On amendments and additions to certain legislative acts of the Republic of Kazakhstan on the improvement and digitalization of the financial market, bankruptcy, as well as the assessment of government agencies

The Law of the Republic of Kazakhstan dated July 23, 2026 No. 352-VIII SAM.

  Article 1. To make amendments and additions to the following legislative acts of the Republic of Kazakhstan:

     1. To the Civil Code of the Republic of Kazakhstan (special part) dated July 1, 1999:

     in subparagraph 11) of the third part of paragraph 1 of Article 740 and subparagraph 5-4) of the second part of Article 741, the words "for interbank payments and (or) money transfers made on the territory of the Republic of Kazakhstan using payment cards" should be replaced by the words "in payment systems operated by the National Bank of the Republic of Kazakhstan or a legal entity of the National Bank of the Republic of Kazakhstan, performing operational, technological and other functions defined by the National Bank of the Republic of Kazakhstan, to ensure the functioning of the national digital financial infrastructure."

     2. To the Business Code of the Republic of Kazakhstan dated October 29, 2015:

     "1") add the words "credit rating agencies" to the second part of paragraph 4 of Article 112-1 after the words "credit bureaus,";

     "2") paragraph 11 of Article 129 after the words "payment organizations," add the words "credit rating agencies,";

     3) add subparagraph 25) to Article 139 as follows:

     "25) for credit rating activities.".

     3. To the Civil Procedure Code of the Republic of Kazakhstan dated October 31, 2015:

     in the second part of subparagraph 1) of paragraph 1 of Article 156, the words "for interbank payments and (or) money transfers made on the territory of the Republic of Kazakhstan using payment cards" should be replaced by the words "in payment systems operated by the National Bank of the Republic of Kazakhstan or a legal entity of the National Bank of the Republic of Kazakhstan engaged in operational, technological and other the functions defined by the National Bank of the Republic of Kazakhstan to ensure the functioning of the national digital financial infrastructure."

     4. To the Budget Code of the Republic of Kazakhstan dated March 15, 2025:

     1) the entire text has been changed in Kazakh, the text in Russian does not change;

     2) the third paragraph of paragraph 1 of Article 46 shall be worded as follows:

     "assessment of the achievement of the goals of the development plans of state bodies and development plans of the capital, regions, cities of republican significance and the achievement of the final results provided for in the passports of budget programs, conducted in accordance with the procedure and deadlines established by the legislation of the Republic of Kazakhstan on state audit and financial control, as part of the subsequent budget assessment provided for in Article 44 of this Code;";

     3) in article 75:

     ""in the second part of paragraph 12, the words "evaluation of the effectiveness of government agencies in achieving the goals of the development plans of government agencies and in achieving the results of the passports of budget programs" should be replaced by the words "subsequent evaluation of the budget provided for in Article 44 of this Code";

     add ""the following words to the first paragraph of paragraph 13 after the words "43 of this Code," "the subsequent budget assessment provided for in Article 44 of this Code,";

     4) paragraph 1 of Article 101 should be supplemented with parts three and four as follows:

     "The budget for expenditures in the form of a digital tenge is executed in accordance with the list approved by the Government of the Republic of Kazakhstan.

     The procedure for budget execution using digital tenge is determined by the central authorized body for budget execution.";

     5) the first part of paragraph 2 of Article 104 shall be worded as follows:

     "2. Treasury support is the activity of carrying out ongoing control in accordance with Article 110 of this Code over the targeted use of funds allocated for advance payments in the implementation of budget investment projects related to the construction and reconstruction of facilities, when making payments through cash control accounts, including those implemented by quasi–public sector entities.";

     6) in subparagraph 10) of paragraph 3 of Article 106, the word "state" should be deleted;

     7) in article 110:

     in paragraph 1:

     add "", including using the digital tag," to the first part after the word "obligations".;

     Add "", including using digital tags," to the second part after the word "procurement".;

     in paragraph 2, the words "quasi-public sector entity for the implementation (implementation) of the pilot project," should be deleted;

     in paragraph 3:

     in part five, the words "quasi-public sector entity for the implementation (implementation) of the pilot project," should be deleted;

     In the first paragraph of the eleventh part, the word "state" should be deleted.;

     8) in paragraph 2 of article 112:

     In part one, the word "state" should be deleted.;

     in part two:

     delete the word "state";

     after "contractor", add the words "or quasi-public sector entity".;

     9) add the words ", except for "turnkey" construction and reconstruction projects" to the third paragraph of paragraph 8 of Article 149.

     5. To the Digital Code of the Republic of Kazakhstan dated January 9, 2026:

     in article 95:

     Paragraph 2 should be worded as follows:

     "2. The digital development index is determined within the framework of the digital development index methodology approved by the authorized body in coordination with the Supreme Audit Chamber of the Republic of Kazakhstan.";

     Delete paragraph 3.

     6. To the Law of the Republic of Kazakhstan dated March 30, 1995 "On the National Bank of the Republic of Kazakhstan":

     1) in article 8:

     Add sub-paragraphs 6-1), 6-2) and 6-3) as follows:

     "6-1) establishes the qualification requirements for payment organizations of the first category, including the requirements for the organizational and legal form, for the founders (participants) and the beneficial owner, including disclosure of the sources of origin of their contributions to the authorized capital, for senior staff, requirements for their impeccable business reputation, the size and procedure for the formation of the authorized capital, internal documents and regulations of a payment organization of the first category regulating its activities;

     6-2) approves prudential standards and other mandatory norms and limits for payment organizations of the first category, their limits and calculation methods;

     6-3) determines the procedure, cases and conditions for using the money of customers of payment organizations of the first category held in bank accounts;";

     subparagraph 20) should be supplemented with the following second paragraph:

     "to carry out the activities of a payment organization of the first category for the provision of payment services and certain types of banking operations (opening and maintaining bank accounts of legal entities, transfer operations: following instructions from legal entities on payments and money transfers);";

     "subparagraph 24") after the words "foreign currency," add the words "payment organizations of the first category.";

     ""(except for payment organizations of the first category), add the words "(except for payment organizations of the first category) after the words "banking operations".;

     "subparagraph 35") after the words "supervisory response measures to", add the words "payment organizations of the first category,";

     2) in paragraph 2 of article 15:

     ""in subparagraph 17), the words "as well as the registration of payment organizations" should be replaced by the words "payment organizations of the first category, as well as the registration of payment organizations of the second category";

     Replace "informational" with "digital" in subparagraph 18);

     "3)"in subparagraph 10) of paragraph 2 of Article 20-4, the words "automated information systems" should be replaced by the word "digital";

     """"""4) in the second and third parts of Article 70, the words "informational" and "informational" should be replaced, respectively, with the words "digital" and "digital".

     7. To the Law of the Republic of Kazakhstan dated December 7, 2000 "On Housing Construction Savings in the Republic of Kazakhstan":

     Add paragraph 2-1 to article 5 as follows:

     "2-1. The housing construction savings bank, in accordance with the license of the authorized body for regulation, control and supervision of the financial market and financial organizations, is entitled to carry out Islamic banking operations provided for in subparagraph 1), paragraphs 1 and 2 of subparagraph 2), subparagraphs 3) and 7) of the first paragraph of paragraph 4 of Article 22 of the Law of the Republic of Kazakhstan "On Banks and Banking activities in the Republic of Kazakhstan", in compliance with the principles of Islamic banking operations, established by Article 35 of the Law of the Republic of Kazakhstan "On Banks and Banking Activities in the Republic of Kazakhstan".".

     8. To the Law of the Republic of Kazakhstan dated December 18, 2000 "On Insurance Activities":

     "1)"in the first part of paragraph 12 of Article 20, the word "cybersecurity" should be replaced by the words "information security in the financial sector, including cybersecurity".;

     "2)"in subparagraph 25) of article 43, the word "cybersecurity" should be replaced by the words "ensuring information security in the financial sector, including cybersecurity.";

     3) in paragraph 3 of article 48:

     subparagraph 1) add the following fifth paragraph:

     "credit rating agencies;";

     subparagraph 2) add the following third paragraph:

     "credit rating agencies;";

     4) in paragraph 5 of article 74:

     ""Digital infrastructure" should be replaced with the words "information and communication infrastructure" in the first part.;

     ""In Part three, the words "information and communication technologies and information security" should be replaced with the words "digitalization and cybersecurity".

9. To the Law of the Republic of Kazakhstan dated April 25, 2001 "On the Development Bank of Kazakhstan":

     Paragraph 1 of Article 6 should be supplemented with the words ", as well as the procedures for resolving insolvent banks provided for by the Law of the Republic of Kazakhstan "On Banks and Banking Activities in the Republic of Kazakhstan".

     10. To the Law of the Republic of Kazakhstan dated March 28, 2003 "On Credit Partnerships":

     Replace "month" with "quarter" in the first part of paragraph 4 of Article 10.

     11. To the Law of the Republic of Kazakhstan dated May 13, 2003 "On Joint-Stock Companies":

     "1)"in paragraph 3 of article 40, the word "information and communication technology" should be replaced by the word "digital".;

     "2)"in the second part of paragraph 2 of Article 41, the word "electronic" should be replaced by the word "digital".;

     "3)"in subparagraph 2) of the first part of paragraph 4 of Article 49, the word "electronic" should be replaced by the word "digital".;

     "4") in the first part of paragraph 1 of Article 80, the word "electronic" should be replaced by the word "digital".

     12. To the Law of the Republic of Kazakhstan dated July 1, 2003 "On compulsory insurance of civil liability of vehicle Owners":

     """"1) in the first part of paragraph 1 of Article 19, the words "the presence or absence of insured events due to the fault of persons whose civil liability is insured (bonus-malus system)" should be replaced by the words "classes assigned to the policyholder (insured) under the bonus-malus system";

     2) in article 25:

     in the first part of paragraph 1, the words "(if necessary), the procedure for receiving insurance payments – in cash or by transfer to a bank account" should be deleted;

     Paragraph 5 should be worded as follows:

     "5. Insurance payment is made by the insurer by transfer to the beneficiary's bank account. Payment for banking services related to transfers, transfers and payments of insurance payments is carried out at the expense of the insurance company's own funds.".

