Article 8. Functions and powers of the National Bank of Kazakhstan of the Law On the National Bank of the Republic of Kazakhstan

Home / Laws / Article 8. Functions and powers of the National Bank of Kazakhstan of the Law On the National Bank of the Republic of Kazakhstan

National Bank of Kazakhstan:

1) develop and implement monetary policy;

2) issues government equity securities;

3) is a single issuer of banknotes and coins of the national currency of the Republic of Kazakhstan and organizes cash circulation in the territory of the Republic of Kazakhstan;

3-1) determines the procedure for replacing the banknotes of the national currency of the Republic of Kazakhstan in circulation when their design (shape) is changed;

3-2) determines the procedure for conducting cash transactions with individuals and legal entities in the National Bank of Kazakhstan;

3-3) is a single issuer of digital equipment;

4) participates in the transportation, storage and collection of banknotes, coins and valuables, creates reserve state funds of banknotes, coins and valuables;

5) monitors and supervises compliance with the requirements for the construction of premises by legal entities operating exclusively through revolving offices based on a license from the National Bank of Kazakhstan for revolving transactions in foreign currency cash, digital asset service providers, with the exception of digital asset service providers – 1) Article 5 of the Law of the Republic of Kazakhstan "On Digital Assets in the Republic of Kazakhstan", as well as participants in the special regulation regime of the Astana Interstate Financial Center, issuers of digital financial assets provided for in subparagraph 1) of the Law of the Republic of Kazakhstan of the National Bank of Kazakhstan, operating in the field of digital assets, legal entities whose exclusive activity is collection of banknotes, coins and valuables;

6) regulates and oversees the interbank money transfer system, the interbank clearing system and other payment systems that ensure money transfers between users in those places;

7) in order to streamline payments and money transfers, establish, in agreement with the Government of the Republic of Kazakhstan, the sequence of payments on bank accounts belonging to banks, organizations engaged in certain types of banking operations, branches of non-resident banks of the Republic of Kazakhstan and business entities, unless otherwise provided by the laws of the Republic of Kazakhstan;

8) carries out currency regulation and currency control in the Republic of Kazakhstan;

8-1) establishes qualification requirements for legal entities whose exclusive activity is the collection of banknotes, coins and valuables, which include requirements for an organizational and legal form, requirements for founders (participants), including the opening of sources of production and contributions to the authorized capital, requirements for the size and procedure for the formation of the authorized capital, and as well as premises, technical facilities, equipment and employees of legal entities whose exclusive activity is the collection of banknotes, coins and valuables;

8-2) determines the procedure for the organization of security and maintenance of premises of second-tier banks, branches of non-resident banks of the Republic of Kazakhstan, organizations engaged in certain types of banking operations;

8-3) determines the procedure for carrying out cash transactions and operations for the collection of banknotes, coins and valuables, including the organization of automobile collection transportation, in second–tier banks, branches of non-resident banks of the Republic of Kazakhstan, organizations engaged in certain types of banking operations;

8-4) jointly with other authorized state bodies of the Republic of Kazakhstan, regulates the withdrawal of cash from bank accounts by business entities;

9) excluded by the Law of the Republic of Kazakhstan dated 05/24/2018 No. 156-VI (effective ten calendar days after the date of its first official publication);

10) provides asset management in foreign currency, precious metals and digital assets;

11) implements the priority right of the state to purchase refined gold to replenish assets in precious metals;

12) performs, in cases stipulated by the legislation of the Republic of Kazakhstan, control tests of samples (samples) of precious metals and raw materials containing precious metals.;

12-1) carries out storage and testing of precious metals, with the exception of products made from them, and samples (samples) of raw materials containing precious metals owned by financial organizations and other persons authorized to carry out export-import operations with precious metals and raw materials containing precious metals;

12-2) in cases stipulated by the legislation of the Republic of Kazakhstan, carries out transportation, reception, accounting, storage of precious metals, precious stones and products made from them, converted (received) into state ownership on separate grounds;

13) independently and (or) jointly with other state bodies of the Republic of Kazakhstan, within the framework of its extensive competence, regulates systemic risks;

14) provides spaces in accordance with the Law of the Republic of Kazakhstan;

15) participates in the regulation of the external debt of financial organizations; Note! Subparagraph 15) provides for an exception from the Law of the Republic of Kazakhstan dated 30.06.2025 No. 205-VIII (effective six calendar days after the date of its first official publication).

