Article 6. Procedure for recognition of international rating agencies and foreign rating agencies of the Law of the Republic of Kazakhstan On Credit Rating Activities

     1. The recognition of international rating agencies and foreign rating agencies is carried out by the authorized body in accordance with the procedure provided for by this Law.

     2. The basis for the recognition of an international rating agency is the recognition of this rating agency by the financial regulators of five or more member countries of the Organization for Economic Cooperation and Development.

     3. The authorized body makes a decision on the recognition of an international rating agency by adding it to the list of credit rating agencies approved by the regulatory legal act of the authorized body.

     4. A foreign rating agency shall send an application for recognition to the authorized body with attached documents confirming its compliance with the criteria established by Article 7 of this Law.

     5. The authorized body makes a decision on the recognition of a foreign rating agency by posting an information message on the authorized body's Internet resource.

     6. The authorized body makes a decision on recognition or refusal of recognition of foreign rating agencies within six months from the date of receipt of the application.

     7. The authorized body refuses to recognize foreign rating agencies on the following grounds:

     1) failure to provide or provide incomplete information and/or provide false information on the compliance of a foreign rating agency with the established criteria and/or requirements of the legislation of the Republic of Kazakhstan on credit rating activities;

     2) non-compliance of a foreign rating agency, shareholders, management bodies, methodologies, employees or rating analysts with the established criteria and (or) requirements of the legislation of the Republic of Kazakhstan on credit rating activities.

     The refusal of recognition does not prevent a second appeal.

     8. In case of detection of non-compliance with the requirements established by this Law and regulatory legal acts, the authorized body shall revoke the recognition of previously recognized international rating agencies and foreign rating agencies.

     The authorized body decides to revoke the recognition of an international rating agency by excluding it from the list of rating agencies approved by the regulatory legal act of the authorized body.

     The authorized body makes a decision to revoke the recognition of a foreign rating agency by posting an information message on the authorized body's Internet resource.

     9. Chapters 2, 3, 4 and 5, with the exception of this Article and Articles 4, 5, 9 and 11, as well as paragraph 4 of Article 12, paragraph 9 of Article 23 and paragraph 1 of Article 24 of this Law, do not apply to recognized international rating agencies.

     Chapters 2, 3, 4 and 5, with the exception of this Article and Articles 4, 5, 7, 9 and 11, as well as paragraph 4 of Article 12, paragraph 9 of Article 23 and paragraph 1 of Article 24 of this Law, do not apply to recognized foreign rating agencies.

     10. It is prohibited for international rating agencies and foreign rating agencies to carry out credit rating activities in the territory of the Republic of Kazakhstan that have not passed the recognition procedure in accordance with this Law.

On credit rating activities, the Law of the Republic of Kazakhstan dated July 23, 2026 No. 351-VIII SAM.  

President    

Republic of Kazakhstan     

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