     13. To the Law of the Republic of Kazakhstan dated July 2, 2003 "On the Securities Market":

     1) in article 1:

     Replace "information" with "digital" in sub-paragraphs 7-1) and 15-1);

     "subparagraph 49") after the words "bank guarantee", add the words "and (or) a non–resident bank".;

     Replace "electronic" with "digital" in subparagraph 51);

     Replace "electronic" with "digital" in subparagraph 56);

     "2") in subparagraph 6) of paragraph 2 of Article 3, the word "electronic" should be replaced by the word "digital".;

     "3) "in subparagraph 1) of paragraph 4 and subparagraph 1) of paragraph 6 of Article 11, the word "information" should be replaced by the word "digital".;

     4) in article 12:

     Replace "informational" with "digital" in subparagraph 1) of paragraph 1;

     in paragraph 6:

     Replace "informational" with "digital" in subparagraph 1);

     Replace "electronic" with "electronic form" in subparagraph 2).;

     5) add paragraph 3-1 to Article 15 as follows:

     "3-1. Additional conditions for the issuance of bonds by microfinance organizations are established by a regulatory legal act of the authorized body.";

     6) in paragraph 1 of article 22-1:

     add "" to the second part, except in cases when the placement of debt securities on the territory of a foreign state can be carried out on more favorable terms for the issuer and (or) if there is no demand for them on the organized securities market of the Republic of Kazakhstan and (or) the stock exchange of the Astana International Financial Center."";

     add the following part of the third:

     ""Criteria for determining the conditions for the placement of debt securities in a foreign country that are more favorable for the issuer and the lack of demand for them on the organized securities market of the Republic of Kazakhstan and (or) the stock exchange of the Astana International Financial Center are established by a regulatory legal act of the authorized body."";

     7) the first part of paragraph 3 of Article 43:

     Add sub-paragraphs 12-1) and 14-1) to read as follows:

     "12-1) the clearing organization (to the extent determined by its internal documents);";

     "14-1) the Financial Ombudsman for the appeals of applicants who are individuals, including those registered as individual entrepreneurs and related to small business entities, on dispute resolution in the cases provided for in paragraph 5 of Article 64-1 of this Law;";

     8) in the first part of paragraph 8 of Article 55-1:

     Replace "informational" with "digital";

     Add ""in the financial sector, including cybersecurity""after the words "information security".;

     "9") in subparagraph 3-1) of article 58, the word "electronic" should be replaced by the word "digital".;

     10) in article 59:

     Replace "information" and "communication" with the word "digital" in subparagraph 4-1) of paragraph 1;

     Paragraph 3 should be supplemented with subparagraph 4) as follows:

     "4) brokers and dealers in the provision of nominee services to foreign organizations performing the functions specified in paragraph 1 of this Article.";

     "11") in paragraph 3-1 of article 63, the word "informational" should be replaced by the word "digital".;

     12) in paragraph 1 of article 77:

     Replace "electronic" with "digital" in subparagraph 3);

     Replace "electronic" with "digital" in subparagraph 4);

     13) in article 77-1:

     In paragraph 3, the words "on transactions with financial instruments" should be deleted.;

     replace ""and other security for clearing participants" with the words "concluded in the trading system of the stock exchange by open trading and (or) with the participation of a central counterparty" in the second part of paragraph 4-1.;

     in paragraph 4-2:

     after ""at the expense of funds", add the words "reserve fund, as well as at the expense of funds";

     replace the words "margin contributions, full and (or) partial security for the fulfillment of obligations under transactions concluded in the stock exchange trading system by open trading and (or) with the participation of a central counterparty" with the words "margin contributions, full and (or) partial security for the fulfillment of obligations under transactions and (or) other security for clearing participants";

     Add ""and (or) other assets" to paragraph 7 after the words "financial instruments";

     Replace "guarantee" or "reserve funds" with "guarantee fund" in paragraph 9.;

     14) in article 80:

     Replace "information" with "digital" in sub-paragraphs 1) and 2) of paragraph 7;

     Replace "information" with "digital" in paragraph 9-1;

     "15)"in subparagraph 7-1) of paragraph 2 of article 81, the word "electronic" should be replaced by the word "digital".;

     16) paragraph 4 of Article 85 should be supplemented with the second part as follows:

     "When establishing requirements for financial instruments in the trading system of the organizer of the auction and (or) to issuers of such financial instruments, the organizer of the auction has the right to include as one of the requirements the availability of a credit rating agency rating for the financial instrument and (or) its issuer.";

     "17") throughout the text of article 88, the word "informational" should be replaced by the word "digital".

     14. To the Law of the Republic of Kazakhstan dated July 4, 2003 "On State Regulation, Control and Supervision of the Financial Market and Financial Organizations":

     1) add subparagraph 8-1) to Article 1 as follows:

     "8-1) information security in the financial sector – the state of security of information used in the financial market and in financial organizations from external and internal threats, in which its confidentiality, integrity and accessibility are ensured;";

     2) in article 9:

     in paragraph 1:

     "subparagraph 4") after the words "non–resident brokers of the Republic of Kazakhstan," add the words "credit rating agencies,";

     "subparagraph 9") after the words "non–resident brokers of the Republic of Kazakhstan", add the words "credit rating agencies".;

     "subparagraph 12") after the words "credit bureaus," add the words "credit rating agencies,";

     in subparagraph 16):

     Replace ""information security"" with the word "cybersecurity";

     add the words ", credit rating agencies";

     in subparagraph 17):

     add ""in the financial sector, including cybersecurity," "after the words "information security.";

     ""Information systems" should be replaced with the words "digital systems".;

     ""In subparagraph 20-1), replace the words "information security" with the words "to ensure information security in the financial sector, including cybersecurity.";

     add subparagraph 20-3) to read as follows:

     "20-3) organizes and coordinates the conduct by financial organizations of measures to assess the state of cybersecurity and respond to information security incidents in the financial sector, including cybersecurity;";

     Replace "informational" with "digital" in subparagraph 6) of paragraph 2;

     ""paragraph 4 after the words "non-resident brokers of the Republic of Kazakhstan," should be supplemented with the words "credit rating agencies,";

     add paragraph 7 as follows:

     "7. The authorized body participates in the training, retraining and advanced training of personnel for government agencies and financial organizations of the Republic of Kazakhstan.";

     3) in article 9-4:

     Replace "informational" with "digital" in the second paragraph of the second part of subparagraph 3) of paragraph 2;

     in the second part of paragraph 3:

     Replace "informational" with "digital";

     Add ""in the financial sector, including cybersecurity""after the words "information security".;

     delete the third part of paragraph 11;

     4) in article 9-5:

     Delete paragraph 2;

     in paragraph 7:

     Replace "may" with "are" in part two.;

     add the following part of the fourth:

"The requirement of the second part of this paragraph does not apply to the following cases::

     1) payment of the outstanding shares of the applicant – a legal entity with shares of the bank and (or) derivative securities of the bank issued in accordance with the legislation of the Republic of Kazakhstan or a foreign state, the underlying asset of which are voting shares of the bank, shares or equity interests in a major participant of the bank or a bank holding company or making a contribution to the capital of the applicant – a legal entity in the form of these shares and (or) derivative securities;

     2) receipt by the applicant, a legal entity, of shares of the bank and (or) derivative securities of the bank issued in accordance with the legislation of the Republic of Kazakhstan or a foreign state, the underlying asset of which are voting shares of the bank, shares or equity interests of a major participant in the bank or a bank holding company in exchange for shares or equity interests of another legal entity faces.";

     in paragraph 8:

     subitem 7) of the first part should be deleted;

     ""in the second paragraph of the second part, the words "e-government" should be replaced by the words "digital government";

     Replace ","6) and 7)" with "and 6)" in subparagraph 2) of paragraph 9.;

     Replace ","4) and 7)" with "and 4)" in subparagraph 4) of paragraph 10.;

     ""In paragraph 13, the words "sub-paragraphs 4) and 7)" should be replaced by the words "sub-paragraph 4)";

     in the sixth paragraph of paragraph 19:

     the words "bank,", "bank holding company," should be deleted;

     Replace "specified" with "specified";

     5) in article 9-6:

     Delete the second part of paragraph 1 and subparagraph 5) of paragraph 2;

     in the first part of paragraph 4, the number ", 5)" should be deleted;

     in paragraph 10:

     In part one, the words "and the document confirming the payment of the permit fee" should be deleted.;

     exclude part two;

     "6") in subparagraph 9) of Article 12, the words "electronic register" should be replaced by the words "digital register".;

     7) add article 12-4 as follows:

     "Article 12-4. Features of government regulation and supervision of credit rating activities

     In order to implement state regulation and supervision of credit rating activities, the authorized body:

     1) approves the rules for credit rating activities in the Republic of Kazakhstan, the requirements for the composition of the unit responsible for approving and reviewing rating methodologies, as well as the requirements for the knowledge and skills of rating analysts;

     2) supervises credit rating activities;

     3) establishes requirements for senior staff of the Kazakhstan rating agency;

     4) determines the procedure for recognition, refusal of recognition and revocation of recognition of international rating agencies and foreign rating agencies;

     5) exercise other powers provided for by this Law, other laws of the Republic of Kazakhstan and acts of the President of the Republic of Kazakhstan.";

     8) add subparagraph 5-1) to the second part of paragraph 2 of Article 13-5 as follows:

     "5-1) identification of persons who are (jointly are) major participants in a bank, insurance (reinsurance) organization, banking, insurance holdings;";

     9) Article 13-6 should be worded as follows:

     "Article 13-6. Powers in the field of ensuring information security in the financial sector, including cybersecurity, of financial organizations

     In order to ensure information security in the financial sector, including cybersecurity, of financial organizations, the authorized body in the relevant areas:

     1) approves the procedure for assessing the level of protection against threats to information security in the financial sector, including cybersecurity;

     2) adopt regulatory legal acts binding on financial organizations in the field of regulating the activities of financial organizations to ensure information security in the financial sector, including cybersecurity, in accordance with the main purpose and objectives provided for in paragraphs 1 and 2 of Article 3 of this Law and the legislation of the Republic of Kazakhstan. The list of subordinate regulatory legal acts is defined in the regulation on the authorized body.;

     3) approves the methodology for assessing information security risks in the financial sector, including cybersecurity, including the ranking of financial organizations according to the degree of exposure to information security risks in the financial sector, including cybersecurity;

     4) approves the requirements for the competencies of managers and employees of information security units in the financial sector, including cybersecurity, including requirements for advanced training of persons responsible for ensuring information security in the financial sector, including cybersecurity;

     5) approves requirements for responding to information security incidents in the financial sector, including cybersecurity, and conducting internal investigations of information security incidents in the financial sector, including cybersecurity;

     6) approves the procedure for financial organizations to take measures to assess the state of cybersecurity and respond to information security incidents in the financial sector, including cybersecurity;

     7) 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 requirements of this article apply to branches of non–resident banks of the Republic of Kazakhstan, branches of non–resident insurance (reinsurance) organizations of the Republic of Kazakhstan, branches of non–resident insurance brokers of the Republic of Kazakhstan.";

     10) in the second part of paragraph 1 of Article 15-1:

     add ""credit rating agencies"" after the words "collection agencies,";

     Add ""credit rating activities"" after the words "collection activities".;

     "11)"in subparagraph 5) of paragraph 1 of Article 15-6, the word "electronic" should be replaced by the word "digital".;

     "12)"In the second part of paragraph 4 of Articles 15-18, the words "Information security" should be replaced by the word "Cybersecurity".

     15. To the Law of the Republic of Kazakhstan dated December 22, 2003 "On State Legal Statistics and Special Accounting":

     Subparagraph 12-10) of the first part of Article 6 should be worded as follows:

     "12-10) assesses the effectiveness of the central state and local executive bodies of the capital, regions, cities of republican significance in reviewing appeals;".

     16. To the Law of the Republic of Kazakhstan dated July 6, 2004 "On Credit Bureaus and Formation of credit Histories in the Republic of Kazakhstan":

     1) in article 1:

     Replace "information" systems with "digital systems" in sub-paragraphs 13-4) and 16).;

     Replace "information" systems with the words "digital systems" in subparagraph 16-3);

     "2") in subparagraph 5) of Article 3, the words "information systems" should be replaced by the words "digital systems".;

     "3") subparagraph 6) of Article 5, after the words "information security", should be supplemented with the words "in the financial sphere, including cybersecurity,";

     "4") in the title and throughout the text of Article 8, the words "information systems" should be replaced by the words "digital systems".;

     "5") in subparagraph 4) of Article 10, the words "information systems" should be replaced by the words "digital systems".;

     6) in paragraph 1 of article 17:

     ""subparagraph 10-1) after the words "information security" should be supplemented with the words "in the financial sphere, including cybersecurity,";

     "Digital" should be replaced with the words "information systems" in subparagraph 11).;

     7) in article 19:

     in paragraph 2:

     "Digital" should be replaced with the words "information systems" in subparagraph 6) of Part one;

     add ""in the financial sector, including cybersecurity,""to the third part after the words "information security.";

     Add ""in the financial sphere, including cybersecurity," to paragraph 5 after the words "information security.";

     8) in article 27:

     ""Add the words "in the financial sphere, including cybersecurity," to sub-paragraphs 2), 10) and 11) of paragraph 2 after the words "information security.";

     After ""Information security"", add the words "in the financial sphere, including cybersecurity," to sub-paragraphs 2), 8) and 9) of paragraph 3.

