Article 7. Differentiation of responsibility of banks and the state. Independence of banks of the Law on Banks and Banking Activities in the Republic of Kazakhstan

Home / RLA / Article 7. Differentiation of responsibility of banks and the state. Independence of banks of the Law on Banks and Banking Activities in the Republic of Kazakhstan

1. Banks are not liable for the obligations of the State, just as the State is not liable for their obligations, except in the cases specified in paragraph 2 of this article, as well as cases when banks or the State assume such responsibility.

2. The State guarantees the safety of deposits accepted by interstate resident banks of the Republic of Kazakhstan and is responsible for their obligations in proportion to the share of the Government of the Republic of Kazakhstan (or its authorized state body) in the authorized capital of such banks.

3. Interference in any form by government agencies and their officials in the activities of banks is prohibited, except in cases expressly provided for by the legislation of the Republic of Kazakhstan.

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

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