LAW OF THE REPUBLIC OF KAZAKHSTAN

ON PAYMENTS AND PAYMENT SYSTEMS

Chapter 1. GENERAL PROVISIONS

Article 1. Basic Concepts Used in This Law

The following basic concepts are used in this Law:

1) current account - a bank account opened by a bank or an organization carrying out certain types of banking operations on the basis of a bank account agreement;

2) information banking services - services provided by a payment service provider servicing the client's bank account to provide the client or a third party, upon instruction and with the consent of the client, with information about balances and/or money movements on their bank account, about payments and/or transfers of funds made through this account, and other information requested by the client or under a contract concluded between the client and the payment service provider;

3) money transfer system - a payment system through which money transfers are carried out using software of the operator of this system, with which a bank or an organization carrying out certain types of banking operations has concluded an agreement for making payments and/or transfers of funds;

4) transfer of funds - the sequential execution by a payment service provider of the client's instruction to transfer funds, related to making a payment or for other purposes;

5) sender of funds - a person on whose behalf a payment and/or transfer of funds is carried out;

6) sender's bank - a bank or an organization carrying out certain types of banking operations servicing the sender of funds;

7) standing order of the sender of funds - an instruction from the sender of funds to the sender's bank to make regular payments and/or transfers of funds in favor of one or several beneficiaries on his behalf in accordance with the conditions and details specified in this instruction;

7-1) bank - a participant of the International Financial Center "Astana" - a participant of the International Financial Center "Astana" holding a license from the Committee for Regulation of Financial Services of the International Financial Center "Astana" to provide services for accepting deposits and/or opening and maintaining bank accounts within the territory of the International Financial Center "Astana";

7-2) fraudulent payment transaction - a payment and/or transfer of funds (including an attempt to make such a payment and/or transfer of funds, a payment and/or transfer of funds in the process of execution), carried out as a result of actions by third parties aimed at stealing client funds by deception or abuse of trust;

7-3) data exchange center for fraudulent payment transactions (Anti-Fraud Center of the National Bank of the Republic of Kazakhstan) - a legal entity of the National Bank of the Republic of Kazakhstan that carries out coordination and adoption of measures aimed at identifying and preventing payment transactions with signs of fraud and other payment transactions, in the manner provided for by Article 25-1 of this Law (hereinafter referred to as the Anti-Fraud Center);

8) outsourcing - the transfer by a payment service provider to third parties on the basis of a paid services agreement of the performance of information technology functions necessary to ensure the provision of payment services by the payment service provider (outsourcing agreement);

8-1) open banking system - an information system that identifies clients of its participants, collects, stores, and processes their consents to the provision of electronic banking services by third-party payment service providers, as well as maintains a register of authorized payment service providers and exchanges information between them;

8-2) payment service provider authorized in the open banking system (hereinafter - authorized payment service provider) - a payment service provider that has passed accreditation for compliance with requirements for security regime, protection, and exchange of information in the open banking system;

9) interbank money transfer system - a payment system designed to carry out payments and/or transfers of funds between its participants using funds held in correspondent accounts opened at the National Bank of the Republic of Kazakhstan, by individual execution of each instruction of its participant with completion of money transfers within the operating day;

10) interbank clearing system - a payment system designed to carry out payments and/or transfers of funds between its participant banks and organizations carrying out certain types of banking operations through multilateral clearing of participants' instructions;

10-1) interbank mobile payment system - a payment system designed to carry out payments and/or transfers of funds between clients of its participants via mobile applications, including using barcodes, biometric authentication means, the operator of which is the National Bank of the Republic of Kazakhstan or a legal entity of the National Bank of the Republic of Kazakhstan;

10-2) interbank card payment system - a payment system designed to carry out interbank payments and/or transfers of funds, including processing and clearing of operations performed within the territory of the Republic of Kazakhstan using payment cards issued by second-tier banks - residents of the Republic of Kazakhstan and organizations carrying out certain types of banking operations, the operator of which is the National Bank of the Republic of Kazakhstan or a legal entity of the National Bank of the Republic of Kazakhstan;

11) bank account - a method of reflecting and accounting for the movement of client funds in a bank or an organization carrying out certain types of banking operations, as well as contractual relations between the client and the bank or organization carrying out certain types of banking operations regarding the client's banking service;

12) direct debit of a bank account - withdrawal by a bank or an organization carrying out certain types of banking operations of funds from the sender of funds and their transfer in favor of the beneficiary based on the sender's prior permission for such withdrawal;

13) initiator - a person presenting an instruction for execution;

14) beneficiary - a person in whose favor a payment and/or transfer of funds is carried out;

15) beneficiary's bank - a bank or an organization carrying out certain types of banking operations servicing the beneficiary;

16) value date - the date indicated by the initiator of the payment and/or transfer of funds in the payment document when the funds should be credited to the beneficiary's bank account;

17) registration - inclusion of a payment organization in the registry of payment organizations;

18) savings account - a bank account opened by a bank or an organization carrying out certain types of banking operations on the basis of a deposit agreement;

19) consolidated payment order - a payment order used to make a payment and/or transfer of funds from one sender of funds to several beneficiaries serviced by one bank, or from several senders of funds serviced by one bank to one beneficiary;

20) sender - the sender of funds or the beneficiary who gives the instruction;

21) assessment of the functioning of a systemic significant or significant payment system - a set of measures carried out by the operator of the payment system, the operational center of the payment system, the National Bank of the Republic of Kazakhstan, or international financial organizations to determine the compliance of this payment system with international standards;

22) monitoring of systemic significant payment systems - the process of tracking and observing systemic significant payment systems carried out by the National Bank of the Republic of Kazakhstan for the purpose of managing, minimizing, and forecasting risks arising in the course of making payments and/or transfers of funds, within the framework of oversight of payment systems;

23) systemic significant payment system - a payment system whose uninterrupted operation contributes to the stable functioning of the financial market of the Republic of Kazakhstan, and whose stoppage (failures) can lead to the emergence of risks in the financial market of the Republic of Kazakhstan;

24) collection order - a payment document used to withdraw funds from the sender's bank account without his consent;

25) client - an individual or legal entity, a branch or representative office of a legal entity receiving a payment service;

26) clearing - the process of collecting, reconciling, and offsetting mutual monetary claims and obligations, as well as determining the net positions of participants in this process;

27) correspondent account - a bank account of a bank or an organization carrying out certain types of banking operations, opened on the basis of a correspondent account agreement to perform operations of the bank or organization carrying out certain types of banking operations and its (their) clients;

28) payment service provider - a subject of the payment services market providing a payment service;

29) third-party payment service provider - a payment service provider not servicing the client's bank account and providing the client with electronic banking services through its own remote access systems;

30) significant payment service provider - a payment service provider meeting the criteria established by this Law;

31) payment services market - a set of relations related to the provision and use of payment services, as well as the issuance and use of payment instruments;

32) state control and supervision over the payment services market (control and supervision over the payment services market) - the activity of the National Bank of the Republic of Kazakhstan and the authorized body for regulation, control, and supervision of the financial market and financial organizations, aimed at exercising within their competence control over the activities of payment service providers for compliance with the requirements of the legislation of the Republic of Kazakhstan on payments and payment systems;

33) payment service - a service provided by a payment service provider to a client in accordance with Article 12 of this Law;

34) remote access system - a set of telecommunications means, digital technologies, software, and equipment ensuring communication between the client and the payment service provider for obtaining electronic banking services;

35) payment sub-agent - a legal entity or individual entrepreneur who has concluded an agency agreement with a payment agent for the provision of payment services;

35-1) instant payment system - a payment system designed for round-the-clock making of payments and/or transfers of funds between its participants, using funds held in the National Bank of the Republic of Kazakhstan, ensuring immediate crediting of funds in favor of the beneficiary of the payment and/or transfer of funds;

35-2) mobile payments - cashless payments initiated electronically in favor of an individual registered as an individual entrepreneur, a person engaged in private practice, or a legal entity for payment for the purchase of goods, performance of works, or provision of services, received via a mobile application or other equipment (device) intended for receiving payments using a barcode;

35-3) impeccable business reputation - the presence of facts confirming professionalism and integrity, including the absence of facts of unlawful actions (inaction) by a person that led to insolvency resulting in forced liquidation of a financial organization, or to a bank being classified as insolvent, the absence of an unexpunged or unpardoned conviction, including the absence of a court decision taking effect applying criminal punishment in the form of deprivation of the right to hold a managerial position in a financial organization, a banking and/or insurance holding, and to be a major participant (major shareholder) of a financial organization for life, as well as the absence of relations with third parties (control and influence of third parties), actions of which contributed to the legalization (money laundering) of income obtained criminally, terrorism financing, and financing of the proliferation of weapons of mass destruction, based on information from the authorized body for financial monitoring;

36) instruction - an order of the initiator of the payment and/or transfer of funds to the payment service provider to carry out a payment and/or transfer of funds, expressed in the form of an order, demand, or as the client's consent when using an electronic payment instrument or remote access system;