16) develops a statistical methodology, generates and distributes statistical information on monetary statistics, financial market statistics and statistics of the external sector (balance of payments, international investment position and the outside world);

17) develops statistical forms for external sector statistics, conducts departmental statistical observations in accordance with the statistical work plan, and also exercises control in the field of state statistics within its competence;

18) generates and distributes statistical information on financial market overview, monetary and financial market statistics, balance of payments, international investment position and external debt, participates in the development of forecast balance of payments indicators; note! Subparagraph 18) provides for an exception from the Law of the Republic of Kazakhstan dated 30.06.2025 No. 205-VIII (effective six calendar days after the date of its first official publication).

18-1) collects and processes administrative data (financial and other reports) on issues of currency regulation and currency control, monetary statistics, cash circulation, payments and payment systems, regulation, control and supervision of the financial market and financial organizations and in the field of financial legislation of the Republic of Kazakhstan and determines the procedure for their submission;

19) carries out, within its competence, regulation of the financial market and financial organizations, branches of non–resident banks of the Republic of Kazakhstan, branches of insurance (reinsurance) organizations of non–residents of the Republic of Kazakhstan, branches of insurance brokers of non–residents of the Republic of Kazakhstan and other persons, as well as control and supervision of financial markets and financial organizations, branches of non–resident banks of the Republic of Kazakhstan, branches of insurance (reinsurance) organizations – non-residents of the Republic of Kazakhstan, branches of insurance brokers – non-residents of the Republic of Kazakhstan and in the field of financial legislation of the Republic of Kazakhstan in accordance with this Law, the Law of the Republic of Kazakhstan "On State Regulation, Control and Supervision of Financial Markets and Financial Organizations", other laws of the Republic of Kazakhstan and acts of the President of the Republic of Kazakhstan;

20) issues (refuses to issue), reissues, suspends, revokes the license:

for exchange operations with foreign currency in cash-to legal entities operating exclusively through exchange offices;

for the collection of banknotes, coins and valuables – to legal entities whose exclusive activity is the collection of banknotes, coins and valuables;

for dealer activity in the digital asset market – transactions for the exchange, purchase and (or) sale of unsecured digital assets to operators of the exchange of unsecured digital assets, the exclusive type of activity of which is the implementation of exchange operations with unsecured digital assets;

20-1) during the period of the state of emergency, in order to ensure the economic security and stability of the financial system of the Republic of Kazakhstan, in accordance with the acts of the President of the Republic of Kazakhstan, the introduction of a special procedure and conditions for the provision of payment services by financial organizations, payment system operators, payment organizations, including the regulation of the fees they apply;

23) determines the accounting policy and methods for the National Bank of Kazakhstan, taking into account international financial reporting standards;

24) carries out control and supervision over compliance by legal entities operating exclusively through turnover points on the basis of the license of the National Bank of Kazakhstan for turnover transactions in foreign currency in cash, the requirements of the legislation of the Republic of Kazakhstan On accounting and financial accounting, the rule of automation of accounting, as well as the requirements of the legislation of the Republic of Kazakhstan On currency regulation and currency control;

24-1) on the eve of the competition, participates in the verification of the activities of the audited entities conducted by the authorized body for regulation, control and supervision of the financial market and financial organizations;

