On the ratification of the Agreement on Cooperation in the Field of Organization of the Integrated Foreign Exchange Market of the Member States of the Commonwealth of Independent States

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The Law of the Republic of Kazakhstan dated April 15, 2015 No. 302-V SAM

To ratify Agreement on cooperation in the field of organization of the integrated foreign exchange market of the States – signed in Ashgabat on December 5, 2012, with the following reservation: "The Republic of Kazakhstan declares that by the term "resident bank" referred to in Article 1 of this Agreement and further used in Article 2 of the Agreement, the Republic of Kazakhstan means a legal entity established in accordance with the legislation of one of the Parties, having the right, on the basis of a special permit (license or other basis) of the competent authority of this Party, to carry out banking operations and recognized by the bank under its legislation.".

President of the Republic of Kazakhstan N. NAZARBAYEV

AGREEMENT on cooperation in the field of organization of the integrated foreign exchange market of the Member States of the Commonwealth of Independent States States

Entered into force on May 20, 2015 - Bulletin of International Treaties of the Republic of Kazakhstan 2015, No. 4, art. 35

The Member States of the Commonwealth of Independent States, hereinafter referred to as the Parties, recognizing as a priority the creation of an integrated foreign exchange market of the Parties, taking into account the Organizational Foundations and principles of building an integrated foreign exchange market of the States - The CIS member States, approved by the Decision of the CIS Council of Heads of Government dated April 25, 2003, based on the need to create conditions for equal and mutually beneficial participation of resident banks of the Parties in performing conversion operations with foreign currencies in the integrated foreign exchange market of the CIS member States, agreed as follows:

Article 1

The terms used in this Agreement mean: integrated foreign exchange market - a set of internal foreign exchange markets of the Parties united by common principles of functioning and state regulation; resident bank - a legal entity or other legal entity that, on the basis of a special permit (license or other basis) of the competent authority of its state, has the right to carry out banking operations provided for by national legislation the relevant Party;  interbank conversion transactions - transactions of purchase and sale of foreign currency carried out by resident banks in the integrated foreign exchange market; competent authorities - central (national) banks and other government agencies of the Parties, which, in accordance with the national legislation of the Parties, carry out currency regulation and banking supervision;

Article 2

Each Party shall provide resident banks of the other Parties, which, in accordance with the legislation of their State of establishment, have the right to conduct foreign exchange transactions, access to their national foreign exchange market for interbank conversion operations on terms no less favorable than those provided to resident banks of that Party.

Article 3

The coordination of the actions of the competent authorities for the implementation of this Agreement, as well as the coordination of requirements for participants in the integrated foreign exchange market, based on the provisions of the legislation of the Parties and generally accepted international practice, in order to ensure equal competitive conditions in interbank conversion transactions, are entrusted to the CIS body responsible for the interaction of the CIS member states in the monetary and financial sphere.

Article 4

This Agreement does not affect the rights and obligations of the Parties under other international treaties to which they are parties.

Article 5

By mutual agreement of the Parties, amendments and additions may be made to this Agreement, which are formalized by appropriate protocols.

Article 6

Disputes between the Parties arising from the application and interpretation of this Agreement are resolved through consultations and negotiations between the Parties concerned. If it is impossible to resolve the disputed issues through consultations and negotiations, the Parties to the dispute, on the initiative of any of the interested Parties, apply to the CIS Economic Court or to another procedure by mutual agreement.

Article 7

The provisions of this Agreement apply to banks established and operating on the basis of international treaties (agreements), the founders of which are the States Parties to this Agreement, with permanent location in one of the States Parties to this Agreement.

Article 8

This Agreement shall enter into force on the date of receipt by the depositary of the third written notification that the signatory Parties have completed the internal procedures necessary for its entry into force. For the Parties that have completed the internal procedures later, this Agreement shall enter into force from the date of receipt by the depositary of the relevant documents.

Article 9

After its entry into force, this Agreement is open for accession by any CIS member State, as well as, with the consent of all Parties, for any other State that shares the goals and principles of this Agreement, by submitting an instrument of accession to the depositary. For a CIS member State, this Agreement shall enter into force on the date of receipt by the depositary of the instrument of accession. For a State that is not a member of the CIS, this Agreement shall enter into force on the date of receipt by the depositary of the last written notification of the consent of the signatory or acceding States to such accession.

Article 10

This Agreement is concluded for an indefinite period. Each of the Parties has the right to withdraw from this Agreement by sending a written notification of its intention to the depositary no later than six months prior to withdrawal.

Done in Ashgabat on December 5, 2012, in one original copy in the Russian language. The original copy is kept in the Executive Committee of the Commonwealth of Independent States, which will send a certified copy to each Party.

For the Republic of Azerbaijan

For the Russian Federation

For the Republic of Armenia

For the Republic of Tajikistan

For the Republic of Belarus

For Turkmenistan

For the Republic of Kazakhstan

For the Republic of Uzbekistan

For the Kyrgyz Republic

For Ukraine

For the Republic of Moldova

RESERVATION OF THE REPUBLIC OF ARMENIA to article 2 of the Agreement on Cooperation in the Field of Organization of the Integrated Foreign Exchange Market of the Participating States The Commonwealth of Independent States

Obligations stipulated by Article 2 of the Agreement will be implemented by the Republic of Armenia in accordance with national legislation in the field of licensing, regulation, control and supervision of interbank conversion operations.

President of the Republic of Armenia S. SARGSYAN

Reservation of the Republic of Kazakhstan to the Agreement on Cooperation in the field of organization of the Integrated Foreign Exchange Market of the CIS member States

The Republic of Kazakhstan declares that by the term "resident bank" given in Article 1 of this Agreement and further used in Article 2 of the Agreement, the Republic of Kazakhstan means a legal entity established in accordance with the legislation of one of the Parties, which has the right, on the basis of a special permit (license or other basis) of the competent authority of this Party, to carry out banking transactions and recognized by the bank according to its legislation.

President of the Republic of Kazakhstan N.Nazarbayev

I hereby certify that the attached text is an authentic copy of the Agreement on Cooperation in the Organization of the Integrated Foreign Exchange Market of the Member States of the Commonwealth of Independent States, adopted at the meeting of the Council of Heads of State of the Commonwealth of Independent States, which was held on December 5, 2012 in the city of Ashgabat. The original copy of the above-mentioned Agreement is kept in the Executive Committee of the Commonwealth of Independent States.

V. Garkun, First Deputy Chairman of the Executive Committee and Executive Secretary of the CIS

President

Republic of Kazakhstan

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