37) operating day - a period of time during which the operator of the payment system or the payment service provider accepts and processes instructions, orders to suspend the execution of instructions, or recall such instructions;

38) other payment system - a payment system that is not a systemic significant or significant payment system;

38-1) Identification Data Exchange Center - an information system providing interaction with financial and payment organizations for the exchange of client data from available sources for conducting identification procedures, including biometric authentication of clients;

39) identification means - an electronic digital signature of the sender of the instruction or a unique identifier representing a combination of letters, numbers, or symbols, or another identifier (personal password, one-time identification code, biometric identification means) established by the payment service provider for identifying the client and agreed upon with him;

40) net position - the value of the difference between the sum of instructions of all participants of the payment system directed in favor of one participant of the payment system and the sum of instructions of this participant of the payment system directed in favor of the other participants of the payment system, in cases where settlements in the payment system are carried out through multilateral clearing of participants' instructions of the payment system. With a negative value of the net position, the participant has a debit net position; with a positive value - a credit net position;

41) payment - fulfillment of a monetary obligation using cash and/or payment instruments;

42) payment agent - a legal entity or individual entrepreneur who has concluded an agency agreement with a bank or an organization carrying out certain types of banking operations, or a payment organization, for the provision of payment services;

43) participants of a payment and/or transfer of funds - individuals and legal entities, branches and representative offices of legal entities having rights and/or obligations regarding the payment and/or transfer of funds;

44) oversight of payment systems - the activity of the National Bank of the Republic of Kazakhstan carried out to ensure effective, safe, and uninterrupted functioning of payment systems;

45) payment system - a set of relations ensuring the implementation of payments and/or transfers of funds through the interaction of the operator of the payment system and/or participants of the payment system by applying procedures, infrastructure, and rules established by the operator of this payment system;

46) participant of a payment system - a bank or an organization carrying out certain types of banking operations that have concluded an agreement with the operator of the payment system on participation in the payment system, and in cases and in the manner determined by the National Bank of the Republic of Kazakhstan, a payment organization that has concluded an agreement with the operator of the payment system on participation in the payment system;

47) self-assessment of the functioning of a payment system - a set of measures carried out by the operator of the payment system, the operational center of the payment system to determine the compliance of this payment system with international standards;

48) infrastructure of a payment system - a set of objects, resources, and technologies ensuring the functioning of the payment system;

49) operator of a payment system - a legal entity carrying out activities to ensure the functioning of a payment system and performing the duties established by this Law related to such activity;

50) operational center of a payment system - a legal entity to which the operator of the payment system has entrusted the performance of operational and technological functions on the basis of an agreement concluded between this legal entity and the operator of the payment system, or by delegating powers to it in case if the operator of the payment system exercises functions regarding regulation of its activity and adoption of decisions on changing the legal status of the said organization;

51) payment card - an electronic payment instrument containing information allowing its holder to make payments and/or transfers of funds or obtain cash, or to carry out currency exchange and other operations defined by the issuer of the payment card and on its terms, via electronic terminals or other communication channels;

52) issuance of a payment card - a payment service involving the issuance of a payment card to the holder of the payment card;

53) issuer of a payment card - a bank or the National Postal Operator carrying out the issuance of payment cards;

54) payment document - a document drawn up on paper or formed in electronic form, on the basis of or with the help of which a payment and/or transfer of funds is carried out;

55) payment instrument - a payment document or an electronic payment instrument on the basis of or using which a payment and/or transfer of funds is carried out;

56) finality of a payment and/or transfer of funds - the point in time when the obligation of the participant of the payment and/or transfer of funds is considered fulfilled;

57) payment order - a payment document used in making payments and/or transfers of funds between a client and his servicing bank or organization carrying out certain types of banking operations, and/or servicing the client's bank account;

58) payment request - a payment document presented by the beneficiary or the beneficiary's bank to the sender's bank for payment of the amount of funds specified in the payment document from the sender's bank account;

59) payment order - a payment document providing for the instruction of the sender of funds to his bank or organization carrying out certain types of banking operations to transfer a certain amount of funds specified in this payment document in favor of the beneficiary;

60) registry of payment organizations - a single list of payment organizations that have undergone registration;

61) payment organization - a legal entity of the Republic of Kazakhstan created in the organizational and legal form of a limited liability company, which according to this Law is entitled to carry out activities for the provision of payment services;

62) payment notice - a payment document used in making payments and/or transfers of funds without opening a bank account and containing an instruction from the sender of funds to his servicing bank or organization carrying out certain types of banking operations to transfer funds in favor of the beneficiary in the amount specified in the payment document;

62-1) national payment system - a set of payment systems the operator of which is the National Bank of the Republic of Kazakhstan or a legal entity of the National Bank of the Republic of Kazakhstan, for making payments and transfers of funds in tenge between their participants;

62-2) national digital financial infrastructure - a set of the national payment system, the digital tenge platform, the open banking system, the Anti-Fraud Center of the National Bank of the Republic of Kazakhstan, the Identification Data Exchange Center, which are its components, and accompanying digital systems and technologies ensuring its functioning, as well as other components determined by the National Bank of the Republic of Kazakhstan;

62-3) national center for management of the national digital financial infrastructure (hereinafter - national interbank center) - a legal entity of the National Bank of the Republic of Kazakhstan carrying out operational, technological, and other functions defined by the National Bank of the Republic of Kazakhstan to ensure the functioning of the national digital financial infrastructure;

62-4) digital tenge - a digital form of the national currency of the Republic of Kazakhstan and a legal tender;

62-5) digital tenge programming technology (hereinafter - digital tenge smart contract) - establishment of rules, conditions, and criteria for circulation, use, and redemption of the digital tenge;

62-6) marking of digital tenge - assignment of unique alphanumeric or graphic signs to the digital tenge for its further identification;

62-7) digital tenge platform - a set of software and technical means and relations ensuring the implementation of payments and/or transfers of funds and other types of operations using the digital tenge, provided for by this Law and normative legal acts of the National Bank of the Republic of Kazakhstan, through the interaction of the issuer (operator), participants of the digital tenge platform, and users of the digital tenge platform;

62-8) participant of the digital tenge platform - a payment service provider or another legal entity servicing user digital accounts of the digital tenge platform;

62-9) user of the digital tenge platform - an individual, including an individual entrepreneur, or a legal entity, having access to the digital tenge platform through a participant of the digital tenge platform servicing a digital account for the purpose of conducting transactions with digital tenge; 62-10) operator of the digital tenge platform - the National Bank of the Republic of Kazakhstan; 62-11) digital account - a method of accounting and storing digital tenge on the digital tenge platform, ensuring the management of digital tenge by their owners;
63) check - a payment document containing a written order from the drawer to the servicing bank or organization carrying out certain types of banking operations to pay the amount of money specified in this order to the payee;
64) drawer - a person who issued a check;
65) payee - a person in whose favor a check was issued, including the drawer, if the check was issued by him to himself;
66) foreign payment system - a payment system whose operator is a non-resident of the Republic of Kazakhstan;
67) electronic money - unconditional and irrevocable monetary obligations of the issuer of electronic money, stored in electronic form and accepted as a means of payment in the electronic money system by other participants of the system;
68) electronic money system - a set of software and technical means, documentation, and organizational and technical measures ensuring the implementation of payments and other operations using electronic money through the interaction of the operator of the electronic money system with the issuer of electronic money and/or owners of electronic money;
69) agent of the electronic money system (hereinafter - agent) - a bank, organization carrying out certain types of banking operations, the National Post Operator, and a payment agent carrying out activities to acquire electronic money from the issuer and owners - individuals for their subsequent sale to individuals on the basis of a contract concluded with the issuer of electronic money or the operator of the electronic money system;
70) operator of the electronic money system - a bank, organization carrying out certain types of banking operations, or a payment organization ensuring the functioning of the electronic money system, including the collection, processing, and transmission of information formed during operations using electronic money, as well as determining the rules for the functioning of the electronic money system in accordance with the contract concluded with the issuer(s) of electronic money;
70-1) electronic wallet of electronic money (hereinafter - electronic wallet) - a method of accounting and storing electronic money, ensuring their management;
71) redemption of electronic money - a payment service providing for the exchange by the issuer of electronic money of the electronic money issued by him, presented by the owner of electronic money or subject to exchange without their presentation by the owner in cases provided for by the laws of the Republic of Kazakhstan, for an amount of money equal to their nominal value;
72) use of electronic money - transfer of electronic money by their owner to another participant of the electronic money system for the purpose of making a payment under civil law transactions and/or other operations related to the transfer of ownership rights to electronic money;
73) issuance of electronic money - a payment service providing for the issuance of electronic money by the issuer of electronic money to an individual or an agent in exchange for an amount of money equal to their nominal value;
74) issuer of electronic money - a payment service provider having the right under this Law to issue and redeem electronic money;

75) electronic banking services - services related to the client's access to his bank account via remote access systems to receive payment services and information banking services;
76) electronic terminal - an electromechanical device intended for making payments and/or money transfers or operations for receiving and/or issuing cash money or for carrying out exchange operations with foreign currency, or for carrying out other types of operations, as well as for forming corresponding confirming documents;
77) electronic payment instrument - a payment card or other electronic carrier containing information that allows the sender of money, having the authority to make a payment and/or money transfer, to initiate the implementation of a payment and/or money transfer, as well as to carry out other operations provided for by the contract between him and the issuer of the electronic payment instrument;
78) holder of the electronic payment instrument - an individual using or owning the electronic payment instrument in accordance with the terms of the contract concluded with the issuer of the electronic payment instrument;
79) issuer of the electronic payment instrument - a legal entity carrying out the issuance of the electronic payment instrument;
80) escrow account - a current or savings account opened by the client in the name of a third party with a restriction on the right of this person to make outgoing transactions on the bank account until the occurrence or fulfillment of conditions determined by the client.