24-2) monitors compliance by legal entities operating exclusively through revolving offices on the basis of a license from the National Bank of Kazakhstan for revolving transactions in foreign currency in cash, with the exception of digital asset service providers. – 1) Article 5 of the Law of the Republic of Kazakhstan "On Digital Assets in the Republic of Kazakhstan", as well as participants in the special regulation regime of the Astana Interstate Financial Center, issuers of digital financial assets provided for in subparagraph 1) of the Law of the Republic of Kazakhstan of the National Bank of Kazakhstan, operating in the field of digital assets, paid organizations requirements of the Law of the Republic of Kazakhstan On countering the legalization (laundering) of criminally obtained income, financing of terrorism and financing the proliferation of weapons of mass destruction in terms of recording, storing and providing information on transactions with money and (or) other property subject to financial monitoring, ensuring customer verification (financial monitoring, protection of documents obtained in the course of their activities, as well as for the organization and implementation of internal control in the field of financial activities of the government Republic of Kazakhstan;

24-3) monitors and supervises compliance by payment service providers other than banks and organizations engaged in certain types of banking operations, payment system operators and payment system operating centers with the requirements of the legislation of the Republic of Kazakhstan On payments and payment systems;

24-4) applies a risk-based approach in the framework of control and supervision of the activities of digital asset service providers, with the exception of digital asset service providers participating in the Astana International Financial Center;

25) participates in servicing the public debt of the Government of the Republic of Kazakhstan in coordination with it and services the public debt of the National Bank of Kazakhstan;

26) establishes and publishes the official exchange rate of the national currency of the Republic of Kazakhstan against foreign currencies in accordance with the procedure determined by the National Bank of Kazakhstan;

27) monitors contracts on non-governmental external loans; Note from the! Subparagraph 27) provides for an exception from the Law of the Republic of Kazakhstan dated 30.06.2025 No. 205-VIII (effective six calendar days after the date of its first official publication).

28) monitors the sources of questions and suggestions, as well as the use of foreign currency in the domestic foreign exchange market;

29) carries out banking activities, professional activities in the securities market and other activities defined by the laws of the Republic of Kazakhstan without obtaining appropriate licenses;

29-1) determines the procedure for opening, maintaining and closing metal accounts of banks, branches of non-resident banks of the Republic of Kazakhstan;

30) provides banking services to clients of the National Bank of Kazakhstan; Note from the! Subparagraph 30) is provided for by the Law of the Republic of Kazakhstan dated 30.06.2025 No. 205-VIII (effective six calendar days after the date of its first official publication).

31) carries out trust management of the National Fund of the Republic of Kazakhstan on the basis of a trust management agreement concluded between the National Bank of Kazakhstan and the Government of the Republic of Kazakhstan;

32) performs trust management of assets of legal entities on the basis of trust management agreements concluded by the National Bank of Kazakhstan with legal entities;

32-1) performs trust management of pension assets of the unified accumulative pension fund on the basis of a trust management agreement concluded between the National Bank of Kazakhstan and the unified accumulative pension fund;

32-2) provides conditions for custodial servicing in respect of pension assets of the unified accumulative pension fund;

33) submits, at the request of the authorized financial monitoring body, information from its own information systems in accordance with the Law of the Republic of Kazakhstan on Countering the Legalization (Laundering) of Proceeds from Crime and the financing of terrorism;! Subparagraph 33) provides for an exception from the Law of the Republic of Kazakhstan dated 30.06.2025 No. 205-VIII (effective six calendar days after the date of its first official publication).

34) participates in personnel training for government agencies and financial organizations of the Republic of Kazakhstan;

35) applies limited measures of influence on issues within its competence to residents and non-residents who carry out currency transactions and are not financial organizations, payment system operators, payment system operations centers, as well as paid service providers who are not banks, bank branches – non-residents of the Republic of Kazakhstan and organizations engaged in certain types of banking operations, a measure of supervisory regulation for legal entities operating exclusively through revolving offices on the basis of a license from the National Bank of Kazakhstan for exchange operations with foreign currency in cash, and legal entities whose exclusive activity is the collection of banknotes, coins and valuables, as well as sanctions and other measures provided for by the legislation of the Republic of Kazakhstan, and determines the procedure;

