Law of the Republic of Kazakhstan on Banks and Banking Activity in the Republic of Kazakhstan 2001

This document provides the law of the Kazakhstan Republic on bank and banking activities. Articles of the law are presented in different chapters discussing the various aspects related to laws on banking. 

This document is organized into ten chapters that discuss:

• General provisions and the scope of the law;
• Process for creation of banks along with requirement needed for registration; also the additional requirements for:
  • Creation of subsidiary by non-resident banks of Republic of Kazakhstan,
  • Operation of banks with foreign participation,
  • Creation of branches and representatives offices of banks;
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• General requirements for operations conducted by banks;
• Regulation of banks' activity and protection of depositors' interests by highlighting the enforcement measures to be taken against the banks and their officials in case of default;
• Aspects of record keeping and storage of documents by the banks;
• Audit of banks and their affiliates;
• Conditions for voluntary reorganization of banks and the ground for refusal to issue authorization;
• Bank conservatorship;
• Procedures for bank liquidation.

The document concludes with final provisions of the law enlisting regulations for non-compliance, area of application and enactment of this law.