Article 2. Scope of Application of this Law

The action of this Law extends to individuals and legal entities who are subjects of relations arising in the course of making payments and money transfers in the Republic of Kazakhstan, as well as in the process of functioning of payment systems and the payment services market.
Relations related to international payments and/or money transfers carried out by banks, organizations carrying out certain types of banking operations, with banks (financial institutions) - non-residents of the Republic of Kazakhstan, are regulated by contracts between them and business customs applied in banking practice, taking into account the requirements established by the laws of the Republic of Kazakhstan "On Countering the Legalization (Money Laundering) of Proceeds Obtained by Criminal Means, Terrorism Financing and Financing of Proliferation of Weapons of Mass Destruction" and "On Gambling Business". 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 contracts and business customs in the part not contradicting the legislation of the Republic of Kazakhstan.
The provisions of this Law applied to banks extend to branches of banks-non-residents of the Republic of Kazakhstan created on the territory of the Republic of Kazakhstan.
To subjects of the payment services market and other legal entities carrying out activities 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 normative legal acts of the National Bank of the Republic of Kazakhstan adopted in accordance with this Law apply within the limits provided for by the conditions of the special regulatory regime.

Article 3. Legislation of the Republic of Kazakhstan on Payments and Payment Systems

The legislation of the Republic of Kazakhstan on payments and payment systems is based on the Constitution of the Republic of Kazakhstan, consists of this Law and other normative legal acts of the Republic of Kazakhstan.
If an international treaty ratified by the Republic of Kazakhstan establishes rules other than those provided for by this Law, the rules of the international treaty shall apply.

Article 3-1. Purpose, Tasks and Principles of this Law

The purpose of this Law is to regulate public relations arising in the field of organization and functioning of payment systems, regulation of payment systems and oversight thereof, regulation of the payment services market, control and oversight thereof, as well as the implementation of payments and/or money transfers in the Republic of Kazakhstan.
The tasks of this Law are:
1) regulation of the payment services market, activities of payment service providers and payment system operators related to the implementation of payments and money transfers, provision of payment services;
2) development and establishment of requirements for the activities of payment service providers, payment system operators for participation in the payment services market, for the procedure for interaction of subjects of the payment services market and provision of payment services;
3) implementation of control and oversight over the activities of payment service providers, payment system operators within their competence;
4) assistance in ensuring the stability of the financial system and the state economy, organizational and procedural measures aimed at preventing fraud, legalization (money laundering) of proceeds obtained by criminal means, terrorism financing and financing of proliferation of weapons of mass destruction.
Regulation of relations related to the functioning of payment systems, regulation of the payment services market, implementation of payments and money transfers is based on the principles:
1) legality;
2) ensuring equality of all before the law, respect for the rights and freedoms of subjects of the payment market and protection of the interests of consumers of payment services;
3) ensuring economic security and independence of the national payment market.

Article 4. Powers of the National Bank of the Republic of Kazakhstan in the Field of Payments and Payment Systems

The National Bank of the Republic of Kazakhstan ensures the organization and functioning of payment systems, carries out regulation of payment systems and oversight thereof, regulation of the payment services market, control and oversight thereof, as well as regulation of payments and/or money transfers in accordance with this Law, other laws of the Republic of Kazakhstan.
The sphere of payment systems, the payment services market, payments and/or money transfers is part of the sphere of the financial market and financial organizations and financial legislation of the Republic of Kazakhstan.
In the field of payments and payment systems, the National Bank of the Republic of Kazakhstan carries out other functions and implements other powers provided for by this Law, other laws of the Republic of Kazakhstan and acts of the President of the Republic of Kazakhstan.
The list of sub-legal normative legal acts adopted by the National Bank of the Republic of Kazakhstan in accordance with the laws of the Republic of Kazakhstan on issues referred to its competence is determined in the Regulation on the National Bank of the Republic of Kazakhstan.

Article 4-1. Powers of the Authorized Body for Regulation, Control and Supervision of the Financial Market and Financial Organizations in the Field of Payments and Payment Systems
The Authorized Body for Regulation, Control and Supervision of the Financial Market and Financial Organizations, in order to protect the interests of consumers of financial services, carries out within its competence control and oversight over compliance by banks, organizations carrying out certain types of banking operations, with the requirements of the legislation of the Republic of Kazakhstan on payments and payment systems.

Chapter 1-1. NATIONAL DIGITAL FINANCIAL INFRASTRUCTURE

Article 4-2. Main Tasks, Principles of Functioning and Components of the National Digital Financial Infrastructure

Main tasks of the national digital financial infrastructure:
1) ensuring interaction between banks and organizations carrying out certain types of banking operations in the conduct of interbank payments and money transfers, mobile payments via the national payment system, transactions using digital tenge;
2) conducting biometric authentication of clients of financial and payment organizations;
3) assisting in combating fraud by exchanging data between participants on payment transactions with signs of fraud and other payment transactions;
4) processing on the territory of the Republic of Kazakhstan interbank payments and/or money transfers using payment cards issued by second-level banks and organizations carrying out certain types of banking operations;
5) ensuring a secure environment for information exchange between payment service providers via open application programming interfaces;
6) collection, storage and processing of consent of clients of participants of the financial market and payment services market to provide data to third-party payment service providers.
The national digital financial infrastructure functions on the principles:
1) equal and open access of participants to components of the national digital financial infrastructure;
2) ensuring security in the interaction of participants of the national digital financial infrastructure;
3) ensuring protection of the rights of consumers of payment services;
4) promoting the development of innovations and stimulating competition in the financial market and payment services market.
Components of the national digital financial infrastructure are:
1) national payment system;
2) open banking system;
3) Anti-Fraud Center of the National Bank of the Republic of Kazakhstan;
4) Identity Data Exchange Center;
5) digital tenge platform;
6) other components determined by the National Bank of the Republic of Kazakhstan.
The procedure for the functioning and provision of services of the Identity Data Exchange Center is established by a normative legal act of the National Bank of the Republic of Kazakhstan regulating the provision of electronic banking services.
Second-level banks providing electronic banking services via mobile applications and/or remote access systems are obliged to use components of the national digital financial infrastructure to provide customers with services for interbank mobile payments and money transfers, transactions using digital tenge, remote biometric authentication of clients, processing of client consents for the provision of payment services by third-party payment service providers.

Article 4-3. Operator of the National Digital Financial Infrastructure

The operator of the national digital financial infrastructure is the National Bank of the Republic of Kazakhstan.
In order to ensure the functioning of the national digital financial infrastructure, the National Bank of the Republic of Kazakhstan:
1) determines the components of the national digital financial infrastructure;
2) approves the rules, features of functioning of components of the national digital financial infrastructure and their management;
3) determines the conditions for participation and interaction of participants with components of the national digital financial infrastructure, as well as ensures their compliance by participants of the national digital financial infrastructure;
4) implements cybersecurity measures with respect to components of the national digital financial infrastructure;
5) organizes information exchange between participants within the framework of components of the national digital financial infrastructure;
6) concludes contracts with participants of the national digital financial infrastructure;
7) carries out other functions provided for by normative legal acts of the National Bank of the Republic of Kazakhstan and contracts concluded with participants of the national digital financial infrastructure.
The National Bank of the Republic of Kazakhstan may delegate the performance of functions of the operator of individual components of the national digital financial infrastructure to the national interbank center.

Article 4-4. National Payment System

The national payment system consists of an interbank money transfer system, an interbank clearing system, and other payment systems whose operator is the National Bank of the Republic of Kazakhstan or a legal entity of the National Bank of the Republic of Kazakhstan.
The national payment system is aimed at:
1) implementation of payments and/or money transfers for operations of the state's monetary policy;
2) implementation of payments and/or money transfers between financial organizations using money located on correspondent accounts opened in the National Bank of the Republic of Kazakhstan;
3) ensuring the completion of settlements based on the results of clearing in payment systems functioning on the territory of the Republic of Kazakhstan, as determined by the rules of these payment systems;
4) implementation on the territory of the Republic of Kazakhstan interbank payments and/or money transfers, including processing and clearing, using payment cards issued by second-level banks - residents of the Republic of Kazakhstan and organizations carrying out certain types of banking operations, via the interbank payment card system;

5) implementation of instant mobile payments and/or money transfers between clients of participants of the interbank mobile payment system.
3. The conditions for participation of payment service providers in the national payment system are determined by the National Bank of the Republic of Kazakhstan.

