Article 19. Licensing of banking activities of the Law on Banks and Banking Activities in the Republic of Kazakhstan

Home / Laws / Article 19. Licensing of banking activities of the Law on Banks and Banking Activities in the Republic of Kazakhstan

1. A banking license is issued by an authorized body.

The procedure for issuing banking licenses to banks and branches of non–resident banks of the Republic of Kazakhstan is determined by a regulatory legal act of the authorized body.

2. The applicant is obliged to submit to the authorized body an application for a banking license in the form established by the authorized body, within one year from the date of issue by the authorized body.:

permits to open a bank or a branch of a non–resident bank of the Republic of Kazakhstan;

permits for the voluntary reorganization of a microfinance organization in the form of conversion to a bank, but no later than thirty calendar days before the end of the conversion period specified in the specified permit.

3. Before applying for a universal banking license or a basic banking license for the first time, the applicant is required to complete all organizational and technical measures related to the planned start of banking activities, including:

1) to prepare premises, equipment and software for automation of accounting and general accounting books that comply with the requirements of regulatory legal acts of the authorized body and the National Bank of the Republic of Kazakhstan;

2) to approve the rules on the general conditions of banking and other operations;

3) approve the applicant's development strategy for the next three years, which meets the requirements of the authorized body for the risk management and internal control system;

4) approve other internal documents related to the implementation of banking activities, including those necessary for the formation of a risk management and internal control system, in accordance with the requirements established by the regulatory legal acts of the authorized body.

4. Before applying for a license to conduct Islamic banking and other operations for the first time, the applicant must complete all organizational and technical measures related to the planned start of Islamic banking and other operations, including:

2) approve the regulation on the Council on the Principles of Islamic Finance;

3) appoint the head and members of the Council on the principles of Islamic finance;

4) to approve the rules on the general conditions for the implementation of Islamic banking and other operations;

5) approve the applicant's development strategy for the next three years, which meets the requirements of the authorized body for the risk management and internal control system;

6) approve other internal documents related to the implementation of Islamic banking and other operations, including those necessary for the formation of a risk management and internal control system, in accordance with the requirements established by the regulatory legal acts of the authorized body.

5. Before applying for the first time for both a universal banking license and a license to conduct Islamic banking and other operations, the applicant must:

1) comply with the requirements set out in paragraphs 3 and 4 of this Article;

2) ensure the formation of allocated assets for the implementation of Islamic banking operations, the minimum amount of which is established by the authorized body;

3) ensure separate accounting of assets and liabilities related to Islamic banking operations from other assets and liabilities of the bank.

6. The list of documents submitted by the applicant, a legal entity, for the first time to obtain a universal banking license or a basic banking license:

1) an application in which the applicant confirms, among other things, the fulfillment of the requirements and organizational and technical measures related to the planned commencement of banking activities provided for in paragraph 3 of this Article.;

2) a notarized copy of the applicant's articles of association;

3) a document confirming the payment of a license fee to the budget for the right to engage in certain types of activities, except in cases of payment of the specified fee through the "electronic government" payment gateway;

4) documents provided for the approval of persons proposed for senior management positions in accordance with the requirements established by Article 45 of this Law and Article 9-4 of the Law of the Republic of Kazakhstan "On State Regulation, Control and Supervision of the Financial Market and Financial Organizations";

5) a copy of the applicant's development strategy for the next three years, which meets the requirements of the authorized body for the risk management and internal control system.

The applicant's development strategy includes information about the applicant's organizational structure, the applicant's budget for the financial year in which the application is submitted, including forward-looking data on the applicant's compliance with prudential standards, as well as the estimated calculation of prudential standards of the banking conglomerate, which the applicant will join, if the acquisition of the status of a bank holding company by the applicant's parent organization leads to to create a banking conglomerate.

If the application is submitted less than two months before the end of the financial year, the applicant's development strategy additionally includes the information provided for in part two of this subparagraph for the financial year following the year in which the application is submitted.;

6) the applicant's staffing table, indicating the surnames, first names and patronymics (if they are indicated in the identity documents) employees;

7) copies of documents confirming the payment of the bank's authorized capital, the minimum amount of which is established by a regulatory legal act of the authorized body;

8) copies of documents confirming the authority of the person to submit the application and the documents and information attached to it.

