On the membership of the Republic of Kazakhstan in the International Monetary Fund, the International Bank for Reconstruction and Development, the International Finance Corporation, the International Development Association, the Multilateral Investment Guarantee Agency, the International Center for Settlement of Investment Disputes, the European Bank for Reconstruction and Development, the Asian Development Bank, the Islamic Development Bank, the Asian Infrastructure Investment Bank

The Law of the Republic of Kazakhstan dated December 6, 2001 No. 264.

      The footnote. Title as amended by the Law of the Republic of Kazakhstan dated 30.10.2017 No. 103-VI (effective ten calendar days after the date of its first official publication).

     This Law defines the legal terms of membership of the Republic of Kazakhstan in the International Monetary Fund, the International Bank for Reconstruction and Development, the International Finance Corporation, the International Development Association, the Multilateral Investment Guarantee Agency, the International Center for Settlement of Investment Disputes, the European Bank for Reconstruction and Development, the Asian Development Bank, the Islamic Development Bank, the Asian Infrastructure Investment Bank (hereinafter – international organizations).

     The footnote. The preamble as amended by the Law of the Republic of Kazakhstan dated 30.10.2017 No. 103-VI (effective ten calendar days after the date of its first official publication).  

Article 1. Membership of the Republic of Kazakhstan in international organizations

     1. The Republic of Kazakhstan is a member of the International Monetary Fund (hereinafter referred to as the IMF), the International Bank for Reconstruction and Development (hereinafter referred to as the IBRD), the International Finance Corporation (hereinafter referred to as the IFC), the International Development Association (hereinafter referred to as the IDA), the Multilateral Investment Guarantee Agency (hereinafter referred to as the MIGA), the International Center for Settlement of Investment Disputes (hereinafter – ICSID), the European Bank for Reconstruction and Development (hereinafter – EBRD), the Asian Development Bank (hereinafter – ADB), the Islamic Development Bank (hereinafter – IDB), the Asian Infrastructure Investment Bank (hereinafter – AIIB).

     2. The Republic of Kazakhstan is a state party to the articles of agreements of the IMF, IBRD, IFC, MAP, AIIB with all amendments, the Founding Treaty of the IDB, the Convention on the Establishment of the IAG and the Convention on the Settlement of Disputes in the Field of Investments between States and Citizens of Other States, agreements on the establishment of the EBRD, ADB and adopted the terms and conditions of resolutions of the Council, respectively. the Governors of the IMF, IBRD, IFC, IDA, MAGI, EBRD, ADB, AIIB regarding the membership of the Republic of Kazakhstan in these international organizations.

     3. The Republic of Kazakhstan has assumed all obligations of a participant in the IMF's Special Drawing Rights Department in accordance with the legislation of the Republic of Kazakhstan.

     The footnote. Article 1 as amended by the Law of the Republic of Kazakhstan dated 30.10.2017 No. 103-VI (effective ten calendar days after the date of its first official publication).  

Article 2. Financial relations of the Republic of Kazakhstan related to membership in international organizations  

     1. The Government of the Republic of Kazakhstan, represented by the Ministry of Finance of the Republic of Kazakhstan, is authorized to attract loans, use other forms of financing and ensure payment on behalf of the Republic of Kazakhstan to the IBRD, IFC, IDA, MAGI, EBRD, ADB, IDB, AIIB amounts in accordance with the terms of the relevant loan agreements and the provisions of resolutions, relevant articles of agreements, establishment agreements, conventions or The Founding Agreement relating to the membership of the Republic of Kazakhstan in these international organizations.

     2. The Ministry of Finance of the Republic of Kazakhstan is authorized, in accordance with the articles of the agreements of the IBRD, IFC, IDA, AIIB, with the agreements on the establishment of the EBRD, ADB and the Convention on the Establishment of MAGI, to issue any non-transferable debt obligations without remuneration that may be necessary or consistent with the membership of the Republic of Kazakhstan in the IBRD, IFC, IDA, MAGA, EBRD, ADB, AIIB.

      3. The National Bank of the Republic of Kazakhstan is authorized to attract IMF funds in the form of their purchase, as well as to ensure the payment of amounts on behalf of the Republic of Kazakhstan to the IMF in accordance with the terms and conditions of resolutions related to the membership of the Republic of Kazakhstan in the IMF and Articles of Agreement of the IMF, as well as to make payments in connection with the participation of the Republic of Kazakhstan in the activities of the Department of Special Drawing Rights The IMF. The National Bank of the Republic of Kazakhstan, in coordination with the Government of the Republic of Kazakhstan, has the right to attract loans from other international organizations, determine the financial conditions for attracting loans and independently conclude agreements on such loans.  