Chapter 2. PAYMENT SYSTEMS

Article 5. Basic Requirements for Payment Systems

The procedure for the organization and functioning of a payment system is determined by its rules established by the operator of this payment system.
Rules of a payment system must contain:
1) procedures for the functioning of the payment system, including the procedure for making money transfers in the payment system, application of payment message formats, schedule of work of the payment system, and risk management system in the payment system;
2) description of services provided by the operator of the payment system, and operations carried out in the payment system;
3) conditions for participation in the payment system;
4) procedure for interaction of participants of the payment system with its operator;
5) procedures for revocation of instructions for payment and/or money transfer;
6) procedure for resolving insolvency of participants of the payment system;
7) procedure for compliance with cybersecurity measures;
8) measures taken against a participant of the payment system for violation of the rules of the payment system;
9) measures to ensure and implement in the payment system organizational and procedural measures aimed at preventing fraud, legalization (money laundering) of proceeds obtained by criminal means, terrorism financing and financing of proliferation of weapons of mass destruction.
It is prohibited to include in the rules of a payment system norms restricting the participation of participants of this payment system in other payment systems (including norms in the form of a condition of exclusive participation), as well as servicing other payment systems by persons who service the infrastructure of this payment system (except for persons who are employees of the operator of this payment system).
3-1. It is prohibited for participants of the interbank mobile payment system to establish tariffs for conducting transactions in this system for their clients exceeding the tariffs for similar payment services provided by these participants in other payment systems ensuring payments and/or money transfers using electronic payment instruments, mobile applications and/or barcodes.
Rules of a payment system, changes and additions to these rules, information on tariffs (cost of services) of the operator of the payment system and all changes to these tariffs (cost of services) must be published on the internet resource of the operator of the payment system within fifteen working days after their approval by the operator of the payment system.
Changes to tariffs (cost of services) of the operator of the payment system are made by him on the basis of financial calculations justifying such changes.
4-1. Rules of functioning, tariffs for services of the interbank mobile payment system, as well as the procedure for their coordination with participants of the system, are approved by the National Bank of the Republic of Kazakhstan.
The operator of a payment system, except for the National Bank of the Republic of Kazakhstan, within ten calendar days from the date of commencement of functioning of the payment system on the territory of the Republic of Kazakhstan, informs the National Bank of the Republic of Kazakhstan about...

Kazakhstan on the creation of its own payment system on the territory of the Republic of Kazakhstan or the commencement of the functioning of an foreign payment system on the territory of the Republic of Kazakhstan with the submission of the following documents:

1) information on the name, postal address, and location of the payment system operator;
1-1) information containing the name of the payment system;
2) information on the head (members) of the executive body;
3) information on the domain name of the internet resource of the payment system operator, on which the documents provided for in paragraph 4 of this Article are posted;
4) information on the founders (shareholders) of the payment system operator holding a share (shares) of more than ten percent in the capital of the payment system operator;
5) information containing the date of commencement of the functioning of the payment system on the territory of the Republic of Kazakhstan. The date of commencement of functioning is understood as the date of entry into force of the contract concluded by the payment system operator with the first participant of the payment system.

In the event of participation of a bank or an organization carrying out certain types of banking operations in a payment system, including a foreign payment system, such bank (such organization) informs the National Bank of the Republic of Kazakhstan in writing about such participation within ten calendar days from the date of conclusion of the contract with the payment system operator for participation in the payment system, submitting copies of contracts on the basis of which participation in the payment system, including a foreign payment system, is carried out, as well as information containing the name of the payment system, the name and postal address of the payment system operator.

In the contract(s) on the basis of which participation in a foreign payment system is carried out, there must be provided for the procedure for obtaining by banks or organizations carrying out certain types of banking operations information on the beneficiary and sender of payments and/or money transfers, except for payments and/or money transfers using payment cards.

Deleted in accordance with the Law of the Republic of Kazakhstan dated 03.07.20 No. 359-VI.
Money transfers in payment systems are carried out as a result of clearing or by individual execution of each instruction of the initiator.
Money transfers as a result of clearing occur after the completion of the process of offsetting mutual monetary claims and obligations of participants of the payment system.
Money transfers as a result of clearing in the interbank clearing system are carried out using the funds of its participants in the interbank money transfer system.
Money transfers by individual execution of each instruction of the initiator are carried out independently of his rights and obligations arising from other instructions.
The procedure for resolving the insolvency of participants of payment systems should determine methods for attracting funds to complete payments and/or money transfers.

The main requirements for the procedure for resolving the insolvency of participants of payment systems shall be published on the internet resource of the payment system operator within fifteen working days after their approval by the payment system operator.

Rules of the payment system, amendments and additions to these rules, tariffs (cost of services) of the payment system operator and all changes to these tariffs (cost of services) are applied by the operator and participants of the payment system no earlier than the date of their publication on the internet resource of the payment system operator.
Requirements for the procedure and conditions for providing interbank payment services to customers by participants of payment systems ensuring interbank payments and/or money transfers using electronic payment instruments, mobile applications and/or barcodes, whose operator is the National Bank of the Republic of Kazakhstan or a legal entity of the National Bank of the Republic of Kazakhstan, are determined by the National Bank of the Republic of Kazakhstan.

Article 6. Types of payment systems, criteria and methods for determining their significance

Payment systems, including foreign payment systems, are divided into the following types:
1) systemically important payment system;
2) important payment system;
3) other payment system.
The National Bank of the Republic of Kazakhstan refers a payment system to a systemically important payment system if it meets the following criteria in aggregate:
1) payments and/or money transfers on monetary obligations of participants of the securities market of the Republic of Kazakhstan and/or the currency market of the Republic of Kazakhstan are carried out through this payment system;
2) payments and/or money transfers are carried out through this payment system for the purpose of conducting state monetary policy by the National Bank of the Republic of Kazakhstan.
The National Bank of the Republic of Kazakhstan refers a payment system to an important payment system if it meets any of the following criteria, except for systems referred to as systemically important payment systems:
1) payments and/or money transfers in the national currency on the territory of the Republic of Kazakhstan are carried out through this payment system during the year in an amount not less than the indicator established by the National Bank of the Republic of Kazakhstan;
2) payments and/or money transfers in foreign currency on the territory of the Republic of Kazakhstan are carried out through this payment system during the year in an amount not less than the indicator established by the National Bank of the Republic of Kazakhstan;
3) international payments and/or money transfers are carried out through this payment system during the year in an amount not less than the indicator established by the National Bank of the Republic of Kazakhstan;
4) payments and/or money transfers are carried out through this payment system during the year in an amount not less than the indicator established for money transfer systems by the National Bank of the Republic of Kazakhstan;
5) interbank payments for settlements with payment cards are carried out through this payment system during the year in an amount not less than the indicator established by the National Bank of the Republic of Kazakhstan;
6) the share of the number of payment cards issued within this payment system relative to the total number of payment cards in circulation at the beginning of the calendar year, as well as the total volume of payments and/or money transfers carried out through this payment system during the calendar year using payment cards issued in such payment system, is not less than the indicators established by the National Bank of the Republic of Kazakhstan.
The National Bank of the Republic of Kazakhstan refers a payment system to a systemically important, important, or other payment system on the basis of one of the following methods:
1) independently based on the results of an analysis of the functioning of payment systems conducted at the end of the calendar year;
2) on the basis of a written request from the payment system operator accompanied by documents confirming that the payment system meets the established significance criteria.
In the event of referring a payment system to a systemically important, important, or other payment system, the National Bank of the Republic of Kazakhstan within five working days:
1) includes this payment system as a systemically important, important, or other payment system in the registry of payment systems;
2) publishes this information on its internet resource;
3) notifies the payment system operator in writing, except for the National Bank of the Republic of Kazakhstan, of the referral of the payment system to a systemically important, important, or other payment system.
A payment system is referred to as a systemically important, important, or other payment system from the date of entry of information into the registry of payment systems by the National Bank of the Republic of Kazakhstan.

Article 7. Completeness (finality) of payments and/or money transfers in payment systems

A payment and/or money transfer is considered completed (final) in a payment system after the funds are credited to the participant of the payment system in whose favor the payment and/or money transfer was made.
The operator of a systemically important payment system guarantees the completeness (finality) of a payment and/or money transfer in the payment system in real-time mode, which implies processing and executing instructions immediately upon their receipt in the payment system, or by the end of the current business day.
Payments and/or money transfers sent to a payment system by its participant before receiving a copy of a court decision on applying a debt restructuring procedure, rehabilitation procedure, declaring the debtor bankrupt and liquidating with the initiation of bankruptcy proceedings, issued with respect to the client, are irrevocable and final, subject to execution and completion.

Article 8. Operator and participants of a payment system

A legal entity that is not an operator of a payment system has no right to use the words "payment system" and derivatives thereof in its name, implying that it carries out activities to ensure the functioning of a payment system.

