Article 10. Reserve capital, revaluation accounts and provisions (reserves) The National Bank Of Kazakhstan Law On The National Bank Of The Republic Of Kazakhstan

      The footnote. Title as amended by the Law of the Republic of Kazakhstan dated 24.11.2015 No. 422-V (effective from 01.01.2016).

     The reserve capital of the National Bank of Kazakhstan is formed in the amount of at least the authorized capital, is replenished from retained net income and is intended solely to compensate for losses and recover losses on ongoing operations in accordance with the procedure established by the Board of the National Bank of Kazakhstan. The account for the revaluation of gold and foreign exchange reserves and other assets in foreign currency is intended to account for income from their revaluation. The revaluation account for fixed assets is intended to account for the results of the indexation of fixed assets of the National Bank of Kazakhstan.

     Provisions (reserves) for doubtful and uncollectible claims are formed from the expenses of the National Bank of Kazakhstan, including loans, deposits, securities, settlement losses, account balances and other assets, including volumes of unfinished construction, other claims for non-monetary activities of the National Bank of Kazakhstan and social payments.

The Law of the Republic of Kazakhstan dated March 30, 1995 No. 2155.

Attention!   

       Law and Law Law Law draws your attention to the fact that this document is basic and does not always meet the requirements of a particular situation. Our lawyers are ready to assist you in legal advice, drawing up any legal document suitable for your situation.  

 For more information,  please contact a Lawyer / Attorney by phone: +7 (708) 971-78-58; +7 (700) 978 5755, +7 (700) 978 5085. 

Attorney at Law Almaty Lawyer Legal Services Legal Advice Civil Criminal Administrative Cases Disputes Protection Arbitration Law Firm Kazakhstan Law Office  Court Cases