Kazakhstan applicable to bank accounts regarding withdrawal of money without the client's consent, seizure and restrictions on the disposal of funds, unless otherwise provided by the laws of the Republic of Kazakhstan and regulatory legal acts of the National Bank of the Republic of Kazakhstan.

The digital account is closed in accordance with the requirements of Article 28 of this Law.

8. Information about the owners and amounts of digital tenge belonging to them, as well as about transactions made using digital tenge, is provided by the participant of the digital tenge platform to persons on the grounds and within the limits provided for in Article 69 of the Law of the Republic of Kazakhstan "On Banks and Banking Activities in the Republic of Kazakhstan".

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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