Combining the functions of an operator of payment systems with the function of an electronic money operator is permitted.

The operator of a payment system:
1) establishes the rules of the payment system and monitors compliance with them by participants of payment systems;
2) processes and issues payment and informational messages of participants (to participants) of the payment system, individual execution of instructions or clearing;
3) concludes a contract with a participant of the payment system regarding participation in the payment system;
4) determines the risk management system in the payment system;
5) ensures the functioning of the infrastructure of the payment system;
6) ensures compliance with cybersecurity measures and business continuity;
7) ensures equal and open access of participants of the payment system to the services provided to them;
8) approves internal documents on the management of the activity of the payment system operator;
9) performs other duties based on contracts concluded with participants of the payment system.
The operator of a payment system is allowed to entrust the operational and technological functions to the operational center of the payment system.

Operational functions include functions provided for in sub-paragraph 2) of paragraph 2 of this Article. Technological functions include functions provided for in sub-paragraphs 5) and 6) of paragraph 2 of this Article.

The operator of a foreign payment system ensures the implementation of money transfers between participants of the payment system in the national currency of the Republic of Kazakhstan through an interbank money transfer system or banks or organizations carrying out certain types of banking operations.
The operator of a systemically important payment system or an important payment system, except for the National Bank of the Republic of Kazakhstan, in the process of functioning of the payment system provides information to the National Bank of the Republic of Kazakhstan:
1) about approved changes and additions to the rules of the payment system no later than fifteen working days before the date of introduction of these changes and additions into effect;
2) about changes in tariffs (cost of services) of the payment system operator no later than fifteen working days before the date of introduction of these changes into effect.

Article 9. Requirements for operators of systemically important or important payment systems

The operator of a systemically important or important payment system determines in internal documents:
1) powers and regulations of the governing body;
2) powers of the highest, executive bodies of management;
3) risk management system in the payment system;
4) procedure for pre-trial resolution of disputes with participants of the payment system and third parties providing services for the functioning of the payment system;
5) criteria for ensuring the efficiency of the operation of the payment system, according to which the satisfaction of the needs of participants of the payment system with the quality of services provided is evaluated.
Documents specified in paragraph 1 of this Article are published by the operator of a systemically important or important payment system on its internet resource within fifteen working days after their approval.
The risk management system in the payment system determines procedures:
1) identification, measurement, monitoring and management of risks;
2) ensuring business continuity of the payment system and contains a recovery plan for the activity of the payment system operator.
The operator or operational center of a systemically important or important payment system provides information and reports to the National Bank of the Republic of Kazakhstan in forms and order determined by the normative legal act of the National Bank of the Republic of Kazakhstan, including information on volumes of payments made by significant clients of a participant of the payment system.
A client of a participant of a payment system is referred to as a significant client of a participant of a systemically important or important payment system if its share in the total volume of payments and/or money transfers made through this payment system over the year constitutes ten or more than ten percent.
The operator or operational center of a systemically important or important payment system:
1) conducts an analysis of the needs of participants of payment systems regarding their satisfaction with the quality of provided services;
2) ensures the functioning of a feedback mechanism with participants of payment systems.
The operator or operational center of a systemically important or important payment system once a year no later than the first quarter following the reporting period publishes the results of the conducted analysis of the efficiency of functioning of the payment system regarding satisfaction of participants with the quality of provided services on its internet resource taking into account the results of consideration of appeals and requests received during the reporting year via the feedback mechanism.
The operator of a systemically important or important payment system conducts a self-assessment of the functioning of the payment system for its compliance with international standards:
1) no less than once every three years for systemically important payment systems;
2) no less than once every five years for important payment systems.

In the event that operational and technological functions are entrusted to the operational center of a systemically important or important payment system, the self-assessment of the functioning of payment systems is conducted jointly by the operator and the operational center of the systemically important or important payment system.

The results of the conducted self-assessment of the functioning of payment systems are submitted by the operator of a systemically important or important payment system to the National Bank of the Republic of Kazakhstan within fifteen working days after its completion, except in cases where the operator of the payment system is the National Bank of the Republic of Kazakhstan.

The main results of the conducted self-assessment of the functioning of the payment system reflecting information on the compliance of the payment system with international standards are subject to publication by the operator of a systemically important or important payment system within fifteen working days after its completion on its internet resource.

Chapter 3. REGULATION OF THE PAYMENT SERVICES MARKET

Article 10. Providers of payment services

Payment services are provided by the following providers:
1) National Bank of the Republic of Kazakhstan;
2) banks;
3) organizations carrying out certain types of banking operations;
4) postal operator carrying out postal money transfers;
5) payment organizations;
6) payment agents;
7) payment sub-agents.
For the purposes of this Law, banks and organizations carrying out certain types of banking operations are not considered as payment organizations, payment agents, and payment sub-agents.

Article 11. Criteria and methods for determining significant providers of payment services

The National Bank of the Republic of Kazakhstan refers a provider of payment services to significant providers of payment services if it meets one of the following criteria:
1) the provider of payment services ensures the implementation of payments and/or money transfers in a systemically important or important payment system, whose operators are residents of the Republic of Kazakhstan, during the year in an amount not less than the indicator established by the National Bank of the Republic of Kazakhstan;
2) the provider of payment services ensures the provision of services for issuing payment cards and processing operations with their use on the territory of the Republic of Kazakhstan and abroad during the year in an amount not less than the indicator established by the National Bank of the Republic of Kazakhstan;
3) the provider of payment services ensures the provision of services for issuing, redemption of electronic money and processing operations made with their use during the year in an amount not less than the indicator established by the National Bank of the Republic of Kazakhstan;
4) the provider of payment services ensures the provision of services for making payments through electronic terminals and remote access systems without using payment cards during the year in an amount not less than the indicator established by the National Bank of the Republic of Kazakhstan;
5) the provider of payment services ensures the provision of services for transferring money through the money transfer system on the territory of the Republic of Kazakhstan and abroad during the year in an amount not less than the indicator established by the National Bank of the Republic of Kazakhstan;
6) the provider of payment services ensures the provision of services for making payments and/or money transfers through correspondent accounts opened between banks on the territory of the Republic of Kazakhstan and abroad during the year in an amount not less than the indicator established by the National Bank of the Republic of Kazakhstan;
7) the provider of payment services ensures the organization and implementation of pension payments, benefit payments, social and other payments from the state budget or the State Social Insurance Fund;
8) the provider of payment services ensures the provision of services not provided by other providers of payment services in the payment services market of the Republic of Kazakhstan.
The National Bank of the Republic of Kazakhstan refers providers of payment services to significant providers of payment services independently based on the results of the conducted analysis of the payment services market.
In the event of referring a provider of payment services to significant ones, the National Bank of the Republic of Kazakhstan includes this provider of payment services in the registry of significant providers of payment services, within five working days notifies the provider of payment services in writing and publishes this information on its internet resource.
A significant provider of payment services determines:
1) composition, powers and regulations of the governing body;
2) powers of the leading body;
3) risk management system inherent in the activity of a significant provider of payment services;
4) procedure for resolving conflicts of interest between a significant provider of payment services and interested persons;
5) goals and tasks regarding customer satisfaction with the quality of provided services.
The risk management system inherent in the activity of a significant provider of payment services determines:
1) procedures for identification, measurement, monitoring and management of risks;
2) procedures for ensuring business continuity in providing payment services and a recovery plan for its activity.
A significant provider of payment services:
1) provides to the National Bank of the Republic of Kazakhstan in the order determined by the normative legal act of the National Bank of the Republic of Kazakhstan information on payment services provided by it;
2) ensures the conduct of an assessment of the quality of provided services and submits the results of the conducted assessment to the National Bank of the Republic of Kazakhstan.

Article 12. Types of payment services

Types of payment services:
1) services for accepting and making payments and/or money transfers using a banking and/or digital account;
2) services for accepting cash for crediting to bank accounts and/or replenishing a digital account, including those of third parties;
3) services for accepting cash for making a payment without opening a bank account of the sender of money;
4) services for making money transfers without opening a bank account;
5) services for issuing and redeeming electronic money;
6) services for issuing payment cards;
7) services for selling (distributing) electronic money and payment cards;
8) services for accepting and processing payments made using electronic money;
9) services for processing payments initiated by the client in electronic form and transmitting necessary information to the bank, organization carrying out certain types of banking operations, for making a payment and/or transfer or accepting money for such payments.
The following are not considered payment services:
1) services for transferring cash by a person making a payment (payer) to a person (persons) in front of whom the payer has obligations, carried out without the participation of a provider of payment services;
2) services for collecting banknotes, coins and valuables;
3) services for collecting and transferring money for charitable or non-commercial activities;
4) services for carrying out exchange operations with cash foreign currency without opening a bank account;
5) services ensuring technological support for providing payment services, including those related to processing and storing data, authentication of recipients of payment services, as well as transferring for use and technological support of electronic terminals and equipment used in providing payment services;
6) services related to the issuance and use of electronic payment instruments intended for purchasing goods or services provided by the issuer of electronic payment instruments or in its premises, or for purchasing a specific type of good or service based on a contract concluded with the supplier (suppliers) of such type of good or service;
7) services ensuring informational and technological interaction between the beneficiary - individual entrepreneur, legal entity and provider of payment services when the latter makes money transfers to the beneficiary's benefit for payments accepted from payers without the participation of third parties.

