Article 5. Prudential standards and other mandatory norms and limits of the Law on State Regulation, Control and Supervision of the Financial Market and Financial Organizations

Home / RLA / Article 5. Prudential standards and other mandatory norms and limits of the Law on State Regulation, Control and Supervision of the Financial Market and Financial Organizations

Prudential standards are economic restrictions established by the authorized body for financial organizations, branches of non-resident banks of the Republic of Kazakhstan, branches of insurance (reinsurance) organizations that are non-residents of the Republic of Kazakhstan, branches of insurance brokers that are non-residents of the Republic of Kazakhstan in order to ensure their financial stability and protect the interests of consumers of financial services.

In cases stipulated by the legislative acts of the Republic of Kazakhstan, the authorized body has the right to establish prudential standards and other mandatory norms and limits on a consolidated basis.

The Law of the Republic of Kazakhstan dated July 4, 2003 No. 474-II.

This Law regulates public relations related to the implementation of state regulation, control and supervision of the financial market and financial organizations, and is aimed at increasing the stability of the financial system of the Republic of Kazakhstan and creating conditions to prevent violations of the rights and legitimate interests of consumers of financial services.

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Republic of Kazakhstan

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