Article 5. Affiliated companies of a bank, a branch of a non–resident bank of the Republic of Kazakhstan of the Law on Banks and Banking Activities in the Republic of Kazakhstan Kazakhstan

Home / Laws / Article 5. Affiliated companies of a bank, a branch of a non–resident bank of the Republic of Kazakhstan of the Law on Banks and Banking Activities in the Republic of Kazakhstan Kazakhstan

1. Affiliated persons of the bank are the persons defined by Article 64 of the Law of the Republic of Kazakhstan "On Joint Stock Companies", with the exception of:

persons performing the functions of a nominee holder of the bank's voting shares and (or) derivative securities issued in accordance with the legislation of the Republic of Kazakhstan or a foreign state, the underlying asset of which is the bank's voting shares, as well as issuers of these derivative securities;

cases established by paragraphs 2 and 3 of this Article.

2. The existence of the Government of the Republic of Kazakhstan and (or) the national managing holding of the status or signs of a major shareholder of the bank, as well as the participation of officials of the national managing holding in the bank's bodies, are not grounds for recognition as affiliated persons of the specified bank.:

Government of the Republic of Kazakhstan;

the national managing holding company and (or) its officials.

3. The presence of the Government of the Republic of Kazakhstan and (or) the national management holding among the shareholders of these banks is not a reason for recognizing banks as affiliated with each other.

4. The provisions of paragraphs 2 and 3 of this Article are not taken into account for the purposes of the tax legislation of the Republic of Kazakhstan and the legislation of the Republic of Kazakhstan on transfer pricing.

5. Affiliated persons of a branch of a non–resident bank of the Republic of Kazakhstan are recognized as affiliated persons of a non–resident bank of the Republic of Kazakhstan, recognized as such in accordance with the legislation of the state of which the non–resident bank of the Republic of Kazakhstan is a resident.

A branch of a non–resident bank of the Republic of Kazakhstan keeps records of its affiliated companies based on information provided by a non–resident bank 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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The Law of the Republic of Kazakhstan dated August 31, 1995 No. 2444. On banks and banking activities, with the introduction of the Law of the Republic of Kazakhstan dated January 16, 2026 No. 258-VIII, the SAM has lost its legal force.

Article 5. The organization carrying out certain types of banking operations of the Law On banks and banking activity in the Republic of Kazakhstan

Unless otherwise established by this Law, an organization performing certain types of banking operations is a legal entity that is not a bank, which, on the basis of a license from an authorized body or the National Bank of the Republic of Kazakhstan or in accordance with the laws of the Republic of Kazakhstan, is authorized to conduct certain types of banking operations provided for by this Law.

An organization engaged in certain types of banking operations submits financial and other reports to the National Bank of the Republic of Kazakhstan in accordance with the regulatory legal act of the National Bank of the Republic of Kazakhstan.

The Law of the Republic of Kazakhstan dated August 31, 1995 No. 2444.

President

Republic of Kazakhstan