Article 13. Provision of payment services

It is prohibited to provide payment services on the territory of the Republic of Kazakhstan without the corresponding license of the authorized body for regulation, control and supervision of the financial market and financial organizations or registration in the National Bank of the Republic of Kazakhstan.

The requirements established by the first part of this paragraph do not apply to the activity of payment agents and payment sub-agents, as well as providers of payment services carrying out their activity without a license in accordance with the laws of the Republic of Kazakhstan.

Payment services are provided:
1) specified in paragraph 1 of Article 12 of this Law, - by banks having a license of the authorized body for regulation, control and supervision of the financial market and financial organizations for opening and maintaining client bank accounts and transfer operations, by banks carrying out activity without a license of the authorized body for regulation, control and supervision of the financial market and financial organizations in accordance with the laws of the Republic of Kazakhstan;

2) those specified in sub-items 2), 3), 4), 7), 8) and 9) of paragraph 1 of Article 12 of this Law, - by an organization carrying out certain types of banking operations, excluding payment service providers specified in the second and third paragraphs of this sub-item, provided it holds a license from the authorized body for the regulation, control and supervision of the financial market and financial organizations for transfer operations. In this case:

payment services specified in sub-item 1) of paragraph 1 of Article 12 of this Law, - by an organization carrying out settlements for transactions with financial instruments, provided it holds a license from the authorized body for the regulation, control and supervision of the financial market and financial organizations for opening and maintaining client bank accounts;
payment services specified in sub-items 2), 3), 4), 5), 6), 7), 8) and 9) of paragraph 1 of Article 12 of this Law, - by the National Postal Operator, and also, provided it holds a license from the authorized body for the regulation, control and supervision of the financial market and financial organizations for opening and maintaining client bank accounts, the payment service provided for in sub-item 1) of paragraph 1 of Article 12 of this Law;
3) by a postal operator of payment services specified in sub-item 4) of paragraph 1 of Article 12 of this Law, when carrying out postal money transfers in compliance with the conditions established by paragraph 12 of this Article.
The procedure for providing the postal money transfer service is governed by the Law of the Republic of Kazakhstan "On Post";
4) by a payment organization provided it has a registration number for the registration of payment services specified in sub-items 3), 7) - 9) of paragraph 1 of Article 12 of this Law;
5) by a payment agent and payment sub-agent for payment services specified in sub-items 2), 3) and 7) of paragraph 1 of Article 12 of this Law, provided there is an agency agreement for the provision of payment services within the types of payment services permitted for banks, organizations carrying out certain types of banking operations, and payment organizations.

A payment organization has the right to carry out activities to provide payment services as a payment agent of a bank or a payment sub-agent on the basis of an agency agreement for the provision of payment services concluded with a bank or a payment agent. A payment organization provides payment services specified in sub-item 3) of paragraph 1 of Article 12 of this Law provided it has a contract with the service provider.
It is permitted for a payment organization to provide payment services for the acceptance of payments into the budget without opening a client bank account, provided there is an agency agreement for the provision of payment services concluded with a bank and/or an organization carrying out certain types of banking operations.
A payment organization, when providing payment services, uses its own bank account for the crediting of funds exclusively for the provision of payment services specified in sub-item 3) of paragraph 1 of Article 12 of this Law.
In contracts for the provision of payment services specified in sub-item 3) of paragraph 1 of Article 12 of this Law, the procedure for transferring money from the bank account of the payment organization to the bank account of the service provider, the rights and obligations of the parties, as well as the procedure for rewarding the payment organization for providing the payment service and the conditions for involving the payment organization in providing the payment service must be defined.
A payment service is provided on the basis of a contract concluded between the client and the payment service provider, which must contain the following essential conditions:
1) types and general characteristics of the payment services provided;
2) procedure and maximum term for providing the payment service;
3) amounts of fees and commissions charged or indication of an internet resource containing this information, and the procedure for their collection;
4) procedure for providing information about the payment service;
5) procedure for protective actions against unauthorized payments;
6) procedure for determining the exchange rate applied when providing the payment service in foreign currency;
7) conditions under which the payment service provider reserves the right to refuse to provide the payment service;
8) procedure for regulating issues related to unauthorized payment services;
9) client's right to terminate the contract;
10) procedure for presenting claims and resolving disputed situations;
11) procedure and amounts of payments for compensation for damages due to unjustified refusal to execute or improper execution of the instruction.
The payment service provider may provide additional conditions necessary for the provision of the payment service.
A payment service provider has the right to unilaterally change the conditions of the contract specified in paragraph 4 of this Article in favor of improving them for the client.
A payment service provider does not have the right to unilaterally change in the direction of increasing the commissions established on the date of conclusion of the contract between the payment service provider and the client for the payment services provided, except for commissions charged for international payments and/or money transfers, for which the payment service provider notifies the client of the change in commissions in the manner and timeframes provided for in the contract between them. For a payment service provided on a one-time basis through remote access systems, the payment service provider ensures that the client is familiarized with the essential conditions of the contract in Kazakh or Russian, specified in paragraph 4 of this Article, before providing the payment service.
Before providing a payment service, the payment service provider ensures that the client is provided with information about the amount of the commission charged by the payment service provider for the payment service in monetary terms, except for cases provided for by the normative legal act of the National Bank of the Republic of Kazakhstan, when providing payment services through remote access systems.
A payment service provider provides a payment service only on the basis of and in accordance with the conditions of the client's instruction.
It is prohibited for a payment service provider to change the conditions and details of the client's instruction.
To obtain payment services and information banking services, the client has the right to use a remote access system both by the payment service provider servicing their bank account and by a third-party payment service provider.
In order to implement the client's right to receive payment services and information banking services from a third-party payment service provider, the payment service provider servicing the client's bank account is obliged to provide the third-party payment service provider with access to the bank account and client information in accordance with the requirements of the normative legal act of the National Bank of the Republic of Kazakhstan.
The requirement of this paragraph does not apply to payment service providers servicing client bank accounts and not providing electronic banking services via an internet resource.
A payment service provider servicing the client's bank and/or digital account must transfer information about the existence, number of the bank and/or digital accounts and operations on the bank and/or digital accounts of the client to third parties by order and with the consent of the client, confirmed by means of identification tools.
It is prohibited to charge a commission for providing a payment service from the amount of the payment and/or money transfer, except in cases where the condition for charging a commission by deducting it from the amount of the payment and/or money transfer is provided for in the contract between the beneficiary and the payment service provider of the beneficiary. The payment service provider of the beneficiary notifies the beneficiary of the amount of the accepted payment and/or money transfer and the deductions made from it.
A payment service provider, when providing a payment service, ensures compliance with the following conditions:
1) conducting proper verification and identification of the client in accordance with the legislation of the Republic of Kazakhstan on combating the legalization (laundering) of proceeds obtained criminally, terrorism financing and financing of the proliferation of weapons of mass destruction;
2) the presence in the payment document for payment and/or money transfer and the transfer to the participant of the payment and/or money transfer of details on the sender of money and the beneficiary, provided for by the Law of the Republic of Kazakhstan "On combating the legalization (laundering) of proceeds obtained criminally, terrorism financing and financing of the proliferation of weapons of mass destruction", except for cases of a payment organization providing services specified in sub-items 3) and 7) of paragraph 1 of Article 12 of this Law;
3) retention for five years after providing the payment service or closing the client's bank account of information allowing the identification of the sender of money and/or the beneficiary;
4) security of the client's identification tools from access by third parties.
A payment service provider, after providing a payment service (except for the payment service for issuing payment cards), presents the client with a document confirming the fact of providing the payment service on paper or via a telecommunications network.
Requirements for the content of the document confirming the provision of a payment service are established by the normative legal act of the National Bank of the Republic of Kazakhstan.
A payment service provider ensures the confidentiality of information obtained in the provision of payment services and does not allow their disclosure to third parties, except in cases provided for by the laws of the Republic of Kazakhstan.
A payment service provider, when providing payment services, collects and processes personal data with the consent of the subject of personal data, except in cases provided for by the Law of the Republic of Kazakhstan "On personal data and their protection".
A payment service provider has the right to collect copies of documents confirming the identity of non-residents for the purposes provided for by this Law.
A payment organization is prohibited from carrying out any other entrepreneurial activities, except for the following types of activities:
1) purchase, sale, property lease of real estate;
2) advertising, marketing, consulting and information services;
3) development, adaptation, modification, technical support of software;
4) purchase, sale, property lease of electronic terminals, other devices and equipment for processing and transmitting information on payments;
5) related to the use of computing technology and digital technologies, including information technology services, services for processing and transmitting data on payments, creation and use of a database and digital resources;
6) services in the field of logistics and courier activities, including performing agency and intermediary activities in these areas;
7) creation and security of digital systems and networks;
8) development and implementation of cryptographic information protection tools;
9) services for certifying the correspondence of the public key of an electronic digital signature to the private key of an electronic digital signature, as well as confirming the validity of the registration certificate;
10) activities as a participant or operator of a payment system.
A payment service provider has the right to conclude an outsourcing agreement with third parties.
In outsourcing, the payment service provider notifies the National Bank of the Republic of Kazakhstan within fifteen working days from the date of conclusion of the outsourcing agreement.
Outsourcing is not permitted or is terminated in cases:
1) arising risk of violation by the payment service provider of the requirements of this Law and normative legal acts of the National Bank of the Republic of Kazakhstan, as well as hindering the National Bank of the Republic of Kazakhstan or the authorized body for the regulation, control and supervision of the financial market and financial organizations from carrying out functions of control and supervision of the payment services market;
2) if the third party does not meet the requirements necessary to ensure the provision of payment services by the payment service provider;
3) presence of contradiction between outsourcing and the conditions imposed on payment service providers for carrying out activities to provide payment services;
4) annulment or change by outsourcing of the conditions on the basis of which the payment service provider was issued a permit to carry out activities to provide payment services;
5) non-performance or improper performance by the third party of its obligations under the outsourcing agreement.
The procedure for outsourcing is determined by the internal rules of the payment service provider and in accordance with the outsourcing agreement.
The payment service provider bears civil liability for non-performance or improper performance by the third party of its obligations under the outsourcing agreement. The payment service provider, if necessary, terminates the outsourcing agreement on condition of ensuring uninterruptedness and quality of providing payment services, as well as the interests of recipients of payment services.
The prohibition established by paragraph 15 of this Article for a payment organization does not apply to the activity of a legal entity ensuring the functioning of the unified accounting system, carried out in accordance with the Law of the Republic of Kazakhstan "On Gambling Business", as well as to the activity of a legal entity attracted by it to provide services to the payment organization.

