Article 7. Legal status of the Bank of the Law on Banks and Banking Activities in the Republic Kazakhstan

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1. The Bank is established in the form of a joint-stock company, taking into account the specifics established by the banking legislation of the Republic of Kazakhstan.

2. The official status of a bank is determined by the state registration (re–registration) of a legal entity as a bank in the Government for Citizens State Corporation (hereinafter referred to as the State Corporation), carried out on the basis of the permission of the authorized body to open a bank or the permission of the authorized body for the voluntary reorganization of a microfinance organization in the form of conversion into a bank, and the availability of a banking license.

3. The name of the bank must comply with the following requirements:

1) contain the word "bank" or a word derived from it;

2) do not use the words "national", "central", "state", "republican" in full or abbreviated form in any language;

3) not to use words and (or) designations that are identical or confusingly similar to the names of previously established banks, including non–resident banks of the Republic of Kazakhstan, with the exception of the names of subsidiary banks;

4) contain the name of the parent bank (for the name of the subsidiary bank);

5) contain the phrase "Islamic bank" (for the name of the Islamic bank).

4. The location of the bank is the location (postal address) of the Management Board of the bank.

5. The charter of an Islamic bank and the charter of a bank with a universal banking license engaged in Islamic banking operations, in addition to the information provided by the Law of the Republic of Kazakhstan "On Joint Stock Companies", must contain a description of the functions and procedure for establishing a permanent body of the bank – the Council on the principles of Islamic finance.

6. In the event of a change in the name of the bank and (or) its location, the bank must, within fourteen calendar days from the date of state registration of such changes or from the date of notification to the State Corporation of such changes in cases where state registration is not required, submit copies of documents confirming such changes to the authorized body.

7. The liquidated bank shall lose its official status as a bank from the date of state registration of the termination of its activities in a State Corporation carried out in accordance with the procedure established by the legislation 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 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.

President

Republic of Kazakhstan