35-1) introduces a special regulatory regime for payment organizations and (or) other legal entities that are not financial organizations in order to carry out activities related to payment conditions, and regulates their activities;

36) purchases goods, works, and services in accordance with the procedure established by regulatory legal acts of the National Bank of Kazakhstan;

37) assigns, cancels and determines the use of bank identification codes, assigns and cancels codes of banks and organizations engaged in certain types of banking operations, and codes of branches of banks and organizations engaged in certain types of banking operations, establishes a large structure, and also forms and maintains a directory of banks and organizations engaged in certain types of banking operations;

37-1) excluded by the Law of the Republic of Kazakhstan dated 13.03.2017 No. 53-VI (effective ten calendar days after the date of its first official publication);

38) creates consultative and advisory bodies of the National Bank of Kazakhstan;

38-1) in order to ensure complete information contained in the database of credit histories, provides information about the subjects of credit history to a credit bureau with a state site; Note from the! Subparagraph 38-1) is provided for by the Law of the Republic of Kazakhstan dated 30.06.2025 No. 205-VIII (effective six calendar days after the date of its first official publication).

38-2) cooperates with central banks, control and supervisory authorities of other states, international and other organizations to the extent possible and has the right to exchange confidential information with them, constituting a commercial secret on the securities market, banking secrecy, insurance secrecy or other legally protected secret necessary for the exercise of control and supervisory functions, on the basis and in accordance with the international agreements of the Republic of Kazakhstan, the agreement providing for the exchange of confidential information.

Other organizations specified in the first part of this subparagraph are understood as facilities of central banks, control and supervisory authorities of other states established with the aim of developing common standards for regulating the activities of the banking sector, the securities market and the insurance market.;

38-3) conduct research in the field of monetary policy, financial stability and other areas related to its activities;

38-4) approves mandatory financial organizations, branches of non–resident banks of the Republic of Kazakhstan, branches of insurance (reinsurance) organizations of non–residents of the Republic of Kazakhstan, branches of insurance brokers of non–residents of the Republic of Kazakhstan, other individuals and legal entities in the territory of the Republic of Kazakhstan regulatory legal acts in accordance with this law and the legislation of the Republic of Kazakhstan;

38-5) carries out state regulation, control and supervision of the activities of operators of the exchange of unsecured digital assets, operators of digital financial asset platforms, operators of digital asset trading platforms, organizations for the storage of digitized financial assets;

38-6) approves regulatory legal acts that are mandatory for the exchange of unsecured digital assets, operators of digital financial asset platforms, operators of digital asset trading platforms, and custody organizations 1) Article 5 of the Law of the Republic of Kazakhstan "On Digital Assets in the Republic of Kazakhstan"On Amendments to the Law of the Republic of Kazakhstan" On amendments to the Law of the Republic of Kazakhstan "On Amendments to the Law of the Republic of Kazakhstan" On amendments to the Law of the Republic of Kazakhstan "On Amendments to the Law of the Republic of Kazakhstan" On amendments to the Law of the Republic of Kazakhstan "On Amendments to the Law of the Republic of Kazakhstan" On amendments to the Law of the Republic of Kazakhstan "On Amendments to the Law of the Republic of Kazakhstan" On amendments to the Law of the Republic of Kazakhstan "On Amendments to the Law of the Republic of Kazakhstan" On amendments to the Law of the Republic of Kazakhstan " On Amendments to the Law of the Republic of Kazakhstan;

38-7) defines the procedure for conducting transactions for the purchase, sale and (or) replacement of unsecured digital assets by the operator of the exchange of unsecured digital assets;

38-8) performs accounting registration of digital financial asset platform operators, digital asset trading platform operators, and payment organizations;

39) performs other functions and powers provided for by this Law, other laws of the Republic of Kazakhstan and acts of the President of the Republic of Kazakhstan.

The Law of the Republic of Kazakhstan dated March 30, 1995 No. 2155.

President

Republic of Kazakhstan

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