Article 14. Requirements for providing payment services through payment agents and/or payment sub-agents

A bank, an organization carrying out certain types of banking operations, a payment organization has the right to provide payment services to clients through a payment agent or payment sub-agent on the basis of an agency agreement for the provision of payment services.
A payment organization has the right to involve a payment agent and a payment sub-agent in providing a payment service if such a condition is provided for in the contract with the service provider.
A payment service by a payment agent and/or a payment sub-agent is provided to the client upon compliance with the following requirements:
1) provision of the payment service on behalf of a bank or an organization carrying out certain types of banking operations, or a payment organization;
2) fulfillment of the conditions specified in paragraph 12 of Article 13 of this Law;
3) presentation to the client of a document confirming the fact of providing the payment service and containing the necessary details;
4) collection of remuneration by the payment agent in accordance with the conditions of the contract concluded with a bank or an organization carrying out certain types of banking operations, or a payment organization, and by a payment sub-agent in accordance with the contract concluded with the payment agent, as well as the contract between the payment agent and a bank, an organization carrying out certain types of banking operations, or a payment organization;
5) providing the client with information specified in paragraph 3 of this Article.
Before the start of providing a payment service by a payment agent and/or a payment sub-agent, the following information must be provided to the client:
1) name of the payment service and address of the place of its provision;
2) name, identification number, contact details (location and legal address, phone number) of the bank, organization carrying out certain types of banking operations, payment organization, payment agent, as well as payment sub-agent.
Payment agents and payment sub-agents who are individual entrepreneurs additionally indicate information about their surname, first name, patronymic (if indicated in the document confirming identity);
3) license number of the bank or organization carrying out certain types of banking operations for carrying out banking operations or registration number of the registration of the payment organization;
4) amount of remuneration withheld by the payment agent and/or payment sub-agent from the client when providing the payment service (in case of its collection).
A bank, an organization carrying out certain types of banking operations, and a payment organization must keep registers of their payment agents and payment sub-agents in the manner determined by the internal document of the bank, organization carrying out certain types of banking operations, payment organization.
A payment agent ensures the provision to the bank, organization carrying out certain types of banking operations, or payment organization of information about attracted payment sub-agents for their inclusion in the specified register in the manner determined by the contract between them.
A bank, organization carrying out certain types of banking operations, payment organization are obliged to carry out control over the compliance by the payment agent of the requirements of the legislation of the Republic of Kazakhstan on payments and payment systems, as well as the conditions for providing payment services established by the contract between the payment agent and the bank, organization carrying out certain types of banking operations, payment organization.
The procedure for carrying out control provided for in the first part of this paragraph is established in the contract between the bank, organization carrying out certain types of banking operations, payment organization and the payment agent or in the internal rules of the bank, organization carrying out certain types of banking operations, and payment organization.
A payment agent is obliged to carry out control over the compliance by the payment sub-agent of the requirements of the legislation of the Republic of Kazakhstan on payments and payment systems and the conditions for providing payment services established by the contract between the payment agent and the bank, organization carrying out certain types of banking operations, and payment organization, in the manner determined by the contract between the payment agent and/or payment sub-agent, as well as between the payment agent and the bank, organization carrying out certain types of banking operations, or payment organization.
A bank, organization carrying out certain types of banking operations, payment organization, having concluded agency agreements for the provision of payment services, submit to the National Bank of the Republic of Kazakhstan information about these services, as well as about their payment agents and payment sub-agents in the manner determined by the normative legal act of the National Bank of the Republic of Kazakhstan.
A bank, organization carrying out certain types of banking operations, payment organization bear joint and several liability with the payment agent and payment sub-agent, having concluded agency agreements for the provision of payment services, to the client for the obligations of the payment agent and payment sub-agent.

Article 15. Creation of a payment organization

A legal entity not registered as a payment organization does not have the right to use the words "payment organization", words derived from them, implying that it carries out activities to provide payment services, in its name.
A payment organization has the right to open its branches, including outside the Republic of Kazakhstan.
A payment organization notifies the National Bank of the Republic of Kazakhstan about the opening of its branches in the manner determined by the normative legal act of the National Bank of the Republic of Kazakhstan.
A payment organization keeps accounting and reporting in accordance with the requirements of the legislation of the Republic of Kazakhstan on accounting and financial reporting.

Article 15-1. Formation of the authorized capital of a payment organization

The minimum size of the authorized capital of a payment organization is established by the normative legal act of the National Bank of the Republic of Kazakhstan and is formed before the payment organization applies to the National Bank of the Republic of Kazakhstan for registration.
The authorized capital of a payment organization is formed exclusively in cash in the national currency of the Republic of Kazakhstan.

Article 16. Registration of a payment organization

Registration of payment organizations in the National Bank of the Republic of Kazakhstan is carried out for the purpose of regulating and controlling their activities and is a mandatory condition for a payment organization to provide payment services.
Activities to provide payment services carried out by a payment organization without undergoing registration in the National Bank of the Republic of Kazakhstan are illegal and entail liability established by the laws of the Republic of Kazakhstan.
To undergo registration, a payment organization submits to the National Bank of the Republic of Kazakhstan:
1) an application in the form determined by the National Bank of the Republic of Kazakhstan, containing in particular information about the head (members) of the executive body (with copies of the diploma(s) and a document confirming the labor activity of the employee in accordance with the Labor Code of the Republic of Kazakhstan attached);
2) copies of documents confirming the formation of the authorized capital;
3) charter;
4) document determining the procedure for interaction of the payment organization with the corresponding bank or organization carrying out certain types of banking operations, carrying out money transfers for the payment services provided;
5) information and documents confirming the presence in the staff (hiring) of the head of the structural unit responsible for the administration of information and communication systems, and the head of the compliance control service or another person to whom compliance control is assigned;

6) internal control rules for combating the legalization (laundering) of proceeds obtained criminally, terrorism financing, and financing of the proliferation of weapons of mass destruction for payment organizations;
7) rules for the activity of a payment organization approved by the management body of the payment organization.
The list of mandatory conditions for the rules of activity of a payment organization is established by a normative legal act of the National Bank of the Republic of Kazakhstan.

The National Bank of the Republic of Kazakhstan considers an application of a payment organization for registration within fifteen working days from the date of submission of the full list of documents specified in paragraph 2 of this Article.
The National Bank of the Republic of Kazakhstan, upon a payment organization undergoing registration, assigns a registration number to the payment organization, makes an entry in the register of payment organizations, and sends a written notification to the payment organization indicating the registration number regarding the completion of registration within the term established by paragraph 3 of this Article.
In case of refusal of registration, the National Bank of the Republic of Kazakhstan sends a written notification to the payment organization regarding the refusal of registration, indicating the reason for refusal, within the term established by paragraph 3 of this Article.
The register of payment organizations that have undergone registration is posted on the internet resource of the National Bank of the Republic of Kazakhstan.
A payment organization is obliged to indicate its registration number when providing information about the payment organization.
A payment organization informs the National Bank of the Republic of Kazakhstan about all changes and additions made to the documents on the basis of which registration was conducted, within ten calendar days after the introduction of these changes.
Foreign structures without legal entity status registered in a foreign state (territory), included (included) in the list of states (territories) compiled by the authorized body for financial monitoring, which do not perform and/or insufficiently perform the recommendations of the Financial Action Task Force (FATF), cannot directly or indirectly own and/or use, and/or dispose of participation shares in the charter capital of payment organizations.
Indirect ownership of participation shares in the charter capital or ownership (voting) of participation shares in the charter capital of a payment organization provides the opportunity to determine the decisions of a legal entity participant of a payment organization through ownership (voting) of participation shares in the charter capital (shares) of other legal entities.

