Article 15. Restrictions on the activities of the Development Bank of the Law On the Development Bank of Kazakhstan

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The Development Bank is prohibited from:

1) to issue loans to individuals, credit partnerships, investment portfolio managers with the right to attract voluntary pension contributions, investment funds, insurance organizations, as well as bank guarantees, sureties and other obligations providing for monetary fulfillment of their obligations;

2) attract deposits from individuals and open bank accounts for individuals;

3) provide loans without observing the principles of urgency, payment, repayment;

4) provide cash settlement services for individuals;

5) to carry out additional external borrowing in the presence of overdue (more than one year) obligations on previously attracted loans.

The Law of the Republic of Kazakhstan dated April 25, 2001 No. 178.

President

Republic of Kazakhstan

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