     17. To the Law of the Republic of Kazakhstan dated July 7, 2004 "On Investment and Venture Funds":

     Replace "information" with "digital" in subitem 1) of paragraph 1 and subitem 1) of paragraph 1-4 of article 20.

     18. To the Law of the Republic of Kazakhstan dated February 28, 2007 "On Accounting and Financial Reporting":

     1) in subparagraph 7) of article 1:

     after "currency", add the words "microfinance organizations,";

     the words ", as well as microfinance organizations established in the form of a business partnership that do not provide unsecured micro-loans, specified in paragraph 3-1 of Article 4 of the Law of the Republic of Kazakhstan "On Microfinance Activities" should be deleted.;

     2) in article 20:

     ""subparagraph 3) of paragraph 6 after the words "foreign currency," add the words "payment organizations of the first category";

     "Paragraph 7" after the words "coins and valuables" should be supplemented with the words ", payment organizations of the first category".

     19. To the Law of the Republic of Kazakhstan dated April 2, 2010 "On Enforcement proceedings and the Status of Bailiffs":

In subparagraph 12-1) of the second part of paragraph 2 of Article 58, subparagraph 14-1) of the second part of paragraph 3 of Article 62 and subparagraph 27-1) of the first part of Article 98, the words "for interbank payments (or) money transfers made in the territory of the Republic of Kazakhstan using payment cards" should be replaced by the words "in payment systems operated by the National Bank of Kazakhstan". The Bank of the Republic of Kazakhstan or a legal entity of the National Bank of the Republic of Kazakhstan performing operational, technological and other functions defined by the National Bank of the Republic of Kazakhstan, to ensure the functioning of the national digital financial infrastructure."

     20. To the Law of the Republic of Kazakhstan dated November 26, 2012 "On Microfinance Activities":

     1) add subparagraph 3-1) to the second part of paragraph 3 of Article 3-1 as follows:

     "3-1) the procedure for providing a micro-loan electronically;";

     "2") in paragraph 1 of Article 3-2, the words "determined by the authorized body" should be replaced by the words "established by the regulatory legal act of the authorized body specified in the second part of paragraph 3 of Article 3-1 of this Law.";

     3) paragraph 2 of Article 5 shall be worded as follows:

     "2. The procedure for calculating remuneration rates in a reliable, annual, effective, comparable calculation (real value) for bank loans, micro-loans and deposits is approved by a regulatory legal act of the authorized body.";

     4) in article 6:

     add paragraph 1-2 as follows:

     "1-2. If the fulfillment of the obligation under the micro-loan agreement is secured simultaneously by a pledge and a guarantee (surety) of an individual, then in case of proper fulfillment by the borrower of the obligation under the micro-loan agreement and provided that the market value of the collateral item(s) determined by the appraiser at the time of the guarantor's (surety's) request – an individual with a claim to terminate the guarantee (surety) exceeds the amount of the unfulfilled part of the borrower's obligation, taking into account the requirements of the microfinance organization's collateral policy, the microfinance organization is obliged to consider the issue of termination of the guarantee (surety) agreement within ten working days from the date of the individual's request.";

     ""paragraph 3 after the words "every day of delay," add the words "after ninety days of delay, 0.03 percent of the amount of the overdue payment for each day of delay,";

     5) delete the second part of subparagraph 4) of paragraph 3 of Article 7;

     6) in article 9-1:

     in the third part of paragraph 5:

     ""in subparagraph 1), the words "bank acquiring doubtful and hopeless assets of the parent bank" should be replaced by the words "management of stressful assets";

     ""in the second paragraph of subparagraph 2), the words "acquiring doubtful and hopeless assets of the parent bank" should be replaced by the words "managing stressful assets";

     ""in part four, the words "to subsidiaries of the bank acquiring doubtful and hopeless assets of the parent bank, and collection agencies" should be replaced by the words "to collection agencies and subsidiaries managing stressful assets";

     The third paragraph of the first part of paragraph 10 should be worded as follows:

     "compliance with the procedure for reviewing the individual borrower's request for amendments to the terms of the bank loan agreement and the micro–loan agreement, as defined by the regulatory legal act of the authorized body.";

     7) in article 9-2:

     in paragraph 2:

     The third part should be worded as follows:

     "The procedure for reviewing the individual borrower's request for amendments to the terms of the bank loan agreement and the micro–loan agreement is determined by a regulatory legal act of the authorized body and includes:

     1) the procedure for reviewing the individual borrower's application for amendments to the terms of the bank loan agreement and the micro–loan agreement, as well as for changing the conditions for fulfilling obligations under the bank loan agreement and the micro-loan agreement, the rights (claims) for which have been assigned to collection agencies;

     2) a list of documents attached to the individual borrower's application for amendments to the terms of the bank loan agreement and the microcredit agreement;

     3) requirements to the internal procedure of the bank and microfinance organization for making credit decisions on restructuring bank loans and microcredits of individuals;

     4) the procedure for granting a military serviceman a deferral of payment on the principal debt and remuneration for a period including the duration of military service and sixty calendar days after its completion, without accrual of remuneration for a bank loan, microcredit;

     5) criteria for debt subject to collective settlement, as well as the procedure and conditions for collective debt settlement;

     6) the procedure for informing the authorized body about the results of consideration of applications from individual borrowers for amendments to the terms of the bank loan agreement and the microcredit agreement.";

     add the following part of the fourth:

     "A microfinance organization provides information on the results of consideration of applications from individual borrowers for amendments to the terms of the microcredit agreement in accordance with the regulatory legal act of the National Bank of the Republic of Kazakhstan specified in subparagraph 9) of paragraph 2 of Article 7 of this Law.";

     The fourth part of paragraph 3 should be worded as follows:

     "The requirements for the internal rules for making credit decisions on the restructuring of micro-loans of individuals are established by a regulatory legal act of the authorized body specified in part three of paragraph 2 of this article.";

     "8") in the second part of paragraph 5 of Article 14, the number "9" should be replaced by the number "7".;

     9) the second part of paragraph 1 of Articles 29-12 should be worded as follows:

     "Impact measures are understood as a limited measure of impact in the form of a mandatory written order and sanction.".

     21. To the Law of the Republic of Kazakhstan dated March 7, 2014 "On Rehabilitation and Bankruptcy":

     1) delete subparagraph 4) of Article 1;

     "2)"in paragraph 3 of Article 7, the words "ten working days" should be replaced by the words "one month".;

     3) delete subparagraph 9) of paragraph 4 of Article 10;

     4) add the words ", as well as the amount of unpaid basic remuneration of the bankrupt manager for no more than three months" to paragraph 4 of Article 11.;

     5) in article 12:

     Add "citizens" of the Republic of Kazakhstan to the first paragraph of the first paragraph of paragraph 1 after the word "to speak".;

     in paragraph 5:

     add the words ", as well as be appointed bankruptcy trustee for the same enterprise when applying bankruptcy proceedings after the termination of the rehabilitation procedure" to the second part.;

     Replace ""and 6)" in Part three with the words ", 6) and 7)";

     in paragraph 7:

     Add subparagraph 5) to the first part as follows:

     "5) exclusion of the administrator's notification from the register of notifications of persons authorized to carry out the administrator's activities.";

     after ""provisions", add the words "of sub-paragraphs 1), 2), 3) and 4) of Part one" to Part two;

     add paragraph 7-1 as follows:

     "7-1. The interim manager, if appointed by the authorized body, is removed from the exercise of his powers by the authorized body in the following cases::

     1) receipt of an application from the administrator in respect of a certain debtor;

     2) exclusion of the administrator's notification from the register of notifications of persons authorized to carry out the administrator's activities.";

     in paragraph 8:

     Subparagraph 2) should be worded as follows:

     "2) refusal, without valid reasons, to exercise the administrator's powers more than twice within twelve consecutive calendar months, with the exception of refusal to exercise powers in accordance with the first part of paragraph 5 of this Article.

     A valid reason is the temporary disability of the administrator in the presence of a supporting document, as well as the inability to exercise the administrator's powers due to force majeure circumstances, that is, circumstances that are extraordinary and unavoidable under these conditions (natural disasters, military operations, a state of emergency, and others);";

     add subparagraph 12) as follows:

     "12) termination of citizenship of the Republic of Kazakhstan.";

     6) in article 13:

     Delete "special" and "Special" words in paragraph 4.;

     Item 6:

     Add "rehabilitation" or "compensation" after the word "reward".;

     add the words ", or at your own expense";

     7) in article 17:

     ""in paragraph 1, the words "preventive control with a visit to the subject (object) of control, preventive control without visiting the subject (object) of control" should be replaced by the words "desk control established by the authorized body".;

     in paragraph 2:

     the words "and preventive control with a visit to the subject (object) of control" should be deleted;

     Replace "are" with the word "is being implemented".;

     exclude part two;

     8) in article 18:

     """"""""""""""""" in the title and throughout the text, the words "Preventive control without visiting the subject of control" should be replaced by the words "Desk control", "desk control", respectively.;

     Delete paragraph 6;

     9) the second part of paragraph 1 of Article 24 shall be worded as follows:

"When considering the issue of the removal of the rehabilitation manager, as well as the removal of the bankrupt manager and the simultaneous election of the bankrupt manager, the creditors' meeting is organized by the creditors' committee or the creditor who initiated such a meeting.";

     10) in article 26:

     Paragraph 4 should be supplemented with the fifth part as follows:

     "The creditors specified in the first part of this paragraph shall vote if the creditors' claims are fully satisfied, who are entitled to vote when making a decision by the creditors' meeting.";

     add ""by the organizer of the meeting" to the fifth part of paragraph 5 after the word "transferred";

     11) add the words ", including creditors participating in the meeting in person, as well as online via videoconference" to paragraph 1 of Article 28.;

     12) add subparagraph 5-2) to the first part of paragraph 2 of Article 41 as follows:

     "5-2) consent to the collection and processing, including the transfer to third parties of data and information constituting a legally protected secret;";

     "13)"in subparagraph 2) of paragraph 2 of Article 42, the words "at the beginning of the year in which the application was submitted, as well as in the case provided for by this Law, at the beginning of the year preceding the year of filing the application" shall be replaced by the words "for the three preceding years".;

     14) paragraph 3 of Article 45 should be supplemented with the second part as follows:

     "A copy of the agreement on the exercise of the powers of the temporary administrator concluded between the creditor and the person authorized to carry out the activities of the administrator is attached to the creditor's application.";

     15) paragraph 3 of Article 71 should be supplemented with sub-paragraphs 14-1) and 14-2) as follows:

     "14-1) perform obligations on behalf of the debtor in accordance with the tax and customs legislation of the Republic of Kazakhstan;

     14-2) transfer, within three working days from the date of entry into force of the court ruling on the termination of the rehabilitation procedure, the constituent documents, seals (if any), stamps, accounting documents, tangible and other valuables belonging to the debtor;";

     16) paragraph 3 of article 72 should be worded as follows:

     "3. A creditor's claim filed later than the time period specified in paragraph 2 of this article shall be included in the sixth stage of the register of creditors' claims, with the exception of the claim of the pledged creditor, which, in the part secured by the pledge, is included in the second stage if there is collateral in the estate. Such creditors are deprived of the right to vote in the creditors' meeting until the creditors' claims submitted within one month are fully satisfied.";

     17) in article 73:

     The third part of paragraph 1 should be worded as follows:

     "The rehabilitation plan for organizations and individual entrepreneurs that are subjects of natural monopolies or are of strategic importance to the economy of the Republic of Kazakhstan, capable of affecting the life, health of citizens, national security or the environment, is coordinated with the relevant central executive body, the relevant territorial body of the National Security Committee of the Republic of Kazakhstan, city-forming legal entities – with the relevant local executive body of the capital, the region and the city of republican significance, and state–owned enterprises on the right of economic management - with the authorized body for the management of state property or the local executive body.";

     Paragraph 2 should be supplemented with the following third part:

     "If one of the participants in the rehabilitation procedure is a creditor for taxes and customs payments, the rehabilitation plan should provide for repayment of debts in equal shares during the approved schedule.";

     Delete paragraph 8;

     18) paragraph 2 of Article 77 should be supplemented with the following part four:

     "The obligations for which the deadline has come during the rehabilitation procedure are fulfilled by the debtor in accordance with the rehabilitation plan, and in cases of non-fulfillment and (or) improper fulfillment, the debtor is liable in accordance with the civil legislation of the Republic of Kazakhstan.";

     19) in article 82:

     Paragraph 4 should be supplemented with subparagraph 4) as follows:

     "4) failure to meet the repayment schedule for more than three months.";

     add paragraph 6 as follows:

     "6. When filing an application to the court for termination of the rehabilitation procedure on the grounds provided for in subparagraph 2) In the first part of paragraph 1 and paragraphs 2, 3 and 4 of this Article, the person submitting the application is obliged to indicate in the application the requirement to declare the debtor bankrupt.";

     20) subparagraph 2) of paragraph 2 of Article 84 shall be worded as follows:

     "2) the presence of proceedings on execution of an enforcement document issued in favor of or in the interests of the bankrupt and (or) unrealized property;";

     21) in paragraph 2 of article 89:

     subparagraph 10) should be supplemented with the words "and (or) by decision of the creditors' meeting by direct sales";

     Add sub-paragraphs 17-1) and 24-2) to read as follows:

     "17-1) organize a creditors' meeting to consider the issue of extending the term of the bankruptcy procedure twenty working days before the expiration of the bankruptcy procedure;";

     "24-2) to fulfill obligations on behalf of the debtor in accordance with the tax and customs legislation of the Republic of Kazakhstan;";

     22) in article 90:

     ""in the first part of paragraph 1, the words "his appointment" should be replaced by the words "the issuance of a ruling on the initiation of bankruptcy proceedings".;

     Paragraph 5 should be worded as follows:

     "5. A creditor's claim filed later than the deadline specified in paragraph one of paragraph 3 of this Article shall be included in the sixth stage of the register of creditors' claims, with the exception of the claim of the secured creditor, which is included in the second stage in the secured part if there is collateral in the estate. Such creditors are deprived of the right to vote in the creditors' meeting until the creditors' claims submitted within one month are fully satisfied.";

     "23)"In paragraph 3 of article 96, the words "administrative or criminal proceedings" should be replaced by the words "criminal proceedings or administrative proceedings".;

     24) in paragraph 1 of article 99:

     add "", as well as the procedure for its implementation by direct sales method" to the second part after the word "bankrupt".;

     add parts three and four of the following content:

     "To transfer money received from the sale of the debtor's property, the administrator opens a current account in his name with a second-tier bank (an organization engaged in certain types of banking operations) in accordance with the procedure determined by the National Bank of the Republic of Kazakhstan, with the submission to the bank, an organization engaged in certain types of banking operations, consent to transfer by the bank, an organization engaged in certain types of banking operations. certain types of banking transactions, information based on a request from the state revenue authority on the movement of money in this account.

     The money held in the administrator's current account for crediting the money received from the sale of the debtor's property is not his property and (or) his income and cannot be included in his inheritance.";

     25) in paragraph 1 of article 100:

     The second part should be worded as follows:

     "Administrative expenses include the basic remuneration of the administrator, the costs of property protection and control, property valuation and sale, and banking services for a certain bankrupt.";

     add the following part of the fifth:

     "In case of absence of property from the bankrupt, administrative expenses amount to five minimum wages established by the law on the republican budget for the relevant fiscal year.";

     "26") add the words "including the calculated amounts of taxes incurred in connection with the transfer of the pledged property to the mortgagee," to the first part of paragraph 4 of Article 104-1 after the words "related to the assessment and maintenance of the pledged property,";

     27) add the words ", no later than ten working days from the date of approval of the final report" to the first part of paragraph 1 of Article 110;

     "28") in subparagraph 3) of paragraph 2 of Article 118-1, the word "two" should be replaced by the word "five".

     22. To the Law of the Republic of Kazakhstan dated May 16, 2014 "On Permits and Notifications":

     1) subparagraph 4) of paragraph 2 of Article 28 should be supplemented with paragraphs ten and eleven as follows:

     "the stock exchange in carrying out activities related to the organization of trading in assets other than financial instruments, within the limits of its powers established by the laws of the Republic of Kazakhstan;

     an organization that holds a license for clearing transactions in financial instruments, when carrying out clearing activities for transactions with assets other than financial instruments, within the limits of authority established by the laws of the Republic of Kazakhstan;";

     2) supplement Appendix 1 with line 61-1 as follows:

     "

Download

61-1.

A license issued to payment organizations of the first category to carry out activities related to the provision of payment services and certain types of banking operations (opening and maintaining bank accounts of legal entities, transfer operations: following instructions from legal entities on payments and money transfers)

Inalienable; the competition procedure is not applicable; the effect of the first part of paragraph 3 of Article 25 and paragraphs 1, 2 of Article 26 of this Law does not apply when issuing a license; class 1

     ";

     3) line 84-1 of Appendix 2 should be worded as follows:

     "

Download

84-1.

Inclusion in the register of payment organizations of the second category that have been registered with the National Bank of the Republic of Kazakhstan

Notification of account registration by a payment organization of the second category for granting permission (right) to provide payment services established by the Law of the Republic of Kazakhstan "On Payments and Payment Systems"

     ".

     23. To the Law of the Republic of Kazakhstan dated November 12, 2015 "On State Audit and Financial Control":

     1) changes have been made throughout the text in Kazakh, the text in Russian does not change;

     2) in article 29:

     add paragraph 1-1 as follows:

     "1-1. As part of the subsequent assessment by the Supreme Audit Chamber, with the involvement of a subordinate organization, the effectiveness of the activities of state bodies in achieving the goals of the development plans of state bodies and development plans of the capital, regions, cities of republican significance and achieving the final results provided for in the passports of budget programs is also assessed in accordance with the procedure and deadlines determined by the Supreme Audit Chamber.";

     Paragraph 3 should be supplemented with subparagraph 2-1) as follows:

     "2-1) the effectiveness of the activities of state bodies in achieving the goals of the development plans of state bodies and development plans of the capital, regions, cities of republican significance and achieving the final results provided for in the passports of budget programs;";

     3) in article 35:

     ""In paragraph 1, the words "optimization of management processes during the conduct of" should be replaced by the words "automation of processes during the conduct of state audit, as well as the introduction of digital interaction between external state audit bodies and facilities";

     add paragraph 1-1 as follows:

     "1-1. The objects of external state audit and financial control use a single database to provide documents, information, objections and other information provided for by the legislation of the Republic of Kazakhstan on state audit and financial control.";

     Add "also" to paragraph 2 after the words "database".;

     4) add paragraph 4 to article 37 as follows:

     "4. The head of the external state audit facility ensures the registration of the state audit facility in a single database and identifies persons who have access to it, as well as ensuring the completeness, reliability and timeliness of the information posted in the single database.

     Requests, requirements, audit reports, orders and other documents sent by the external state audit bodies within their competence are considered to have been brought to the object of the state audit from the moment of confirmation of their delivery through a single database, unless otherwise established by the legislation of the Republic of Kazakhstan.".

     24. To the Law of the Republic of Kazakhstan dated July 26, 2016 "On Payments and Payment Systems":

     1) in article 1:

     Add sub-paragraphs 15-1), 16-1) and 16-2) as follows:

     "15-1) payment organization of the first category – a legal entity established in the organizational and legal form of a limited liability partnership or joint-stock company operating under a license from the National Bank of the Republic of Kazakhstan to provide payment services in accordance with this Law and conduct banking operations provided for in paragraphs 1) (opening and maintaining bank accounts of legal entities) and 5) (transfer operations: compliance with instructions of legal entities on payments and money transfers) of the first part of paragraph 2 of Article 22 of the Law of the Republic of Kazakhstan "On Banks and Banking Activities in the Republic of Kazakhstan" (hereinafter referred to as the license for the operation of a payment organization of the first category);";

     "16-1) register of payment organizations of the second category (hereinafter referred to as the register of payment organizations) is a single list of payment organizations of the second category that have been registered;

     16-2) a payment organization of the second category is a legal entity established in the organizational and legal form of a limited liability partnership, which, in accordance with this Law, carries out activities to provide payment services on the basis of registration with the National Bank of the Republic of Kazakhstan;";

     Sub-paragraphs 17) and 19) should be worded as follows:

     "17) registration – the inclusion of a payment organization of the second category in the register of payment organizations with the assignment of a registration number;";

     "19) consolidated payment order – a payment order used to make a payment and (or) transfer money from one sender of money to several beneficiaries serviced by one bank or payment organization of the first category, or from several senders of money serviced by one bank or payment organization of the first category, in favor of one beneficiary;";

     Sub-paragraph 60) should be deleted;

     Subparagraph 61) should be worded as follows:

     "61) payment organization is a legal entity that carries out activities in accordance with this Law and the Law of the Republic of Kazakhstan "On Permits and Notifications". Payment organizations are divided into payment organizations of the first category and payment organizations of the second category;";

     add subparagraph 61-1) as follows:

     "61-1) a major participant in a payment organization is an individual or legal entity that directly and (or) indirectly owns and (or) uses and (or) disposes of ten or more percent of the voting shares, participation interests in the authorized capital of the payment organization;";

     2) in article 13:

     ""Paragraph 1 after the words "and financial organizations" should be supplemented with the words "or the National Bank of the Republic of Kazakhstan".;

     in paragraph 2:

     add subparagraph 3-1) to read as follows:

     "3-1) by a payment organization of the first category of payment services specified in sub-paragraphs 1), 3), 4), 5), 7), 8) and 9) paragraph 1 of Article 12 of this Law, if the National Bank of the Republic of Kazakhstan has a license to operate as a payment organization of the first category.

     At the same time, the payment services specified in subparagraph 1) of paragraph 1 of Article 12 of this Law are provided on bank accounts of legal entities opened with a payment organization of the first category.

     Payment organizations of the first category have the right to issue and service transactions with digital financial assets, the underlying asset of which is money (stablecoins), in accordance with the procedure and in accordance with the requirements established by the regulatory legal act of the National Bank of the Republic of Kazakhstan;";

     subparagraph 4) should be worded as follows:

     "4) a payment organization of the second category of payment services specified in subitems 3), 7), 8) and 9) of paragraph 1 of Article 12 of this Law, if there is a registration number of the account registration with the National Bank of the Republic of Kazakhstan;";

     in paragraph 3:

     Add "second" to the fourth part after the words "Payment organization".;

     Add "second" to the fifth part after the words "bank account of a payment organization".;

     3) add the words "second category" to subparagraph 3) of paragraph 3 of article 14;

     4) add paragraph 4 to Article 15 as follows:

     "4. Payment services rendered by a payment organization of the first category without a license issued by the National Bank of the Republic of Kazakhstan or a payment organization of the second category without registration with the National Bank of the Republic of Kazakhstan are void.";

     5) paragraph 1 of Article 15-1 should be worded as follows:

     "1. The minimum size of the authorized capital of a payment organization is determined by the National Bank of the Republic of Kazakhstan.

