Article 74-5. Termination of the activities of 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 -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.
1. Termination of the activities of a branch of a non-resident bank of the Republic of Kazakhstan is carried out in accordance with this Law and other regulatory legal acts of the Republic of Kazakhstan.
Termination of the activities of a branch of a non-resident bank of the Republic of Kazakhstan may be carried out:
1) by a decision of a non-resident bank of the Republic of Kazakhstan on the basis of a permit from the financial supervisory authority of the state of which the non-resident bank of the Republic of Kazakhstan is a resident, or a statement from the financial supervisory authority of the relevant state stating that such permission is not required under the legislation of a non-resident bank of the Republic of Kazakhstan, subject to the permission of the authorized body (voluntary termination of operations);
2) on the basis of a decision of the authorized body to revoke the license or a court decision in the cases provided for in paragraph 4 of this article (compulsory termination of activities).
2. In order to ensure the interests of creditors and make decisions with their participation in the procedures for the voluntary and compulsory termination of the activities of branches of non-resident banks of the Republic of Kazakhstan, a creditors' committee is being established.
The composition of the creditors' committee for voluntarily or forcibly terminating the activities of a branch of a non-resident bank of the Republic of Kazakhstan is approved by the authorized body on the recommendation of the liquidation commission of a branch of a non-resident bank of the Republic of Kazakhstan. The specifics of the formation and activity of the creditors' committee are established by the regulatory legal acts of the authorized body.
3. After a decision is made by a non-resident bank of the Republic of Kazakhstan to voluntarily terminate the activities of a branch of a non-resident bank of the Republic of Kazakhstan, a branch of a non-resident bank of the Republic of Kazakhstan must take measures to repay deposits from individuals by paying them directly or transferring them to a bank or branch of a non-resident bank of the Republic of Kazakhstan that are participants in the mandatory deposit guarantee system.
A non-resident bank of the Republic of Kazakhstan has the right to apply to the authorized body with a request for permission to voluntarily terminate the activities of a branch of a non-resident bank of the Republic of Kazakhstan after the repayment of deposits from individuals and (or) transfer to a bank or branch of a non-resident bank of the Republic of Kazakhstan that are participants in the mandatory deposit guarantee system.
The application must be accompanied by a list of measures on the timing and stages of preparation of a branch of a non-resident bank of the Republic of Kazakhstan for termination of its activities, approved by the relevant body of a non-resident bank of the Republic of Kazakhstan, a report on assets and liabilities, indicating the sufficiency of funds of a branch of a non-resident bank of the Republic of Kazakhstan to settle its obligations, and other necessary information, a list of which are established by a regulatory legal act of the authorized body.
The procedure for granting permission for the voluntary termination of the activities of a branch of a non-resident bank of the Republic of Kazakhstan, as well as the return of deposits from individuals, their transfer to a bank or branch of a non-resident bank of the Republic of Kazakhstan that are participants in the mandatory deposit guarantee system, is determined by a regulatory legal act of the authorized body.
The voluntary termination of the activities of a branch of a non-resident bank of the Republic of Kazakhstan is carried out in accordance with the procedure provided for in paragraphs 2, 2-1 and 5 of Article 69 of this Law.
Upon receipt of a permit for voluntary termination of operations, a branch of a non-resident bank of the Republic of Kazakhstan creates a liquidation commission.
The specifics of the activities of liquidation commissions of branches of non-resident banks of the Republic of Kazakhstan that voluntarily terminate their activities are determined by regulatory legal acts of the authorized body.
The liquidation commission is obliged to submit the report on the liquidation of a branch of a non-resident bank of the Republic of Kazakhstan to the authorized body within seven calendar days after the approval of the report on the liquidation of a branch of a non-resident bank of the Republic of Kazakhstan. The authorized body decides on the completion of the procedure for the voluntary termination of the activities of a branch of a non-resident bank of the Republic of Kazakhstan.
Upon completion of the procedure for the voluntary termination of the activities of a branch of a non-resident bank of the Republic of Kazakhstan, the liquidation commission is obliged to hand over the documents for storage to the archive in accordance with the established procedure and notify the authorized body accordingly.
Satisfaction of creditors' claims of a branch of a non-resident bank of the Republic of Kazakhstan and all expenses related to the voluntary termination of the activities of a branch of a non-resident bank of the Republic of Kazakhstan are made only from the funds of a non-resident bank of the Republic of Kazakhstan, with the exception of assets of a branch of a non-resident bank of the Republic of Kazakhstan accepted as a reserve.
The assets of a branch of a non-resident bank of the Republic of Kazakhstan accepted as a reserve are used by a non-resident bank of the Republic of Kazakhstan after satisfying the claims of all creditors of a branch of a non-resident bank of the Republic of Kazakhstan.
4. The compulsory termination of the activities of a branch of a non-resident bank of the Republic of Kazakhstan is carried out in connection with the withdrawal by the authorized body of the license to conduct banking and other operations of a branch of a non-resident bank of the Republic of Kazakhstan on the grounds provided for by this Law, including in connection with the decision of the competent authority of the state of which the non-resident bank of the Republic of Kazakhstan is a resident, on the deprivation of a non-resident bank of the Republic of Kazakhstan of a license to conduct banking activities and (or) the forced liquidation (termination of activity) of a non-resident bank of the Republic of Kazakhstan.
