Article 21. The procedure for the transfer (re-registration) of a bank with a basic banking license to a bank with a universal banking license of the Law on Banks and Banking Activities in the Republic Kazakhstan

Home / Laws / Article 21. The procedure for the transfer (re-registration) of a bank with a basic banking license to a bank with a universal banking license of the Law on Banks and Banking Activities in the Republic Kazakhstan

Article 21. The procedure for the transfer (re-registration) of a bank with a basic banking license to a bank with a universal banking license of the Law on Banks and Banking Activities in the Republic Kazakhstan

1. A bank with a basic banking license, the total volume of assets of which for three consecutive months exceeds, as of the reporting date of each such month, the maximum value established by the regulatory legal act of the authorized body, after the expiration of this period of time, is obliged to comply with prudential standards and limits, requirements for the risk management system, as well as accounting and reporting requirements, established by the authorized body for a bank with a universal banking license.

2. A bank with a basic banking license, whose total assets for nine consecutive months exceed the limit set by the regulatory legal act of the authorized body, is obliged, subject to prudential standards and limits in accordance with paragraph 1 of this article, to reissue the basic banking license into a universal banking license within twelve months by applying to the authorized body with an application for the renewal of the basic banking license into a universal banking license in accordance with the procedure, in accordance with the procedure established by Article 19 of this Law, or reduce the value of the total volume of its assets to an amount not exceeding the maximum value.

The Law of the Republic of Kazakhstan dated January 16, 2026 No. 258-VIII SAM.

President

Republic of Kazakhstan

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The Law of the Republic of Kazakhstan dated August 31, 1995 No. 2444. On banks and banking activities, with the introduction of the Law of the Republic of Kazakhstan dated January 16, 2026 No. 258-VIII, the SAM has lost its legal force.

Article 21. Additional requirements for the establishment of a bank with the participation of non-residents of the Republic of Kazakhstan of the Law on Banks and Banking Activities in the Republic of Kazakhstan

A non–resident legal entity of the Republic of Kazakhstan, which is the founder of the bank, in addition to the documents specified in Article 19 of this Law, must attach to the application for permission to open a bank a copy of the consent (permission) to own shares of a bank operating in the territory of the Republic of Kazakhstan, issued by the financial supervisory authority of the state of which the applicant is a resident, or a copy of the confirmation from the financial supervisory authority of the state of which the applicant is a resident, stating that such consent (permission) is not required.

Legal entity – a non-resident of the Republic of Kazakhstan, who is the founder of a bank established as part of the voluntary reorganization of a microfinance organization in the form of conversion into a bank, must attach to the application for permission for the voluntary reorganization of a microfinance organization in the form of conversion into a bank a copy of the consent (permission) to own shares of a bank operating in the territory of the Republic of Kazakhstan issued by the financial supervisory authority the State of which the applicant is a resident, or a copy of the confirmation from the financial supervisory authority of the State, of which the applicant is a resident, stating that such consent (permission) is not required.

The Law of the Republic of Kazakhstan dated August 31, 1995 No. 2444.

President

Republic of Kazakhstan