     The minimum amount of the authorized capital of a payment organization is formed before a legal entity applies to the National Bank of the Republic of Kazakhstan for a license to operate a payment organization of the first category or a payment organization of the second category for registration.";

     6) add articles 15-2, 15-3, 15-4 and 15-5 as follows:

     "Article 15-2. Prudential standards and other mandatory norms and limits established for payment organizations of the first category

     1. Prudential standards include:

     1) the minimum size of the authorized and equity capital of a payment organization of the first category;

     2) equity capital adequacy ratios;

     3) Leverage ratio;

     4) Liquidity ratios.

     2. Prudential standards and other mandatory norms and limits for payment organizations of the first category, their limits and calculation methods are approved by the National Bank of the Republic of Kazakhstan.

     Article 15-3. Licensing of the activities of a payment organization of the first category

     1. A legal entity has the right to provide payment services as a payment organization of the first category if it has a license issued by the National Bank of the Republic of Kazakhstan to operate as a payment organization of the first category.

     2. In order to obtain (renew) a license to operate a payment organization of the first category, in addition to the documents defined by the Law of the Republic of Kazakhstan "On Permits and Notifications", a legal entity submits documents in accordance with the procedure established by the regulatory legal act of the National Bank of the Republic of Kazakhstan.

     3. A fee is charged for the issuance of a license to operate a payment organization of the first category, the amount and payment procedure of which are determined by the tax legislation of the Republic of Kazakhstan.

     4. The renewal of the license for the operation of a payment organization of the first category is carried out in cases stipulated by the Law of the Republic of Kazakhstan "On Permits and Notifications".

An application for renewal of a license to operate a payment organization of the first category is submitted within thirty calendar days from the date of the changes that served as the basis for the renewal of the license.

     5. The National Bank of the Republic of Kazakhstan shall issue a license for the operation of a payment organization of the first category or a reasoned refusal to issue a license within thirty working days from the date of submission by the legal entity of the documents and information provided for by this Law.

     6. A copy of the license for operating a payment organization of the first category must be posted on the Internet resource of the payment organization of the first category.

     Article 15-4. Grounds for refusal to issue a license to operate a payment organization of the first category

     1. The refusal to issue a license to operate a payment organization of the first category is made on the following grounds:

     1) the submitted documents do not comply with the requirements of the Law of the Republic of Kazakhstan "On Permits and Notifications" and the requirements established by the regulatory legal act of the National Bank of the Republic of Kazakhstan, as well as the provision of incomplete and (or) unreliable information to be reflected in these documents;

     2) non-compliance with the requirements established by Articles 15-1, 15-2, 19 and 19-1 of this Law, and (or) non-compliance with them;

     3) if a payment organization of the first category has not applied for a license to operate as a payment organization of the first category within one year from the date of its state registration (re-registration) with the "Government for Citizens" State Corporation.;

     4) submission by the applicant, in order to obtain a license for the operation of a payment organization of the first category, of documents of a payment organization of the first category that had previously been deprived of the license on the grounds provided for in paragraphs 1), 2), 3), 4), 5) and 6) paragraph 2 of Article 15-5 of this Law, or documents of a payment organization of the second category, previously excluded from the register of payment organizations on the grounds provided for in paragraphs 1), 2), 3), 4), 5), 6), 9) and 11) paragraph 1 of Article 18 of this Law.

     2. In the event of a refusal to issue a license for the operation of a payment organization of the first category on the grounds provided for in subparagraphs 1) and 2) of paragraph 1 of this article, the legal entity shall have the right to resubmit the application and documents for obtaining a license within twenty working days after the date of receipt of the reasoned refusal.

     Upon waiver of the right provided for in part one of this paragraph, as well as upon receipt of a refusal on the grounds provided for in subparagraph 3) According to paragraph 1 of this article, a legal entity, within thirty working days after the date of receipt of the refusal, is obliged to carry out the procedure of re-registration and name change if the words "payment organization" are present in it, or to make a decision on reorganization or liquidation.

     If a legal entity fails to perform the actions specified in parts one and three of this paragraph, it is subject to compulsory reorganization or liquidation in accordance with the procedure established by the laws of the Republic of Kazakhstan.

     Article 15-5. Grounds for suspension, termination or revocation of a license to operate a payment organization of the first category

     1. The National Bank of the Republic of Kazakhstan has the right to make a decision to suspend the license for the operation of a payment organization of the first category, regardless of the supervisory response measures previously applied to it on the following grounds:

     1) violation of prudential standards and (or) other mandatory rules and limits;

     2) failure to comply with the supervisory response measures of the National Bank of the Republic of Kazakhstan;

     3) obstruction by a payment organization of the first category in conducting an audit by the National Bank of the Republic of Kazakhstan;

     4) identification of false information and information in the documents submitted for obtaining a license to operate a payment organization of the first category;

     5) systematic (three or more times within twelve consecutive calendar months) violation of the requirements of the legislation of the Republic of Kazakhstan on payments and payment systems and (or) accounting and financial reporting, and (or) currency regulation and currency control, and (or) countering the legalization (laundering) of proceeds from crime financing of terrorism and financing the proliferation of weapons of mass destruction;

     6) non-compliance of the risk management and internal control system with the requirements of the National Bank of the Republic of Kazakhstan.

     2. The National Bank of the Republic of Kazakhstan has the right to make a decision to revoke the license to operate a payment organization of the first category, regardless of the supervisory response measures previously applied to it on the following grounds:

     1) failure to eliminate the circumstances that served as the basis for the suspension of the license;

     2) systematic (two or more times within twelve consecutive calendar months) failure to comply with the supervisory response measures of the National Bank of the Republic of Kazakhstan;

     3) failure to provide payment services for six consecutive calendar months;

     4) the discovery of the circumstances provided for in subitems 1) and 2) of paragraph 1 of Article 15-4 of this Law;

     5) carrying out activities not provided for by this Law;

     6) the entry into force of a court decision on the liquidation of a payment organization of the first category;

     7) adoption by a payment organization of the first category of a decision on the voluntary termination of its activities.

     3. The termination of the license for the operation of a payment organization of the first category is carried out on the grounds provided for by the Law of the Republic of Kazakhstan "On Permits and Notifications".

     In the case provided for in subparagraph 5) of paragraph 1 of Article 35 of the Law of the Republic of Kazakhstan "On Permits and Notifications", the application for termination of the license for the operation of a payment organization of the first category shall be accompanied by documents and information confirming the fulfillment of obligations incurred during the operation of a payment organization of the first category.

     4. The decision to suspend or revoke the license to operate a payment organization of the first category shall enter into force from the date of its adoption.

     The license for the operation of a payment organization of the first category is considered suspended from the date of notification of such a decision to the payment organization of the first category.

     Information on the decision to suspend or revoke the license for the operation of a payment organization of the first category is published on the Internet resource of the National Bank of the Republic of Kazakhstan in Kazakh and Russian languages.

     5. The decision of the National Bank of the Republic of Kazakhstan to suspend or revoke the license to operate a payment organization of the first category may be appealed in accordance with the procedure established by the laws of the Republic of Kazakhstan.

     An appeal against the decision of the National Bank of the Republic of Kazakhstan on suspension or revocation of a license to operate a payment organization of the first category does not suspend the execution of this decision.

     6. A payment organization of the first category, whose license has been suspended, is obliged to fulfill its obligations under previously initiated payment services and concluded contracts.

     7. A payment organization of the first category, which has been deprived of its license or whose license has been suspended, is not entitled to provide payment services.

     8. A payment organization of the first category, within thirty calendar days from the date of the decision by the National Bank of the Republic of Kazakhstan to revoke the license for the operation of a payment organization of the first category, must carry out the procedure of state re-registration and name change if the words "payment organization" are present in it, or make a decision on reorganization or liquidation.";

     7) in article 16:

     The title and paragraph 1 should be worded as follows:

     "Article 16. Registration of a payment organization of the second category

     1. A legal entity has the right to provide payment services as a payment organization of the second category if it has an account registration number with the National Bank of the Republic of Kazakhstan.

     The registration of payment organizations of the second category with the National Bank of the Republic of Kazakhstan is carried out for the purpose of regulating and controlling their activities and is a prerequisite for the provision of payment services by a payment organization.";

     The first paragraph and subparagraph 1) of paragraph 2 should be worded as follows:

     "2. For registration, a legal entity submits to the National Bank of the Republic of Kazakhstan:

     1) an application in the form determined by the National Bank of the Republic of Kazakhstan, including information about the head (members) of the executive body (with copies of the diploma(s) attached, if issued (they were issued) by foreign educational organizations, and a document confirming the employee's employment in accordance with the Labor Code of the Republic of Kazakhstan);";

     Paragraphs 3, 4, 6, 7 and 8 should be worded as follows:

     "3. The National Bank of the Republic of Kazakhstan shall consider the application of a legal entity for registration within fifteen working days from the date of submission of the full list of documents specified in paragraph 2 of this Article.

4. When a legal entity passes registration, the National Bank of the Republic of Kazakhstan assigns the registration number of a payment organization of the second category, makes an entry in the register of payment organizations, and sends a notification to the payment organization of the second category in accordance with the procedure established by the Law of the Republic of Kazakhstan "On Permits and Notifications", indicating the registration number on registration within the time period established by paragraph 3 of this article.

     In case of refusal of registration, the National Bank of the Republic of Kazakhstan shall send a notification to the legal entity in accordance with the procedure established by the Law of the Republic of Kazakhstan "On Permits and Notifications" on refusal of registration, indicating the reason for the refusal within the time period established by paragraph 3 of this Article.";

     "6. A payment organization of the second category is required to indicate its registration number when providing information about a payment organization of the second category.

     7. A payment organization of the second category shall inform the National Bank of the Republic of Kazakhstan of all changes and additions made to the documents on the basis of which the registration was carried out, within ten calendar days after these changes are made.

     8. Foreign entities without the formation of a legal entity registered in a foreign state (territory) included in the list of states (territories) compiled by the authorized financial monitoring body that do not comply and/or insufficiently comply with the recommendations of the Financial Action Task Force on Money Laundering (FATF) may not, directly or indirectly own and (or) use and (or) dispose of shares of participation in the authorized capital of payment organizations of the second category.

     Indirect ownership of shares in the authorized capital or ownership (voting) of shares in the authorized capital of a payment organization of the second category provides an opportunity to determine the decisions of a legal entity participating in a payment organization of the second category through ownership (voting) of shares in the authorized capital (shares) of other legal entities.";

     8) Article 17 should be worded as follows:

     "Article 17. Grounds for refusal to register a payment organization of the second category

     1. Account registration of a payment organization of the second category is refused in the following cases::

     1) submission of incomplete and (or) unreliable information to be reflected in the documents specified in paragraph 2 of Article 16 of this Law;

     2) submission of an incomplete list of documents or documents that do not comply with the requirements of this Law and the regulatory legal act of the National Bank of the Republic of Kazakhstan;

     3) if the head of the executive body of a payment organization of the second category does not meet the requirements established by Article 19 of this Law;

     4) if a payment organization of the second category has not applied for registration within one year from the date of its state registration (re-registration) with the "Government for Citizens" State Corporation;

     5) if the founder (major participant) of a payment organization of the second category does not meet the requirements established by Article 19-1 of this Law;

     6) submission for registration of documents of a payment organization that was previously deprived of its license on the grounds provided for in paragraphs 1), 2), 3), 4), 5) and 6) paragraph 2 of Article 15-5 of this Law, or excluded from the register of payment organizations on the grounds provided for in paragraphs 1), 2), 3), 4), 5), 6), 9) and 11) paragraph 1 of Article 18 of this Law.

     2. In case of refusal of registration, the legal entity has the right to resubmit the application for registration upon elimination of the reasons that led to the refusal of registration of a payment organization of the second category, or to decide to change its name or reorganize or liquidate.

     Failure to eliminate the reasons that led to the refusal to register a payment organization of the second category is the basis for refusing to re-examine the specified application.

