Article 5-3. Competence of the authorized body and the National Bank of the Republic of Kazakhstan law on real estate mortgages

Home / RLA / Article 5-3. Competence of the authorized body and the National Bank of the Republic of Kazakhstan law on real estate mortgages

1. The Authorized body exercises the following powers in relation to mortgage organizations:

1) issues licenses to mortgage organizations to carry out banking operations provided for by this law;

2) maintains a register of mortgage organizations; note of the PKAI! Subparagraph 2) is provided for exclusion by the law of the Republic of Kazakhstan dated 30.06.2025 No. 205 – VIII (entered into force on the expiration of sixty calendar days after the date of its first official publication).

3) establish prudential standards and other norms and limits that mortgage organizations are obliged to comply with;

Note of the ZKAI! Subparagraph 4) is provided for in a new version by the law of the Republic of Kazakhstan dated 30.06.2025 No. 205 – VIII (entered into force on the expiration of sixty calendar days after the date of its first official publication).

4) adopt normative legal acts mandatory for execution by mortgage organizations in the field of regulation of the activities of mortgage organizations in accordance with the goals and objectives provided for in Paragraphs 1 and 2 of Article 2-1 of this law and the legislation of the Republic of Kazakhstan. The list of bylaws is determined by the regulation on the authorized body;

5) excluded by the law of the Republic of Kazakhstan dated 03.07.2019 No. 262-VI (effective from 01.01.2020);

6) conducts an audit of the activities of mortgage organizations independently or with the involvement of other organizations;

6-1) monitors compliance by mortgage organizations with the legislation of the Republic of Kazakhstan on countering the legalization (laundering) of proceeds obtained by criminal means and the financing of terrorism;

7) perform other functions stipulated by this law, other laws of the Republic of Kazakhstan and acts of the president of the Republic of Kazakhstan.

1-1.the National Bank of the Republic of Kazakhstan, in coordination with the authorized body, determines the list, forms of reporting of mortgage organizations, terms and procedure for its submission to the National Bank of the Republic of Kazakhstan. Note of the ZKAI! Paragraph 1-1 is provided for exclusion by the law of the Republic of Kazakhstan dated 30.06.2025 No. 205 – VIII (entered into force on the expiration of sixty calendar days after the date of its first official publication).

1-2.the authorized body exercises the powers provided for in Paragraph 1 of this article in relation to a single housing construction operator in terms of activities and operations provided for in Paragraphs 1, 2, 4 of Article 5-2 and subitem 1) of item 4-1 of this law.

2.the procedure for applying measures of influence and sanctions is established by regulatory legal acts of the authorized body.

3.in case of non-fulfillment by the mortgage Organization of the requirements of the authorized body specified in the written instruction on correction of data in financial and (or) other reporting, the authorized body shall calculate prudential standards and other norms and limits that must be observed on the basis of the reporting adjusted by it.

Law of the Republic of Kazakhstan dated December 23, 1995 No. 2723.

President

Republic of Kazakhstan

Constitution Law Code Standard Decree Order Decision Resolution Lawyer Almaty Lawyer Legal service Legal advice Civil Criminal Administrative cases Disputes Defense Arbitration Law Company Kazakhstan Law Firm Court Cases