7. The list of documents submitted by the applicant, a legal entity, for the first time to obtain a license to conduct Islamic banking and other operations:

1) the documents provided for in paragraph 6 of this Article;

2) a copy of the regulations on the Council on the Principles of Islamic Finance;

3) information about the persons appointed to the positions of the head and members of the Council on the principles of Islamic finance, confirming their compliance with the requirements established by paragraphs 2 and 3 of Article 36 of this Law.

8. The list of documents submitted by the applicant, a legal entity, for the first time to obtain simultaneously a universal banking license and a license to conduct Islamic banking and other operations:

1) the documents provided for in paragraphs 6 and 7 of this Article;

2) documents confirming the formation of allocated assets for Islamic banking operations, the minimum amount of which is established by the authorized body.

9. A banking license to a branch of a non–resident bank of the Republic of Kazakhstan is issued by the authorized body if the non–resident bank of the Republic of Kazakhstan has a valid license (valid permit) for banking activities issued (issued) by the financial supervisory authority of the state of which the non–resident bank of the Republic of Kazakhstan is a resident, similar in essence to the types of operations that the branch of the bank – plans to carry out non-resident activities of the Republic of Kazakhstan on the territory of the Republic of Kazakhstan.

10. The list of documents submitted by the applicant, a branch of a non–resident bank of the Republic of Kazakhstan for the first time to obtain a universal banking license:

1) the documents provided for in the sub-paragraphs 1), 3), 4), 5), 6) and 8) paragraph 6 of this article;

2) a notarized copy of the regulations on the branch approved by the management body of a non–resident bank of the Republic of Kazakhstan;

3) a written commitment (confirmation) of a non–resident bank of the Republic of Kazakhstan to assume responsibility for obligations arising in the course of carrying out the activities of its branch in the territory of the Republic of Kazakhstan, and to record such obligations on the balance sheet of a non–resident bank of the Republic of Kazakhstan;

4) a copy of the current license (valid permit) of a non–resident bank of the Republic of Kazakhstan, issued (issued) by the financial supervisory authority of the state of which the non–resident bank of the Republic of Kazakhstan is a resident, indicating the list of permitted types of transactions.

The specified license (permit) is submitted if, after submitting an application for permission to open a branch of a non–resident bank of the Republic of Kazakhstan, provided for in paragraph 1 of Article 16 of this Law, the list of types of operations that a non–resident bank of the Republic of Kazakhstan is entitled to carry out has been changed, or a non–resident bank of the Republic of Kazakhstan has received a new license (new permit).

11. The list of documents submitted by the applicant, a branch of a non–resident bank of the Republic of Kazakhstan for the first time to obtain a license to conduct Islamic banking and other operations:

1) the documents provided for in paragraph 10 of this Article;

2) a copy of the regulations (guidelines) on the Council on the Principles of Islamic Finance or other similar body permanently operating in a non–resident bank of the Republic of Kazakhstan;

3) information about persons appointed to the positions of the head and members of the Council on the Principles of Islamic finance or other similar body permanently operating in a non–resident bank of the Republic of Kazakhstan.

12. The list of documents submitted by the applicant, a branch of a non–resident bank of the Republic of Kazakhstan for the first time to obtain simultaneously a universal banking license and a license to conduct Islamic banking and other operations:

1) the documents provided for in paragraph 11 of this Article;

2) documents confirming the formation of allocated assets for Islamic banking operations, the minimum amount of which is established by the authorized body.

13. In order to obtain a banking license for additional types of operations, an operating bank or an operating branch of a non–resident bank of the Republic of Kazakhstan must:

1) ensure, within three consecutive months preceding the application for a banking license for additional types of operations, compliance with prudential standards and limits established by the authorized body, as well as macroprudential standards and limits established by the National Bank of the Republic of Kazakhstan;

2) approve the rules on the general conditions for the implementation of additional types of operations;

3) approve the updated financial stability restoration plan provided for in Article 88 of this Law.