     The re-submitted application is reviewed by the National Bank of the Republic of Kazakhstan within ten working days.";

     9) in article 18:

     in paragraph 1:

     Add "second" to the first paragraph after the word "organization".;

     "subparagraph 1") after the word "non-submission", add the words "late submission or submission to the National Bank of the Republic of Kazakhstan of incomplete and (or) unreliable documents".;

     In subparagraph 2), the words "on payment services or false information" should be deleted.;

     add subparagraph 3-1) to read as follows:

     "3-1) systematic (three or more times within twelve consecutive calendar months) failure to comply with written instructions of the National Bank of the Republic of Kazakhstan;";

     Item 4:

     Add "second" after the word "organization".;

     add the following part of the second part:

     "A payment organization of the second category, upon receipt of a written notification from the National Bank of the Republic of Kazakhstan on exclusion from the register of payment organizations, is obliged to ensure the fulfillment of its obligations no later than thirty calendar days from the date of receipt of the said notification.";

     10) Subparagraph 2) of paragraph 2 of Article 19 shall be worded as follows:

     "2) who was previously the head of the executive body, the founder or the first head of the founder – a legal entity of a payment organization, a major participant or the first head of a major participant – a legal entity of a payment organization for a period not exceeding five years prior to the revocation of its license on the grounds provided for in paragraphs 1), 2), 3), 4), 5) and 6) paragraph 2 of Article 15-5 of this Law, or its exclusion from the register of payment organizations on the grounds provided for in paragraphs 1), 2), 3), 4), 5), 6), 9) and 11) paragraph 1 of Article 18 of this Law, or a payment organization liquidated on the basis of a judicial act that has entered into legal force or declared bankrupt in accordance with the procedure established by the legislation of the Republic of Kazakhstan;";

     11) subparagraph 4) of paragraph 1 of Article 19-1 should be worded as follows:

     "4) who were the founder or the first head of the founder, a legal entity of a payment organization, a major participant or the first head of a major participant – a legal entity and (or) the head of the management body, the head of the executive body of the payment organization for a period not more than five years prior to the revocation of its license on the grounds provided for in paragraphs 1), 2), 3), 4), 5) and 6) paragraph 2 of Article 15-5 of this Law, or its exclusion from register of payment organizations on the grounds provided for in paragraphs 1), 2), 3), 4), 5), 6), 9) and 11) paragraph 1 of Article 18 of this Law, or a payment organization liquidated on the basis of a judicial act that has entered into legal force or declared bankrupt in accordance with the procedure established by the Government of the Russian Federation., established by the legislation of the Republic of Kazakhstan;";

     12) add articles 19-2, 19-3, 19-4 and 19-5 as follows:

     "Article 19-2. Risk management and internal control system

     1. A payment organization of the first category forms a risk management and internal control system, which should include:

     1) the powers and functional responsibilities for risk management and internal control of the management body (if any), the executive body, divisions, and their responsibilities;

     2) internal risk management and internal control policies and procedures;

     3) internal procedures for reporting on risk management and internal control to the authorities of the payment organization;

     4) internal criteria for evaluating the effectiveness of the risk management system.

     The procedure for forming a risk management and internal control system for payment organizations of the first category is determined by the National Bank of the Republic of Kazakhstan.

     The management body of a payment organization of the first category monitors and ensures the effectiveness of the implementation and functioning of the corporate governance system in a payment organization of the first category.

     2. The National Bank of the Republic of Kazakhstan shall assess the compliance of the risk management and internal control system with the requirements established by this Article.

     3. An internal control service may be established by payment organizations of the first category to monitor their financial and economic activities.

     4. The procedure of the internal control service is determined by the legislation of the Republic of Kazakhstan, as well as rules, regulations and other documents regulating the internal activities of payment organizations of the first category.

     Article 19-3. A plan to restore the financial stability of a payment organization of the first category

     A payment institution of the first category is required to have a financial stability restoration plan in case the National Bank of the Republic of Kazakhstan applies the financial stability restoration regime to it.

     The plan for restoring the financial stability of a payment institution of the first category provides for:

     measures to restore the financial stability of a payment organization of the first category, undertaken by a payment organization of the first category, major participants, sources of financing for these measures, including in the form of additional capitalization, and the timing of their implementation;

     the consolidation of senior staff responsible for the implementation of measures to restore financial stability.

     The financial stability restoration plan is approved by the management body of the payment organization of the first category and coordinated with major participants.

The financial stability restoration plan is subject to updating and is sent by the payment organization of the first category to the National Bank of the Republic of Kazakhstan to assess its effectiveness at least once a year, as well as in any of the following cases:

     changes in the composition of major participants;

     changes in the types and (or) scale of activities carried out, which may have a significant impact on the financial stability of a payment institution of the first category and (or) entail the need to make changes to the financial stability restoration plan for other reasons.

     The National Bank of the Republic of Kazakhstan is evaluating the effectiveness of the financial stability restoration plan for a first-category payment institution.

     If there are comments and (or) suggestions from the National Bank of the Republic of Kazakhstan, the payment organization of the first category is obliged to finalize the plan for restoring financial stability.

     The financial stability restoration plan should not provide for the use of public funds to restore the financial stability of a payment institution of the first category and may not provide for a period of implementation exceeding twelve months.

     The requirements for the content of the financial stability restoration plan for a payment institution of the first category, the procedure and deadlines for its submission to the National Bank of the Republic of Kazakhstan are determined by the National Bank of the Republic of Kazakhstan.

     Article 19-4. Ensuring information security in the financial sector, including cybersecurity, and business continuity of payment organizations of the first category

     1. A payment organization of the first category ensures information security in the financial sector, including cybersecurity, and business continuity based on the following principles:

     1) compliance with legislation and mandatory standards – conducting regular cybersecurity checks and audits by a payment organization of the first category for compliance with the requirements of the legislation of the Republic of Kazakhstan and mandatory standards in the field of information security in the financial sector and cybersecurity;

     2) management involvement – participation, control and responsibility on the part of the head or a member of the executive body of a payment organization of the first category for ensuring information security in the financial sector, including cybersecurity, and business continuity;

     3) complexity – the implementation by a payment organization of the first category of information security in the financial sector, including cybersecurity, at the organizational, technical and personnel levels, taking into account external and internal threats;

     4) restricted access – provision by a payment organization of the first category of access to each participant of information security in the financial sector, including cybersecurity, only to that information and those resources which are necessary and sufficient for performance of its functional duties.;

     5) minimization of data storage – the storage by a payment organization of the first category of only that information and those data that are necessary and sufficient to perform the tasks performed by the payment organization of the first category;

     6) monitoring – recording and timely analysis by a payment organization of the first category of user actions and events in the digital infrastructure of a payment organization of the first category;

     7) awareness – the systematic improvement and regular verification by a payment organization of the first category of the level of professional knowledge and skills of employees of a payment organization of the first category in the field of information security in the financial sector and cybersecurity;

     8) security updates and testing – timely updating of software and operating systems by a payment organization of the first category, as well as regular checks for vulnerabilities and penetration tests into the digital infrastructure of a payment organization of the first category by a payment organization of the first category;

     9) continuity and recovery – backup of data by the payment organization of the first category, planning and testing of restoration of the digital infrastructure of the payment organization of the first category.

     2. A payment organization of the first category ensures the availability of an information security management system in the financial sector, including cybersecurity, as well as compliance with information security requirements in the financial sector, including cybersecurity, in accordance with the requirements established by the National Bank of the Republic of Kazakhstan.

     3. A payment organization of the first category submits information on the availability of a cybersecurity management system, as well as on compliance with cybersecurity requirements to the National Cybersecurity Coordination Center in accordance with the procedure and deadlines determined by the National Bank of the Republic of Kazakhstan in coordination with the authorized body in the field of digitalization.

     4. The first category payment organization provides monitoring of information security events in the financial sector, including cybersecurity, responding to information security incidents in the financial sector, including cybersecurity, in real time, as well as conducting investigations of information security incidents in the financial sector, including cybersecurity, in accordance with the procedure determined by the National Bank of the Republic Kazakhstan.

     5. A payment organization of the first category provides the National Bank of the Republic of Kazakhstan with information about vulnerabilities in the digital infrastructure, including from third parties, as well as information security events and incidents in the financial sector, including cybersecurity, including information about violations and failures in digital systems, in accordance with the procedure and deadlines determined by the National Bank of the Republic of Kazakhstan. By the Bank of the Republic of Kazakhstan.

     6. A payment organization of the first category ensures the operation of a backup data processing center and backup communication channels to ensure the continuity of operation of digital infrastructure facilities.

     7. A payment organization of the first category notifies clients of planned work carried out in the digital infrastructure that affects the availability of payment and other transactions to customers, in accordance with the procedure and deadlines established by the internal documents of the payment organization of the first category and (or) contracts concluded with clients.

     8. A payment organization of the first category ensures a guaranteed level of continuity in the provision of banking and other transactions to customers, which is established by the internal documents of the payment organization of the first category. The specified internal documents of the payment organization of the first category are subject to posting on the Internet resource of the payment organization of the first category.

     9. The requirements for the continuity of the digital infrastructure of a payment organization of the first category are determined by the National Bank of the Republic of Kazakhstan.

     Article 19-5. Document storage

     A payment organization of the first category is required to ensure the accounting and storage of documents used in accounting when preparing financial statements.

     The list of the main documents to be stored and the terms of their storage are determined by the National Bank of the Republic of Kazakhstan.";

     13) Article 20 should be worded as follows:

     "Article 20. Reorganization (joining, merging, separation, separation, transformation) of a payment organization

     1. Voluntary reorganization (merger, affiliation, division, separation, transformation) of payment organizations may be carried out by decision of the shareholders (participants) of payment organizations with the consent of the National Bank of the Republic of Kazakhstan.

     2. The reorganization of payment organizations of the first category is carried out in accordance with the procedure provided for by the laws of the Republic of Kazakhstan.

     3. When making a decision on the voluntary reorganization of a payment organization of the second category, the following documents are submitted to the National Bank of the Republic of Kazakhstan for approval::

     1) the decision on the voluntary reorganization of the payment organization;

     2) documents describing the proposed conditions, forms, procedure and terms of the voluntary reorganization of the payment organization;

     3) an agreement on joining (merger) signed by the heads of the executive bodies of the reorganized payment organizations;

     4) audit report in accordance with the legislation of the Republic of Kazakhstan on auditing;

     5) rules for carrying out the activities of a payment organization formed as a result of voluntary reorganization.

     4. The National Bank of the Republic of Kazakhstan shall review the submitted documents specified in paragraph 2 of this Article and send a written notification of the decision within ten working days from the date of their submission.

     5. Reorganized payment organizations of the second category, within fifteen calendar days from the date of receipt of the consent of the National Bank of the Republic of Kazakhstan to conduct a voluntary reorganization, are required to inform all their clients and payment service providers about the reorganization by publishing an appropriate announcement in the media, including on their Internet resource.

     6. The registration of a payment organization of the second category formed as a result of voluntary reorganization is carried out in accordance with the requirements of this Law and the regulatory legal act of the National Bank of the Republic of Kazakhstan.

     7. Exclusion from the register of reorganized payment organizations is carried out simultaneously on the day of inclusion of the second category payment organization formed as a result of voluntary reorganization in the register of payment organizations.

7. Exclusion from the register of reorganized payment organizations is carried out simultaneously on the day of inclusion of the second category payment organization formed as a result of voluntary reorganization in the register of payment organizations.