The compulsory termination of the activities of a branch of a non-resident bank of the Republic of Kazakhstan is also carried out by a court in connection with an application (claim) by authorized state bodies, individuals or legal entities to terminate the activities of a branch of a non-resident bank of the Republic of Kazakhstan on other grounds provided for by the laws of the Republic of Kazakhstan.
The court's decision on the compulsory termination of the activities of a branch of a non-resident bank of the Republic of Kazakhstan is sent to the authorized body for conducting the procedure for termination of the activities of a branch of a non-resident bank of the Republic of Kazakhstan in accordance with the procedure established by this article. From the date of entry into force of the court decision on the compulsory termination of the activities of a branch of a non-resident bank of the Republic of Kazakhstan on the grounds specified in part two of this paragraph, the branch of a non-resident bank of the Republic of Kazakhstan is deprived of its license to conduct banking and other operations.
5. From the date of revocation of a license for banking and other operations by a branch of a non-resident bank of the Republic of Kazakhstan, the authorized body appoints a liquidation commission of a branch of a non-resident bank of the Republic of Kazakhstan, which carries out the procedure for compulsory termination of the activities of a branch of a non-resident bank of the Republic of Kazakhstan.
The liquidation commission of a branch of a non-resident bank of the Republic of Kazakhstan that is forcibly ceasing operations takes measures to ensure settlements with its creditors.
From the date of revocation of the license to conduct banking and other operations of a branch of a non-resident bank of the Republic of Kazakhstan:
1) all transactions on bank accounts of clients and the branch of a non-resident bank of the Republic of Kazakhstan are terminated, except in cases related to:
expenses related to the forced termination of the activities of a branch of a non-resident bank of the Republic of Kazakhstan provided for by regulatory legal acts of the authorized body;
by crediting money received in favor of a branch of a non-resident bank of the Republic of Kazakhstan;
refund of money received and received in favor of persons whose bank accounts are closed, as well as money received and received according to erroneous instructions;
expenses related to the execution of clients' instructions on money transfers to their bank accounts after the withdrawal of a license from a branch of a non-resident bank of the Republic of Kazakhstan, provided that the client has no debt to a non-resident bank of the Republic of Kazakhstan or the client repays existing debt to a non-resident bank of the Republic of Kazakhstan;
2) the powers of senior employees of a branch of a non-resident bank of the Republic of Kazakhstan are terminated, senior and, if necessary, other employees of a branch of a non-resident bank of the Republic of Kazakhstan are suspended and dismissed in accordance with the labor legislation of the Republic of Kazakhstan.;
3) the founders (participants), bodies of a non-resident bank of the Republic of Kazakhstan, and senior employees are not entitled to dispose of the property of a non-resident bank of the Republic of Kazakhstan located in the territory of the Republic of Kazakhstan;
4) it is not allowed to recover money from the bank accounts of a branch of a non-resident bank of the Republic of Kazakhstan on the claims of creditors, state revenue authorities, including those subject to satisfaction in an undisputed manner, as well as foreclosure on the property of a non-resident bank of the Republic of Kazakhstan located in the territory of the Republic of Kazakhstan;
5) the execution of earlier court decisions regarding a branch of a non-resident bank of the Republic of Kazakhstan is suspended;
6) obligations to repay the principal debt, remuneration and penalties (fines, penalties) are fulfilled by debtors of a branch of a non-resident bank of the Republic of Kazakhstan in accordance with concluded bank loan agreements and other transactions.
The procedure for the compulsory termination of the activities of a branch of a non-resident bank of the Republic of Kazakhstan is carried out in accordance with paragraphs 3, 4, 4-1, 5 and 6 of Article 73 and Article 74-2 of this Law.
Satisfaction of creditors' claims of a branch of a non-resident bank of the Republic of Kazakhstan and all expenses related to the forced termination of the activities of a branch of a non-resident bank of the Republic of Kazakhstan are made only from the funds of a non-resident bank of the Republic of Kazakhstan, including assets of a branch of a non-resident bank of the Republic of Kazakhstan accepted as a reserve.
It is prohibited for the authorized body to finance expenses related to the forced termination of the activities of a branch of a non-resident bank of the Republic of Kazakhstan, with the exception of expenses related to the remuneration of employees of the authorized body included in the liquidation commission of a branch of a non-resident bank of the Republic of Kazakhstan.
The procedure for the appointment and dismissal of liquidation commissions forcibly terminating the activities of branches of non-resident banks of the Republic of Kazakhstan, the requirements for the chairman and members of the liquidation commission, as well as the procedure for the compulsory termination of the activities of a branch of a non-resident bank of the Republic of Kazakhstan and the requirements for the work of liquidation commissions are determined by regulatory legal acts of the authorized body.
The rights and duties of the chairman and a member of the liquidation commission, including the right to remuneration, the scope of powers to manage the affairs and property of a branch of a non-resident bank of the Republic of Kazakhstan that is being forcibly terminated, are regulated by regulatory legal acts of the authorized body and an agreement concluded with them by the creditors' committee, taking into account the requirements established by the legislation of the Republic of Kazakhstan.