14. The list of documents submitted by an operating bank, an operating branch of a non–resident bank of the Republic of Kazakhstan for obtaining a banking license for additional types of operations:

1) a statement in which the applicant confirms, among other things, the fulfillment of the requirements provided for in paragraph 13 of this article.;

2) a copy of the updated financial stability restoration plan provided for in Article 88 of this Law;

4) copies of documents confirming the authority of the person to submit the application and the documents and information attached to it.

15. A bank or a branch of a non–resident bank of the Republic of Kazakhstan that has a universal banking license must complete all organizational and technical measures related to the planned start of Islamic banking operations before applying for an additional license to conduct Islamic banking operations, including:

1) comply with the requirements set out in paragraph 13 of this article;

2) to adopt a resolution of the general meeting of shareholders of the bank, the governing body of the non–resident bank of the Republic of Kazakhstan on the intention to obtain a license to conduct Islamic banking and other operations;

3) make amendments and (or) additions to the charter provided for in paragraph 5 of Article 7 of this Law, to the regulations on the branch of a non–resident bank of the Republic of Kazakhstan provided for in paragraph 4 of Article 14 of this Law;

4) approve the regulations on the Council on the principles of Islamic finance, as well as appoint the head and members of the Council on the principles of Islamic finance (for the applicant-the bank);

5) approve the strategy for the development of Islamic banking operations for the next three years, which meets the requirements of the authorized body for the risk management and internal control system;

6) to form allocated assets for carrying out Islamic banking operations, the minimum amount of which is established by the authorized body;

7) ensure separate accounting of assets and liabilities related to Islamic banking operations from other assets and liabilities of the bank, a branch of a non–resident bank of the Republic of Kazakhstan.

16. The list of documents submitted by the bank, a branch of a non–resident bank of the Republic of Kazakhstan, which have a universal banking license, for obtaining an additional license to carry out Islamic banking and other operations:

1) the documents provided for in paragraph 14 of this Article;

2) a copy of the decision of the general meeting of shareholders of the bank, the governing body of the non–resident bank of the Republic of Kazakhstan on the intention to obtain a license to conduct Islamic banking and other operations;

3) a notarized copy of the charter, regulations on a branch of a non–resident bank of the Republic of Kazakhstan, subject to the requirements provided for in subparagraph 3) paragraph 15 of this article;

4) a copy of the regulations on the Council on the Principles of Islamic Finance, as well as information about the persons appointed to the positions of the head and members of the Council on the principles of Islamic Finance, confirming their compliance with the requirements set out in paragraphs 2 and 3 of Article 36 of this Law (for the applicant – the bank);

a copy of the regulations (guidelines) on the Council on the Principles of Islamic Finance or another similar body permanently operating in a non–resident bank of the Republic of Kazakhstan, as well as information on persons appointed to the positions of head and members of the Council on the Principles of Islamic Finance or another similar body permanently operating in a non–resident bank of the Republic of Kazakhstan (for the applicant -branch non–resident bank of the Republic of Kazakhstan);

5) a copy of the strategy for the development of Islamic banking operations for the next three years, which meets the requirements of the authorized body for the risk management and internal control system;

6) documents confirming the formation of allocated assets, the minimum amount of which is established by the authorized body.

17. An application for a banking license is considered by the authorized body within thirty working days from the date of submission by the applicant of documents and information that comply with the requirements of the legislation of the Republic of Kazakhstan.

An application for a banking license submitted as part of the voluntary reorganization of a microfinance organization in the form of conversion into a bank is considered by the authorized body within ten working days from the date of submission of documents and information that comply with the requirements of the legislation of the Republic of Kazakhstan.

An application for renewal of a banking license, including in the cases specified in paragraph 2 of Article 21 of this Law, is considered by the authorized body within fifteen working days from the date of submission by the applicant of documents and information that comply with the requirements of the legislation of the Republic of Kazakhstan, except for the cases provided for in Article 34 of the Law of the Republic of Kazakhstan "On Permits and Notifications".

