Article 10. Features of State Regulation, Control and Supervision of Banking Activities of the Law on State Regulation, Control and Supervision of the Financial Market and Financial Organizations

Home / RLA / Article 10. Features of State Regulation, Control and Supervision of Banking Activities of the Law on State Regulation, Control and Supervision of the Financial Market and Financial Organizations

In order to implement state regulation, control and supervision of banking activities, the authorized body:

1) determines the procedure for issuing and refusing to issue consent for individuals and legal entities to acquire the status of a major participant in a bank and a bank holding company, permits for banks and bank holding companies to establish and acquire a subsidiary, as well as permits for banks and bank holding companies to acquire significant participation in the capital of legal entities, issues or refuses to issue such consents and permissions;

2) sets minimum amounts of banks' equity;

3) establishes requirements for the formation of reserve capital of banks;

4) approves prudential standards and other mandatory rules and limits for banking conglomerates;

5) (deleted - No. 230 dated February 19, 2007)

6) establishes the procedure for classifying assets and contingent liabilities and creating provisions against them. The procedure for classifying assets and contingent liabilities as doubtful and hopeless is determined in consultation with the state body responsible for tax control over the fulfillment of tax obligations to the state.;

7) excluded by the Law of the Republic of Kazakhstan dated 30.06.2025 No. 205-VIII (effective ten calendar days after the date of its first official publication);

8) determines the procedure for the application and makes a decision on the application of compulsory measures to the affiliated companies of the bank, provided for by the laws of the Republic of Kazakhstan;

9) adopt, in cases established by the banking legislation of the Republic of Kazakhstan, a decision on the conservation of the bank and appoint a temporary administration (temporary governor of the bank);

9-1) in cases stipulated by the laws of the Republic of Kazakhstan, decides on the establishment and termination of the stabilization bank;

10) adopt, in cases established by the laws of the Republic of Kazakhstan, a decision to revoke the license to conduct all or certain operations provided for by the banking legislation of the Republic of Kazakhstan, and appoint the interim administration (temporary administrator) of the bank, the liquidation commission of the branch of the non-resident bank of the Republic of Kazakhstan forcibly ceasing operations.;

10-1) decides, in cases established by the laws of the Republic of Kazakhstan, to complete the procedure for voluntary or compulsory termination of the activities of a branch of a non-resident bank of the Republic of Kazakhstan.;

11) performs other functions in accordance with the legislation of the Republic of Kazakhstan.

The Law of the Republic of Kazakhstan dated July 4, 2003 No. 474-II.

This Law regulates public relations related to the implementation of state regulation, control and supervision of the financial market and financial organizations, and is aimed at increasing the stability of the financial system of the Republic of Kazakhstan and creating conditions to prevent violations of the rights and legitimate interests of consumers of financial services.

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Republic of Kazakhstan

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