Article 98. Creation of a stabilization bank and transfer to it of all or part of the assets and liabilities of the bank, which is in the regime of regulation of the Law on Banks and Banking Activities in the Republic Kazakhstan

Home / Laws / Article 98. Creation of a stabilization bank and transfer to it of all or part of the assets and liabilities of the bank, which is in the regime of regulation of the Law on Banks and Banking Activities in the Republic Kazakhstan

Article 98. Creation of a stabilization bank and transfer to it of all or part of the assets and liabilities of the bank, which is in the regime of regulation of the Law on Banks and Banking Activities in the Republic Kazakhstan

1. In order to conduct an operation for the simultaneous transfer of assets and liabilities of a bank in settlement mode to a stabilization bank, the authorized body decides to establish a stabilization bank and instructs the interim administration for the management of the bank to conduct an operation for the simultaneous transfer of all or part of the assets and liabilities of a bank in settlement mode to the stabilization bank.

2. The stabilization bank is established by a decision of the authorized body for the purpose of transferring to it, in whole or in part, the assets and liabilities of the bank in settlement mode and further selling the shares of the stabilization bank to a new investor.

3. The requirements and provisions established by Chapters 3, 5, 6, 8 and 9 of this Law, as well as Chapters 5, 6 and 7 of the Law of the Republic of Kazakhstan "On Joint Stock Companies", do not apply to the stabilization bank.

4. The Stabilization Bank shall carry out banking activities provided for by this Law on the basis of a universal banking license.

The stabilization bank shall not be entitled to carry out the activities provided for in paragraphs 2, 4, 5 and 7 of Article 23 of this Law, except for the acquisition by the stabilization bank of shares, participation interests, units or other forms of equity participation in organizations when the stabilization bank forecloses on collateral (other collateral) under a bank loan agreement and (or) receives compensation in return for fulfilling obligations under the bank loan agreement.

5. Prior to the entry into force of a court decision on the compulsory liquidation of a bank in settlement mode, the stabilization bank, in agreement with the authorized body, has the right to exchange assets and liabilities previously transferred to it for other assets and liabilities of the bank in settlement mode.

6. Provisions of the paragraphs 2, 3, 4, 5, 6, 7, 8, 9, 10, 11 Articles 97 and 12 of this Law apply to cases of simultaneous transfer of assets and liabilities of a bank in settlement mode to a stabilization bank.

7. The transfer of assets and (or) liabilities by the stabilization bank to another bank, determined by the authorized body, is carried out without the consent of depositors, other creditors, clients and (or) debtors of the stabilization bank, as well as other interested parties (including mortgagors, guarantors, guarantors).

In order to notify depositors, other creditors and clients, the stabilization bank publishes an announcement on the transfer of assets and (or) obligations of the stabilization bank to another bank in Kazakh and Russian in two periodicals distributed throughout the Republic of Kazakhstan, as well as posted on the Internet resources of the authorized body and the stabilization bank.

The conclusion and (or) execution of an agreement on the transfer of assets and (or) obligations of a stabilization bank to another bank cannot be the basis for:

1) early fulfillment or early termination of obligations transferred to another bank;

2) the occurrence of an event of non-fulfillment (default), settlement, insolvency and (or) any similar event under the agreement, under which obligations have been transferred to another bank.

8. By the decision of the authorized body, the stabilization bank ceases its activities after the full transfer of assets and liabilities assumed from the bank in settlement mode to another bank in accordance with the procedure and on the terms determined by the authorized body.

9. By the decision of the authorized body, all shares of the stabilization bank may be sold to an investor on conditions providing for an increase in the capital of the stabilization bank and its operation in accordance with the requirements of the legislation of the Republic of Kazakhstan established for a bank with a universal banking license.

The acquisition of shares of the stabilization bank by the Government of the Republic of Kazakhstan or the national management holding company is carried out in accordance with the procedure established by Article 94 of this Law.

Persons who were major participants in the bank or bank holdings at the date of the decision of the authorized body on the application of the settlement regime to the bank are not entitled to purchase shares of the stabilization bank.

From the moment the investor acquires the shares of the stabilization bank, this bank:

1) loses the status of a stabilization bank and carries out its activities in compliance with the requirements of the legislation of the Republic of Kazakhstan established for a bank with a universal banking license;

2) is subject to regulation, control and supervision by the authorized body in accordance with the requirements of the legislation of the Republic of Kazakhstan established for a bank with a universal banking license.

The Law of the Republic of Kazakhstan dated January 16, 2026 No. 258-VIII SAM.

President

Republic of Kazakhstan

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