     4. The National Bank of the Republic of Kazakhstan is authorized, in accordance with the Articles of the IMF Agreement, to issue any non-transferable debt obligations without remuneration that may be necessary or consistent with the membership of the Republic of Kazakhstan in the IMF.

     The footnote. Article 2 as amended by the Law of the Republic of Kazakhstan dated 30.10.2017 No. 103-VI (effective ten calendar days after the date of its first official publication).  

Article 3. State bodies authorized to establish relations with international organizations

     1. The Ministry of Finance of the Republic of Kazakhstan acts as the financial authority of the Republic of Kazakhstan in accordance with the requirements of Article III, Section 2 of the Articles of Agreement of the IBRD.

     The Ministry of Finance of the Republic of Kazakhstan is authorized to perform on behalf of the Republic of Kazakhstan all operations and transactions stipulated by the provisions of the articles of the agreements of the IBRD, AIIB, agreements on the establishment of the EBRD, ADB, the Founding Agreement of the IDB.

     2. The National Bank of the Republic of Kazakhstan acts as the financial authority of the Republic of Kazakhstan in accordance with the requirements of Article V, section 1 of the Articles of Agreement of the IMF.

     The National Bank of the Republic of Kazakhstan is authorized to perform on behalf of the Republic of Kazakhstan all operations and transactions stipulated by the provisions of the Articles of the IMF Agreement.

     3. The Ministry of Finance has been designated as the communication channel of the Republic of Kazakhstan with relevant international organizations in accordance with the requirements of Article IV, section 10 of the Articles of the IFC Agreement, Article VI, section 10 of the Articles of the IDA Agreement, Chapter V, Article 38 of the Convention on the Establishment of MAGI, Chapter VI, Article 34 of the Agreement on the Establishment of the EBRD, section VI, Article 38 of the Agreement on the Establishment of the ADB, in accordance with with the requirements of section V of Article 40 of the Founding Agreement of the IDB – The official designated by the Government of the Republic of Kazakhstan, in accordance with the requirements of Chapter VI of Article 33 of the Articles of Agreement of the AIIB, is the appropriate official body designated by the Government of the Republic of Kazakhstan.

     4. The National Bank of the Republic of Kazakhstan is appointed as the depository of all holdings in the national currency of the Republic of Kazakhstan, as well as other assets of the IMF, IBRD, IFC, IDA, MAGI, EBRD, ADB, IDB, AIIB in accordance with the relevant articles of agreements, establishment agreements, conventions or the Founding Agreement.

     5. The Government of the Republic of Kazakhstan is authorized to appoint as a representative of the Republic of Kazakhstan (Governor) to the Boards of Governors of the IMF, IBRD, IFC, IDA, MAGI, EBRD, ADB, IDB, AIIB, and the ICSID Administrative Council an appropriate official to perform duties from the Republic of Kazakhstan, as well as his deputy with full powers to perform duties in the absence of the Governor.

     The footnote. Article 3 as amended by the Law of the Republic of Kazakhstan dated 30.10.2017 No. 103-VI (effective ten calendar days after the date of its first official publication).  

Article 4. Implementation of operations related to membership in international organizations

     Transfers of amounts payable by the Republic of Kazakhstan or the Republic of Kazakhstan in the course of operations and transactions provided for in the provisions of the articles of agreements of the IMF, IBRD, IFC, IDA, AIIB, the Convention on the Establishment of MAGI, agreements on the establishment of the EBRD, ADB, the Founding Agreement of the IDB, are carried out through the National Bank of the Republic of Kazakhstan.

     The footnote. Article 4 as amended by the Law of the Republic of Kazakhstan dated 30.10.2017 No. 103-VI (effective ten calendar days after the date of its first official publication).  

Article 5. Competence of the Government of the Republic of Kazakhstan on issues related to the membership of the Republic of Kazakhstan in the IMF  

     1. The Government of the Republic of Kazakhstan cooperates and cooperates with the IMF and ensures the development of relations between the Republic of Kazakhstan and the IMF.  

     2. The Government of the Republic of Kazakhstan takes the necessary measures jointly with the National Bank of the Republic of Kazakhstan on issues arising in fulfilling the obligations of the Republic of Kazakhstan in connection with the membership of the Republic of Kazakhstan in the IMF.  

Article 6. Regulatory legal acts of state bodies  

      In order to comply with the articles of agreements, the Founding Agreement, conventions, establishment agreements and resolutions provided for in paragraph 2 of Article 1 of this Law, the State bodies of the Republic of Kazakhstan, within the limits of their competence, adopt regulatory legal acts necessary to fulfill the obligations of the Republic of Kazakhstan.  

President    

Republic of Kazakhstan     

© 2012. RSE na PHB "Institute of Legislation and Legal Information of the Republic of Kazakhstan" of the Ministry of Justice of the Republic of Kazakhstan  

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