Article 7. Use and allocation of funds of the Law on Housing Construction Savings in the Republic of Kazakhstan

Home / RLA / Article 7. Use and allocation of funds of the Law on Housing Construction Savings in the Republic of Kazakhstan

1. In order to ensure the fulfillment of obligations to depositors to provide them with a contractual amount or the amount of accumulated money, the housing construction savings bank has the right to attract borrowed funds in the financial market.

Own and borrowed funds are used by housing construction savings banks to carry out activities provided for by this Law.

Housing construction savings cannot be used to provide advance housing loans.

2. The placement of free money by housing construction savings banks is carried out in accordance with the banking legislation of the Republic of Kazakhstan.

The Law of the Republic of Kazakhstan dated December 7, 2000 No. 110.

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