     8. The National Bank of the Republic of Kazakhstan refuses to grant consent to the voluntary reorganization of payment organizations of the second category in the following cases::

     1) if the head of the executive body of a payment organization formed as a result of voluntary reorganization does not comply with the requirements of Article 19 of this Law;

     2) if the voluntary reorganization of payment organizations impedes the control and supervision of the payment services market, as well as harms the interests of payment service recipients.";

     14) in article 23:

     in paragraph 2:

     add "regulation" to the first paragraph after the words "For the purposes of";

     add the following sub-items 5-1), 5-2), 5-3), 5-4), 5-5) and 5-6) as follows:

     "5-1) issues (refuses to issue), reissues, suspends, terminates or revokes licenses for the activities of payment organizations of the first category;

     5-2) approves the rules for the activities of payment organizations of the first category, which determine, among other things:

     the procedure for licensing payment organizations of the first category, including the list of documents submitted to the National Bank of the Republic of Kazakhstan for obtaining a license;

     qualification requirements for payment organizations of the first category, including requirements for the organizational and legal form, founders (participants) and beneficial owner, including disclosure of the sources of origin of their contributions to the authorized capital, senior staff, requirements for their impeccable business reputation, the size and procedure for the formation of the authorized capital, internal documents and regulations of the payment organization of the first categories regulating its activities;

     the procedure, cases and conditions of using the money of clients of payment organizations of the first category held in bank accounts;

     the list of the main documents of the payment organization of the first category to be stored, and the terms of their storage;

     requirements to the content of the financial stability restoration plan for a first-category payment organization, the procedure and deadlines for its submission to the National Bank of the Republic of Kazakhstan;

     requirements for the functioning of the digital infrastructure and ensuring information security in the financial sector, including cybersecurity, of a payment organization of the first category;

     the procedure for reporting by a payment organization of the first category, including the forms, list, frequency and timing of its submission;

     5-3) Approves prudential standards and other mandatory norms and limits for payment organizations of the first category, their limits and calculation methods;

     5-4) approves the rules for the formation of a risk management and internal control system for payment organizations of the first category;

     5-5) approves the rules for the application of supervisory response measures to payment organizations of the first category in matters within its competence.;

     5-6) Approves the requirements to the rules of internal control in order to counteract the legalization (laundering) of proceeds from crime, the financing of terrorism and the financing of the proliferation of weapons of mass destruction for payment organizations of the first category;";

     subparagraph 6) should be worded as follows:

     "6) performs the registration of payment organizations of the second category;";

     15) paragraph 12 of article 25 shall be worded as follows:

     "12. Money transfer in favor of the beneficiary may be carried out by a bank, an organization engaged in certain types of banking operations, in national or foreign currency through the use of money transfer systems.

     A bank or an organization that performs certain types of banking operations must ensure that money is transferred to the beneficiary in accordance with the formats and rules of the money transfer system.

     Payments and (or) money transfers from the Republic of Kazakhstan and to the Republic of Kazakhstan on bank accounts of legal entities are carried out by payment organizations of the first category only for export and (or) import, provided for by the Law of the Republic of Kazakhstan "On Currency Regulation and Currency Control".";

     16) in article 27:

     Paragraph 1 should be worded as follows:

     "1. A bank account is opened upon the conclusion of a bank account agreement, correspondent account agreement and (or) bank deposit agreement between the client and a bank or an organization engaged in certain types of banking operations.

     An agreement concluded when opening a current or correspondent account or a bank deposit is an agreement concluded when providing a payment service provided for in paragraph 4 of Article 13 of this Law. It is allowed to establish conditions for the provision of payment services in other contracts concluded with the client.

     Prior to the conclusion of a bank account agreement, based on the client's application for opening a bank account sent in electronic form, it is allowed for the bank or an organization performing certain types of banking operations to assign an individual identification code to the client. In this case, the bank account is considered to be opened after the conclusion of a bank account agreement between the client and the bank or an organization engaged in certain types of banking operations. If the client fails to conclude a bank account agreement, the bank or an organization engaged in certain types of banking operations will cancel the individual identification code in accordance with the procedure established by the regulatory legal act of the National Bank of the Republic of Kazakhstan.

     Biometric authentication of clients when establishing business relations remotely by opening a bank account is carried out through the Identification Data Exchange Center of the National Bank of the Republic of Kazakhstan.";

     in subparagraph 13) of the third part of paragraph 10 and part two of paragraph 11, the words "for interbank payments and (or) money transfers made on the territory of the Republic of Kazakhstan using payment cards" should be replaced by the words "in payment systems operated by the National Bank of the Republic of Kazakhstan or a legal entity of the National Bank of the Republic of Kazakhstan, which carries out operational, technological and other functions defined by the National Bank of the Republic of Kazakhstan to ensure the functioning of the national digital financial infrastructure";

     17) the fourth part of paragraph 6 of Article 32 should be worded as follows:

     "The requirements provided for in parts two and three of this paragraph do not apply to money held in the savings account of a borrower who is an individual or an individual entrepreneur, if the individual is registered as an individual entrepreneur engaged in personal entrepreneurship.";

     18) in article 42:

     ""in paragraph 2, the words "and the National Postal Operator" should be replaced by the words ", the National Postal Operator and payment organizations of the first category";

     ""in the third part of paragraph 5, the words "through remote identification based on information from available sources received from the operational center of the interbank money transfer system" should be replaced by the words "through remote identification through the Identification Data Exchange Center of the National Bank of the Republic of Kazakhstan".;

     19) ""subparagraph 5) of the first part of paragraph 7 of Article 46 after the words "by the Law of the Republic of Kazakhstan "On Public Procurement," add the words "money and (or) securities of banks in the central depository and (or) clearing organization intended to ensure the completion of settlements in payment systems operated by the National Bank of the Republic of Kazakhstan. Kazakhstan or a legal entity of the National Bank of the Republic of Kazakhstan performing operational, technological and other functions defined by the National Bank of the Republic of Kazakhstan, to ensure the functioning of the national digital financial infrastructure,".

     25. To the Law of the Republic of Kazakhstan dated May 6, 2017 "On Collection activities":

     "1)"in paragraph 2 of Article 10, the words "electronic form" should be replaced by the words "digital form".;

     "2") in subparagraph 3-1) of paragraph 1 of Article 15, the words "by the regulatory legal act of the authorized body for the settlement of debt collection agencies of individuals" should be replaced by the words "by the procedure for considering the application of the debtor – individual for amendments to the terms of the bank loan agreement and the agreement on the provision of microcredit, established by the regulatory legal act of the authorized body".;

     3) paragraph 4 of Article 18 should be worded as follows:

     "4. As sanctions, the authorized body has the right to apply the exclusion of a collection agency from the register of collection agencies on the grounds and in accordance with the procedure provided for in paragraphs 1), 2), 3), 4), 5), 6), 7), 8), 9) and 10) of the first part of paragraph 1 of Article 9 of this Law.";

     4) in subparagraph 2) of paragraph 1 of Article 19-3:

     "Digital" objects should be replaced with the words "digital objects" in part five.;

     ""Digital objects" should be replaced with the words "informatization objects" in part seven.;

     5) the second part of paragraph 1 of Article 19-8 should be worded as follows:

     "Impact measures are understood as a limited measure of impact in the form of a mandatory written order and sanction.".

     26. To the Law of the Republic of Kazakhstan dated July 2, 2018 "On Currency Regulation and Currency Control":

"1)"in subparagraph 4) of paragraph 1 of Article 6, the words "authorized body for regulation, control and supervision of the financial market and financial organizations" should be replaced by the words "for conducting banking operations".;

     "2") in paragraph 5 of article 13, the words "information system" should be replaced by the words "digital system".

     27. To the Law of the Republic of Kazakhstan dated February 6, 2023 "On Digital Assets in the Republic of Kazakhstan":

     1) in article 4:

     in the second part of paragraph 1:

     ""in the seventh paragraph of subparagraph 1) and the eighth paragraph of subparagraph 2), the words "information security" should be replaced by the word "cybersecurity".;

     in subparagraph 4):

     "add"the first and second paragraphs after the word "assets," with the words "the underlying asset of which is money (stablecoins),";

     The third paragraph should be worded as follows:

     "requirements for issuers of digital financial assets whose underlying asset is money (stablecoins) and the decision to issue digital financial assets whose underlying asset is money (stablecoins)";

     Add the words "the underlying asset of which is money (stablecoins)" to the fourth paragraph.;

     Add the words "the underlying asset of which is money (stablecoins)" to the fifth paragraph.;

     "add "the words "the base asset of which is money (stablecoins)," to the sixth paragraph after the word "assets.";

     Subparagraph 8) should be worded as follows:

     "8) rules for applying limited measures of influence to the operator of the digital financial assets platform, the operator of the digital assets trading platform, the organization for storing the underlying assets of digital financial assets and the issuer of digital financial assets provided for in subparagraph 1) of Article 5 of this Law;";

     "subparagraph 13") after the words "to financial institutions", add the words "and residents".;

     Sub-paragraph 14) should be deleted;

     in paragraph 2:

     add subparagraph 5-1) as follows:

     "5-1) Approves the rules for the application of limited measures of influence to the organization for the storage of basic assets of digital financial assets and the issuer of digital financial assets provided for in paragraphs 2) and 3) of Article 5 of this Law;";

     Subparagraph 7) should be worded as follows:

     "7) approves, together with the National Bank of the Republic of Kazakhstan, the rules for reporting organizations for storing the underlying asset of a digital financial asset to the National Bank of the Republic of Kazakhstan, including the forms, frequency and timing of its submission;";

     ""(except for digital financial assets provided for in subparagraph 1) of Article 5 of this Law), add the words "(after the word "assets").;

     2) in article 6:

     Paragraph 5 should be supplemented with parts four, five and six as follows:

     "The operator of the trading platform is obliged to ensure the separate storage of its own funds and digital assets of clients at all stages of treatment.

     Funds (money and digital assets) of clients (issuers of digital financial assets) and the operator of the digital asset trading platform and/or the operator of the digital financial asset platform are stored in separate bank accounts and digital asset wallets.

     The operator of the digital financial assets platform, combining its activities with the operator of the digital assets trading platform, ensures the separate storage of its own funds and customer funds in separate bank accounts and digital asset wallets for each type of professional activity.";

     ""In subparagraph 6) of paragraph 10, the words "information security" should be replaced by the word "cybersecurity".;

     3) in article 7:

     In subparagraph 1) of paragraph 8, the words "payment organization" should be deleted.;

     add paragraph 9 as follows:

     "9. The provisions of paragraphs 3 and 4 of this article apply to organizations for the storage of basic assets of digital financial assets and issuers of digital financial assets provided for in subparagraph 1) of Article 5 of this Law.";

     "4") in subparagraph 4) of paragraph 4 of Article 12-2, the words "information security" should be replaced by the word "cybersecurity".

     28. To the Law of the Republic of Kazakhstan dated July 1, 2024 "On Public Procurement":

     Replace "international" with the word "credit" in subparagraph 8) of paragraph 3 of article 16.

     29. To the Law of the Republic of Kazakhstan dated June 30, 2025 "On Endowment Funds and Endowment Funds (Endowments)":

     Add paragraph 2-1 to article 27 as follows:

     "2-1. Paragraph 2 of this article does not apply to investments of an endowment fund (endowment capital) in shares of an investment fund specially created (created) to manage the assets of this endowment fund (endowment capital) or joint asset management of several endowment funds (endowment capitals).".