When a basic banking license is reissued into a universal banking license, while the applicant must obtain a banking license for additional types of operations, the applicant must comply with the requirements set out in paragraphs 13 and 15 of this article. In this case, the application for renewal of the banking license is considered by the authorized body within thirty working days from the date of submission by the applicant of documents and information that comply with the requirements of the legislation of the Republic of Kazakhstan.

The authorized body has the right to suspend the period of consideration of the application provided for in parts one, two, three and four of this paragraph in any of the following cases:

identification of false information about the applicant and (or) its founders contained in the submitted documents and (or) information;

inconsistencies in the content of submitted documents and (or) information with the requirements of the legislation of the Republic of Kazakhstan;

the need to verify the accuracy of the data in the submitted documents and information.

The deadline for the applicant to eliminate the comments of the authorized body to the submitted documents and (or) information is no more than ten working days.

The period for consideration of the application is resumed after the applicant has eliminated the comments of the authorized body to the submitted documents and (or) information and the authorized body has completed verification of the accuracy of the data in the specified documents and (or) information, or if the applicant fails to submit corrected (clarified) documents and (or) information within the period established by part six of this paragraph.

18. When issuing or reissuing a banking license, the authorized body has the right to specify the names of permitted types of operations in accordance with the legislation of the Republic of Kazakhstan.

19. A fee is charged for issuing a banking license, the amount and payment procedure of which are determined by the tax legislation of the Republic of Kazakhstan.

20. A banking license is issued for an unlimited period.

The banking license is not transferable to third parties.

All types of banking and other operations, Islamic banking operations can be carried out only if there is a direct indication in the banking license for the right to carry them out.

21. A copy of the banking license must be placed in a place accessible to customers of the bank, a branch of a non–resident bank of the Republic of Kazakhstan, as well as on their Internet resources.

22. The legal status, procedure for establishing, licensing, regulating and terminating the activities of organizations engaged in certain types of banking operations, including the list of types of banking operations permitted for each of them, the grounds for issuing licenses to them for certain types of banking operations and possible restrictions on their activities, are established by this Law and other laws of the Republic of Kazakhstan.

The procedure for issuing licenses to organizations engaged in certain types of banking operations, qualification requirements for conducting banking operations by organizations engaged in certain types of banking operations, as well as a list of documents confirming compliance with these qualification requirements, are determined by regulatory legal acts of the authorized body and the National Bank of the Republic of Kazakhstan within their competence.

23. A license for certain types of banking operations is issued by the National Bank of the Republic of Kazakhstan:

1) to a legal entity, whose exclusive activity is the collection of banknotes, coins and valuables, to carry out a banking operation provided for in subparagraph 12) of the first paragraph of paragraph 2 of Article 22 of this Law;

2) a legal entity operating exclusively through exchange offices to carry out a banking transaction provided for in subparagraph 7) of the first paragraph of paragraph 2 of Article 22 of this Law with foreign currency in cash.

3) a payment organization of the first category to carry out activities related to the provision of payment services and banking operations provided for in paragraphs 1) (opening and maintaining bank accounts of legal entities) and 5) (transfer operations: following instructions from legal entities on payments and money transfers) of the first paragraph of paragraph 2 of Article 22 of this Law.

On Banks and banking activities in the Republic of Kazakhstan, the Law of the Republic of Kazakhstan dated January 16, 2026 No. 258-VIII SAM.

The article was amended and supplemented by law dated July 23, 2026, No. 352-VIII SAM.

President

Republic of Kazakhstan

Constitution Law Code Standard Decree Order Decision Resolution Lawyer Almaty Lawyer Legal service Legal advice Civil Criminal Administrative cases Disputes Defense Arbitration Law Company Kazakhstan Law Firm Court Cases Declaration Decree Order Resolution Decision Report Conclusion Statement Conclusion Convention Contract Memorandum Methodology Norms Note Rules Program Charter Charter Article Commentary Resolution Regulations Protocol Draft Program Rules Messages