The monthly amount of remuneration paid to the chairman, members of the liquidation commission of a branch of a non-resident bank of the Republic of Kazakhstan and other involved employees should not exceed for each of them the amount of ten times the minimum wage established by the law on the republican budget and effective on January 1 of the relevant financial year.
The liquidation bankruptcy estate of a branch of a non-resident bank of the Republic of Kazakhstan is formed in accordance with the procedure established by a regulatory legal act of the authorized body.
The liquidation bankruptcy estate of a branch of a non-resident Islamic bank of the Republic of Kazakhstan does not include property acquired with money raised under an investment deposit agreement. The specified property, as well as obligations on investment deposits, are subject to transfer by the liquidation commission to another Islamic bank or a branch of a non-resident Islamic bank of the Republic of Kazakhstan.
The procedure for selecting an Islamic bank, a branch of a non-resident Islamic bank of the Republic of Kazakhstan and transferring to them property acquired with money raised under an investment deposit agreement and obligations under investment deposits of a branch of a non-resident Islamic bank of the Republic of Kazakhstan that is forcibly ceasing operations is established by a regulatory legal act of the authorized body.
To satisfy the creditors' claims of a branch of a non-resident bank of the Republic of Kazakhstan, the liquidation commission of a branch of a non-resident bank of the Republic of Kazakhstan that is forcibly ceasing operations has the right to use the assets of a branch of a non-resident bank of the Republic of Kazakhstan, including those accepted as reserves, and money in bank accounts opened for the operation of a branch of a non-resident bank of the Republic of Kazakhstan.
If the assets of a branch of a non-resident bank of the Republic of Kazakhstan are insufficient, including those accepted as reserves, the non-resident bank of the Republic of Kazakhstan satisfies the creditors' claims of the branch of a non-resident bank of the Republic of Kazakhstan in accordance with a written commitment (confirmation) previously submitted to the authorized body in accordance with subparagraph 3) paragraph 2-2 of Article 26 of this Law.
The authorized body approves the liquidation report and decides on the completion of the procedure for the compulsory termination of the activities of a branch of a non-resident bank of the Republic of Kazakhstan.
Upon completion of the procedure for the compulsory termination of the activities of a branch of a non-resident bank of the Republic of Kazakhstan, the liquidation commission is obliged to hand over the documents for storage to the archive in accordance with the established procedure and notify the authorized body accordingly.
After de-registration of a branch of a non-resident bank of the Republic of Kazakhstan, the liquidation commission of the branch of a non-resident bank of the Republic of Kazakhstan that is forcibly ceasing operations shall, within five working days, submit to the authorized body a copy of the certificate of de-registration of the branch.
6. In case of deprivation of a non-resident bank branch of the Republic of Kazakhstan of a license to conduct banking and other operations on the grounds of deprivation of a non-resident bank of the Republic of Kazakhstan of a license to conduct banking activities and (or) compulsory liquidation (termination) of a non-resident bank of the Republic of Kazakhstan, the procedure for compulsory termination of a branch of a non-resident bank of the Republic of Kazakhstan is carried out taking into account the following features:
1) the provisions of paragraph fourteen of paragraph 5 of this Article shall not apply;
2) the creditors' claims of a branch of a non-resident bank of the Republic of Kazakhstan are satisfied by the liquidation commission of the branch of a non-resident bank of the Republic of Kazakhstan that forcibly terminates its activities in accordance with Article 74-2 of this Law at the expense of the assets of the branch of a non-resident bank of the Republic of Kazakhstan, including those accepted as reserves, and money in bank accounts opened for the activities of the branch of the bank-non-resident of the Republic of Kazakhstan;
3) in case of insufficient assets of a branch of a non-resident bank of the Republic of Kazakhstan, including those accepted as reserves, and money in bank accounts opened for the activities of a branch of a non-resident bank of the Republic of Kazakhstan, creditors of a branch of a non-resident bank of the Republic of Kazakhstan are satisfied in accordance with the procedure provided for by the legislation of the state of which the non-resident bank is a resident Of the Republic of Kazakhstan.
The exchange of information between the authorized body and the financial supervisory authority of the state of which the non-resident bank of the Republic of Kazakhstan is a resident on the progress and results of the liquidation procedure of the non-resident bank of the Republic of Kazakhstan is carried out on the basis and in accordance with the procedure provided for by the agreement on the exchange of information between the authorized body and the financial supervisory authority of the state of which the non–resident bank of the Republic of Kazakhstan is a resident.
7. The authorized body shall monitor the activities of liquidation commissions that voluntarily and forcibly terminate the activities of branches of non-resident banks of the Republic of Kazakhstan in accordance with Article 74-4 of this Law.
The Law of the Republic of Kazakhstan dated August 31, 1995 No. 2444.
President
Republic of Kazakhstan
© 2012. RSE na PHB "Institute of Legislation and Legal Information of the Republic of Kazakhstan" of the Ministry of Justice of the Republic of Kazakhstan
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