     30. To the Law of the Republic of Kazakhstan dated January 16, 2026 "On Banks and Banking Activities in the Republic of Kazakhstan":

     """"""""""""""""""(1) throughout the text, the words "electronic government", "information system", "information systems", "information system", "information system", "objects of informatization", "objects of informatization", respectively, should be replaced by the words "digital government", "digital system", "digital systems", "digital systems", "digital systems", "digital systems", "digital systems", "digital systems", "digital systems", "digital systems", "digital systems", "digital """"""""""digital systems", "digital system", "digital system", "digital objects", "digital objects";

     2) delete subparagraph 1) of Article 1;

     3) paragraph 23 of Article 19 should be supplemented with subparagraph 3) as follows:

     "3) a payment organization of the first category for the provision of payment services and banking operations provided for in paragraphs 1) (opening and maintaining bank accounts of legal entities) and 5) (transfer operations: following instructions from legal entities on payments and money transfers) of the first paragraph of paragraph 2 of Article 22 of this Law.";

     4) add subparagraph 3) to the third part of paragraph 8 of Article 22 as follows:

     "3) a payment organization of the first category provides payment services and performs banking operations provided for in paragraphs 1) (opening and maintaining bank accounts of legal entities) and 5) (transfer operations: following instructions from legal entities on payments and money transfers) of the first paragraph of paragraph 2 of this Article.";

     5) in article 23:

     Part one of paragraph 2:

     add subparagraph 7-1) as follows:

     "7-1) credit rating agencies;";

     Replace "in"subparagraph 13) with the words "in the field of information and communication technologies" with the words "in the field of digital technologies".;

     ""In subparagraph 14), replace the words "information security" with the word "cybersecurity".;

     ""in subparagraph 8) of the first part of paragraph 7, the words "legislation of the Republic of Kazakhstan on informatization" should be replaced by the words "digital legislation of the Republic of Kazakhstan";

     "6)"in the fourth part of paragraph 6 of Article 52, the words "information security" should be replaced by the word "cybersecurity".;

     "7)"in the third part of paragraph 5 of Article 53, the word "loans" should be replaced by the words "bank loans, micro-loans".;

     8) add paragraph 2-1 to article 54 as follows:

     "2-1. If the fulfillment of an obligation under a bank loan agreement is secured simultaneously by a pledge and a guarantee (surety) of an individual, then in the case of proper fulfillment by the borrower of obligations under the bank loan agreement and provided that the market value of the collateral item(s) determined by the appraiser at the time of the guarantor's (surety's) request – an individual with a claim for termination of the guarantee (surety) exceeds the amount of the outstanding part of the borrower's obligations, taking into account the requirements of the bank's collateral policy, the bank is obliged to consider the issue of termination of the guarantee (surety) agreement within ten working days from the date of the individual's guarantor (surety) request.";

     9) in article 55:

     ""digital" should be replaced with the word "information and communication" throughout the text;

     add ""in the financial sector, including cybersecurity," to the headline after the words "information security.";

     in paragraph 1:

     add ""in the financial sector, including cybersecurity,"" to the first paragraph after the words "information security.";

     in subparagraph 1):

     Replace ""information security audit"" with "cybersecurity audit";

     add the words "in the financial sector and cybersecurity";

     ""Add the words "in the financial sphere, including cybersecurity," to sub-paragraphs 2), 3) and 4) after the words "information security.";

     subparagraph 7) should be supplemented with the words "in the financial sphere and cybersecurity";

     in paragraph 2:

     add ""in the financial sector, including cybersecurity," after the words "information security.";

     ""complies with information security in accordance with the requirements established" should be replaced by the words "compliance with the requirements for ensuring information security in the financial sector, including cybersecurity, of the bank, established";

     """"""""" and ""in paragraph 3, the words "information security", "information security", "in the field of information security" should be replaced by the words "cybersecurity", "cybersecurity", "in the field of digitalization", respectively;

     Add ""in the financial sphere, including cybersecurity,""paragraphs 4 and 5 after the words "information security.";

     10) in article 61:

     in paragraph 2:

     The third part should be worded as follows:

     "The procedure for reviewing the individual borrower's request for amendments to the terms of the bank loan agreement and the micro–loan agreement is determined by a regulatory legal act of the authorized body and includes:

1) the procedure for reviewing the individual borrower's application for amendments to the terms of the bank loan agreement and the micro–loan agreement, as well as for changing the conditions for fulfilling obligations under the bank loan agreement and the micro-loan agreement, the rights (claims) for which have been assigned to collection agencies;

     2) a list of documents attached to the individual borrower's application for amendments to the terms of the bank loan agreement and the microcredit agreement;

     3) requirements to the internal procedure of the bank and microfinance organization for making credit decisions on restructuring bank loans and microcredits of individuals;

     4) the procedure for granting a military serviceman a deferral of payment on the principal debt and remuneration for a period including the duration of military service and sixty calendar days after its completion, without accrual of remuneration for a bank loan, microcredit;

     5) criteria for debt subject to collective settlement, as well as the procedure and conditions for collective debt settlement;

     6) the procedure for informing the authorized body about the results of consideration of applications from individual borrowers for amendments to the terms of the bank loan agreement and the microcredit agreement.";

     add the following part of the fourth:

     "The Bank provides information on the results of consideration of applications from individual borrowers for amendments to the terms of the bank loan agreement in accordance with the regulatory legal act of the National Bank of the Republic of Kazakhstan specified in paragraph 1 of Article 75 of this Law.";

     The third part of paragraph 3 should be worded as follows:

     "The requirements for the bank's internal procedure for making credit decisions on restructuring loans to individuals are determined by the regulatory legal act of the authorized body specified in part three of paragraph 2 of this article.";

     in paragraph 10:

     ""In part three, replace the words "borrower's debt" with the words "individual borrower's debt".;

     The fourth part should be worded as follows:

     "The amount of money stored in the current account or in aggregate in the current accounts of an individual or an individual entrepreneur, if the individual is registered as an individual entrepreneur operating as a personal business opened in one bank, when fulfilling a payment requirement, must be at least twice the minimum subsistence level established for the relevant financial year by law. about the republican budget.";

     add the following part of the fifth:

     "The requirements provided for in parts three and four of this paragraph do not apply to money held in the savings account of a borrower who is an individual or an individual entrepreneur, if the individual is registered as an individual entrepreneur engaged in personal entrepreneurship.";

     11) in subparagraph 8) of the first part of paragraph 2 of Article 62, the words "for interbank payments and (or) money transfers made on the territory of the Republic of Kazakhstan using payment cards" should be replaced by the words "in payment systems operated by the National Bank of the Republic of Kazakhstan or a legal entity of the National Bank of the Republic of Kazakhstan engaged in operational, technological and other functions defined by the National Bank of the Republic of Kazakhstan to ensure the functioning of the national digital financial infrastructure";

     12) the third paragraph of the first part of paragraph 11 of Article 63 should be worded as follows:

     "compliance with the procedure for reviewing the individual borrower's request for amendments to the terms of the bank loan agreement and the micro–loan agreement established by the regulatory legal act of the authorized body.";

     13) in article 69:

     in the first part of paragraph 6:

     in subparagraph 4):

     ""In the second paragraph, replace the words "On informatization" with the words "On government and socially responsible services";

     Replace ""On cybersecurity"" with the words "On informatization" in the third paragraph;

     "subparagraph 5") after the words "information security", add the words "in the financial sphere, including cybersecurity,";

     ""In subparagraph 1) of paragraph 9, the words "information security center" should be replaced by the word "cybersecurity center".;

     14) in subparagraph 22) of the second part of paragraph 1 of Article 70, the words "for interbank payments and (or) money transfers made on the territory of the Republic of Kazakhstan using payment cards" should be replaced by the words "in payment systems operated by the National Bank of the Republic of Kazakhstan or a legal entity of the National Bank of the Republic of Kazakhstan engaged in operational, technological and other functions defined by the National Bank of the Republic of Kazakhstan to ensure the functioning of the national digital financial infrastructure";

     "15)"in the first part of paragraph 5 of Article 75, the words "information and communication" should be replaced by the word "digital".;

     "16") paragraph 7 of Article 78 after the words "in cash in foreign currency," add the words "to payment organizations of the first category.";

     17) in the first part of paragraph 9 of Article 82:

     Replace "informational" with "digital";

     Add ""in the financial sector, including cybersecurity""after the words "information security".;

     18) add paragraph 11 to article 83 as follows:

     "11. "The decision to suspend or revoke the license of a payment organization of the first category is made by the National Bank of the Republic of Kazakhstan on the grounds provided for in Article 15-5 of the Law of the Republic of Kazakhstan "On Payments and Payment Systems.";

     "19") in subparagraph 2) of the second part of paragraph 7 of Article 94, the words "electronic form" should be replaced by the words "digital form".

     31. To the Law of the Republic of Kazakhstan dated January 16, 2026 "On Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan on Regulation and Development of the Financial Market, Communications and Bankruptcy":

     in paragraph 1 of article 2:

     "subparagraph 3") after the words "seventy-eighth", add the words "one hundred and thirty-sixth".;

     ""In subparagraph 6), the words "fortieth – two hundred and twentieth" should be replaced by the words "fortieth – seventy–seventh, seventy–ninth - one hundred and thirty-fifth, one hundred and thirty-seventh - two hundred and twentieth".

     Article 2.

     1. This Law shall enter into force sixty calendar days after the date of its first official publication, with the exception of:

     1) paragraphs of the fifteenth, sixteenth and seventeenth subitems 4) of paragraph 14 of Article 1, which shall enter into force from the date of its first official publication.;

     2) the third paragraph of paragraph 31 of Article 1, which will enter into force on June 30, 2026;

     3) paragraph four of subparagraph 7) of paragraph 13, paragraphs eleven and twelve of subparagraph 7) of paragraph 20, paragraph three of subparagraph 4) of paragraph 25, paragraphs eleven and twelve of subparagraph 10), subparagraph 15) of paragraph 30 of Article 1, which enter into force on January 1, 2027.

     2. Establish that:

     1) subparagraph 6) of paragraph 13 of Article 1 of this Law applies to legal relations that have arisen since August 31, 2025;

     2) the requirements of paragraphs fifteen, sixteenth and seventeenth of subparagraph 4) of paragraph 14 of Article 1 of this Law apply to legal relations that have arisen since March 19, 2026;

     3) persons who, as of the date of entry into force of paragraphs fifteen, sixteenth and seventeenth subitems 4) of paragraph 14 of Article 1 of this Law, indirectly own and (or) use and (or) dispose of a total of ten or more percent of the bank's voting shares, including through derivative securities issued in accordance with by the legislation of the Republic of Kazakhstan or a foreign state, the basic asset of which is the voting shares of the bank, and also have control or the ability to indirectly influence decisions taken by the bank (to vote) with ten or more percent of the bank's voting shares without obtaining the prior written consent of the authorized body, are obliged to conduct their activities within thirty calendar days from the date of entry into force of paragraphs fifteen, sixteenth and seventeenth subitems 4) of paragraph 14 of Article 1 of this Law. in accordance with the requirements established by Article 9-5 of the Law of the Republic of Kazakhstan "On State Regulation, control and supervision of the financial market and financial organizations", by submitting relevant applications and documents for the acquisition of the status of a major participant (bank holding company) or to reduce the number of indirectly owned shares of the bank to a level below that established by Article 9 of the Law of the Republic of Kazakhstan "On Banks and Banking Activities in the Republic of Kazakhstan";

     4) the requirements of subparagraph 4) of paragraph 20 and subparagraph 8) of paragraph 30 of Article 1 of this Law apply to legal relations arising from guarantee (surety) agreements securing bank loan agreements and microcredit agreements concluded after the enactment of this Law.;

     5) within three months from the date of entry into force of this Law, the National Bank of the Republic of Kazakhstan shall send to payment organizations included in the register of payment organizations before the date of entry into force of this Law a notification on their assignment to payment organizations of the second category with appropriate amendments to the register of payment organizations.;

     6) the tenth paragraph of subparagraph 7) of paragraph 20 and the tenth paragraph of subparagraph 10) of paragraph 30 of Article 1 of this Law are valid until January 1, 2027.

President    

Republic of Kazakhstan     

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