Article 2. Scope of this Law The Law on Payments and Payment Systems

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 1. This Law applies to individuals and legal entities that are subjects of relations arising in the course of payments and money transfers in the Republic of Kazakhstan, as well as in the course of the operation of payment systems and the payment services market.

2. Relations related to international payments and (or) money transfers carried out by banks, organizations engaged in certain types of banking operations, with banks (financial institutions) that are non–residents of the Republic of Kazakhstan are regulated by agreements between them and business practices used in banking practice, taking into account the requirements established by the laws of the Republic of Kazakhstan "On Counteraction legalization (laundering) of proceeds from crime and financing of terrorism" and "On Gambling". If actions on international payments and (or) money transfers are carried out on the territory of the Republic of Kazakhstan, then such relations are regulated by this Law, the specified agreements and business practices to the extent that they do not contradict the legislation of the Republic of Kazakhstan.

3. The provisions of this Law applicable to banks shall apply to branches of non-resident banks of the Republic of Kazakhstan established on the territory of the Republic of Kazakhstan.

4. Entities of the payment services market and other legal entities operating within the framework of the special regulatory regime introduced in accordance with the laws of the Republic of Kazakhstan "On the National Bank of the Republic of Kazakhstan", "On State Regulation, Control and Supervision of the Financial Market and Financial Organizations", the norms of this Law and regulatory legal acts of the National Bank of the Republic of Kazakhstan, adopted by in accordance with this Law, they are distributed within the limits stipulated by the conditions of the special regulatory regime.

The Law of the Republic of Kazakhstan dated July 26, 2016 No. 11-VI SAM.

This Law regulates public relations arising in the field of organization and functioning of payment systems, regulation of payment systems and supervision (oversight) of them, regulation of the payment services market and control over it, as well as the implementation of payments and (or) money transfers in the Republic of Kazakhstan.

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Republic of Kazakhstan

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