Article 49. Persons connected with a bank, a banking conglomerate, a branch of a non–resident bank of the Republic of Kazakhstan by special relations of the Law on Banks and Banking Activities in the Republic Kazakhstan

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Article 49. Persons connected with a bank, a banking conglomerate, a branch of a non–resident bank of the Republic of Kazakhstan by special relations of the Law on Banks and Banking Activities in the Republic Kazakhstan

1. Persons connected with the bank by special relations are recognized as:

1) officials, senior employees, managers and permanent members of the committees of the Board of Directors and (or) other bodies of this bank, whose powers include making decisions on the alienation of assets, changing the subject of collateral and (or) termination of collateral (except in cases of repayment by the debtor of obligations to the bank secured by collateral, or collection of collateral by the bank), decisions on issuing bank loans and (or) bank guarantees (sureties) in amounts higher than those established by the authorized body, as well as their spouses and close relatives;

2) persons who are major participants in the bank (bank holding companies), major participants in the bank holding company;

3) officials of a major participant in a bank (bank holding company), a major participant in a bank holding company, as well as their spouses and close relatives;

4) organizations in which the persons specified in subitems 1), 2) and 3) of this paragraph directly and (or) indirectly own and (or) use and (or) dispose of ten or more percent of voting shares, participation interests, units or other forms of equity participation, or are officials;

5) affiliated companies of the bank;

6) members of the banking conglomerate;

7) an individual or an organization that meets the criteria of a special relationship with the bank established by the authorized body.

2. The authorized body has the right to classify an individual or an organization as having a special relationship with the bank by using a reasoned judgment. In this case, this individual or organization is recognized by the bank as a person with a special relationship with it from the date the bank receives the appropriate supervisory response from the authorized body.

3. The procedure for recognizing persons associated with a bank, a banking conglomerate, or a branch of a non–resident bank of the Republic of Kazakhstan as special relations is determined by a regulatory legal act of the authorized body and includes:

1) the amounts of bank loans and bank guarantees, the decision–making on the issuance of which is within the powers of officials, senior staff, heads and permanent members of committees of the board of directors and (or) other bodies of this bank, a non–resident bank of the Republic of Kazakhstan, a branch of a non-resident bank of the Republic of Kazakhstan, in excess of which these persons are recognized as persons, special relations related to the bank, a branch of a non–resident bank of the Republic of Kazakhstan;

2) signs of a special relationship between an individual or an organization and a bank or a branch of a non–resident bank of the Republic of Kazakhstan;

3) the list of persons who are not recognized as persons associated with a bank, a branch of a non–resident bank of the Republic of Kazakhstan by special relations;

4) the list of persons connected with the banking conglomerate by special relations.

4. The Bank is obliged to keep records of persons connected with the bank by special relations.

For the purposes of the specified accounting:

1) the persons specified in subitems 1) and 3) of paragraph 1 of this Article shall submit to the bank information about their spouses and close relatives, as well as about the organizations specified in subitem 4) of paragraph 1 of this Article.;

2) the persons specified in subparagraph 2) of paragraph 1 of this Article shall provide information on (about):

their spouses and close relatives (for a major participant in a bank or a major participant in a bank holding company who are individuals);

their officials (for a major participant in a bank (bank holding company), a major participant in a bank holding company that are legal entities);

organizations specified in subparagraph 4) of paragraph 1 of this Article.

The information provided for in the second part of this paragraph shall be submitted to the bank within seven working days from the date of the establishment of a special relationship with the bank.

5. For the purposes of recognizing persons associated with a branch of a non–resident bank of the Republic of Kazakhstan as special relations:

A bank in subparagraph 1) of paragraph 1 of this Article means a branch of a non–resident bank of the Republic of Kazakhstan and (or) a non–resident bank of the Republic of Kazakhstan.;

A bank in subparagraph 2) of paragraph 1 of this Article means a non–resident bank of the Republic of Kazakhstan.;

A bank in subitems 5) and 7) of paragraph 1 of this Article means a branch of a non–resident bank of the Republic of Kazakhstan.

6. The requirements of paragraphs 1, 2, 3 and 4 of this article apply to organizations engaged in certain types of banking operations.

The requirement of paragraph 4 of this Article applies to branches of non–resident banks of the Republic of Kazakhstan.

The Law of the Republic of Kazakhstan dated January 16, 2026 No. 258-VIII SAM.

President

Republic of Kazakhstan

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