Article 17. Grounds for refusal of registration of a payment organization

Refusal of registration of a payment organization is carried out in cases:
1) submission of incomplete and/or unreliable information subject to reflection in the documents specified in paragraph 2 of Article 16 of this Law;
2) submission of an incomplete list of documents or non-compliance of documents with the requirements of this Law and the normative legal act of the National Bank of the Republic of Kazakhstan;
3) if the head of the executive body of the payment organization does not meet the requirements established in Article 19 of this Law;
4) if the payment organization, within one year from the date of its state registration (re-registration) in the State Corporation "Government for Citizens", did not apply for registration.
In case of refusal of registration, a legal entity has the right to resubmit an application for registration after eliminating the reasons that caused the refusal of registration of the payment organization, or to decide to change its name or reorganize or liquidate.
Failure to eliminate the reasons that caused the refusal of registration of the payment organization is a ground for refusing to reconsider the said application.
A resubmitted application is considered by the National Bank of the Republic of Kazakhstan within ten working days.

Article 18. Grounds for exclusion from the register of payment organizations

A payment organization is excluded from the register of payment organizations in cases:
1) systematic (three or more times within twelve consecutive calendar months) failure to submit information about payment services to the National Bank of the Republic of Kazakhstan;
2) submission of unreliable information about payment services or unreliable information subject to reflection in the documents specified in paragraph 2 of Article 16 of this Law, which affect the decision on registration of the payment organization;
3) systematic (three or more times within twelve consecutive calendar months) violation of the legislation of the Republic of Kazakhstan on payments and payment systems and/or on combating the legalization (laundering) of proceeds obtained criminally, terrorism financing, and financing of the proliferation of weapons of mass destruction;
4) non-implementation by a payment organization included in the register of payment organizations of activities for providing payment services for six consecutive calendar months;
5) discovery of circumstances provided for in sub-paragraphs 3) and 4) of paragraph 1 of Article 17 of this Law;
6) entry into legal force of a court act on termination of activity of a payment organization;
7) inclusion of information on termination of activity of a payment organization in the National Register of Business Identification Numbers;
8) adoption by a payment organization of a decision on voluntary termination of its activity through reorganization (merger, accession, division, separation, transformation) or liquidation. In this case, the payment organization fulfills all its obligations before submitting an application for exclusion from the register of payment organizations. A letter confirming the fulfillment of all obligations must be attached to the application simultaneously;
9) obstruction by a payment organization of an inspection by the National Bank of the Republic of Kazakhstan or non-execution of directives of the National Bank of the Republic of Kazakhstan;
10) receipt of an application from a payment organization in case of refusal to provide payment services, except for cases where such exclusion contributes to causing damage to the interests of recipients of payment services;
11) carrying out activities prohibited for payment organizations in accordance with the requirements of this Law.
Upon exclusion from the register of payment organizations, the National Bank of the Republic of Kazakhstan notifies the payment organization in writing within five working days from the date of exclusion and publishes information about this on its internet resource.
The notification is sent to the location of the payment organization or the address indicated in the application for registration.
The decision of the National Bank of the Republic of Kazakhstan on the exclusion of a payment organization from the register of payment organizations may be appealed in the manner determined by the laws of the Republic of Kazakhstan.
Appealing the decision of the National Bank of the Republic of Kazakhstan on the exclusion of a payment organization from the register of payment organizations does not suspend the execution of this decision.
A payment organization is prohibited from providing payment services after receiving a written notification from the National Bank of the Republic of Kazakhstan on its exclusion from the register of payment organizations.
In case of exclusion from the register of payment organizations, a payment organization is obliged, within thirty calendar days from the moment of notification by the National Bank of the Republic of Kazakhstan on exclusion from the register of payment organizations, to make a decision to change its name if it contains the words "payment organization" or to reorganize or liquidate the payment organization.

Article 19. Requirements for the head of the executive body of a payment organization

The head of the executive body of a payment organization must have higher education.
It is prohibited to elect or appoint as the head of the executive body of a payment organization a person:
1) who was a head, member of the management body, head, member of the executive body, chief accountant of a financial organization in a period of no more than one year prior to the decision on applying a resolution regime to a bank, a decision on depriving a financial organization of a license, resulting in its liquidation and/or cessation of activity in the financial market, or entry into legal force of a court act on compulsory liquidation of a financial organization or recognition of its bankruptcy in the manner determined by the legislation of the Republic of Kazakhstan or the legislation of the state of which the financial organization - non-resident of the Republic of Kazakhstan is a resident;
2) who previously was the head of the executive body, founder or first head of the founder - a legal entity of a payment organization, a major participant or the first head of a major participant - a legal entity of a payment organization in a period of no more than five years prior to its exclusion from the register of payment organizations on grounds provided for in sub-paragraphs 1), 2), 3), 4), 5), 6), 9) and 11) of paragraph 1 of Article 18 of this Law, or a payment organization liquidated on the basis of a court act that has entered into legal force or recognized as bankrupt in the manner established by the legislation of the Republic of Kazakhstan;
3) having an unexpunged or unpaid criminal record.
The National Bank of the Republic of Kazakhstan issues a directive to replace the head of the executive body of a payment organization if:
1) the person does not meet the requirements of this Article;
2) the payment organization submitted unreliable information or forged documents about the head of the executive body of the payment organization.
It is prohibited to elect or appoint as the head of the executive body of a payment organization a person who is in the list of organizations and persons associated with terrorism financing and extremism, as well as in the list of organizations and persons associated with financing of the proliferation of weapons of mass destruction, in accordance with the legislation of the Republic of Kazakhstan on combating the legalization (laundering) of proceeds obtained criminally, terrorism financing, and financing of the proliferation of weapons of mass destruction.

Article 19-1. Founders and participants of a payment organization

The founders (participants) (one of the founders, participants) of a payment organization are natural persons, legal entities, and foreign structures without legal entity status, with the exception of persons:
1) regarding whom there is an unexpunged or unpaid criminal record or a court decision that has entered into legal force on applying criminal punishment in the form of deprivation of the right to hold a position of a leading employee of a financial organization, banking and/or insurance holding and to be a major participant (major shareholder) of a financial organization;
2) located in the list of organizations and persons associated with terrorism financing and extremism, as well as the list of organizations and persons associated with financing of the proliferation of weapons of mass destruction, in accordance with the legislation of the Republic of Kazakhstan on combating the legalization (laundering) of proceeds obtained criminally, terrorism financing, and financing of the proliferation of weapons of mass destruction;
3) who were a head, member of the management body, head, member of the executive body, chief accountant of a financial organization, head or deputy head of a branch of a bank - non-resident of the Republic of Kazakhstan, branch of an insurance (reinsurance) organization - non-resident of the Republic of Kazakhstan, branch of an insurance broker - non-resident of the Republic of Kazakhstan in a period of no more than one year prior to the decision by the authorized body on applying a resolution regime to a bank, a decision on depriving a license of a financial organization, a branch of a bank - non-resident of the Republic of Kazakhstan, a branch of an insurance (reinsurance) organization - non-resident of the Republic of Kazakhstan, a branch of an insurance broker - non-resident of the Republic of Kazakhstan, or entry into legal force of a court act on compulsory liquidation of a financial organization or recognition of its bankruptcy in the manner established by the legislation of the Republic of Kazakhstan, or entry into legal force of a court act on compulsory termination of activity of a branch of a bank - non-resident of the Republic of Kazakhstan, a branch of an insurance (reinsurance) organization - non-resident of the Republic of Kazakhstan in cases established by the laws of the Republic of Kazakhstan;
4) who were a founder or first head of the founder - a legal entity of a payment organization, a major participant or the first head of a major participant - a legal entity and/or a head of a management body, head of the executive body of a payment organization in a period of no more than five years prior to its exclusion from the register of payment organizations on grounds provided for in sub-paragraphs 1), 2), 3), 4), 5), 6), 9) and 11) of paragraph 1 of Article 18 of this Law, or a payment organization liquidated on the basis of a court act that has entered into legal force or recognized as bankrupt in the manner established by the legislation of the Republic of Kazakhstan;
5) having registration, place of residence or location in offshore zones, the list of which is established by the National Bank of the Republic of Kazakhstan.

Article 20. Reorganization (merger, accession, division, separation, transformation) of a payment organization

Voluntary reorganization (merger, accession, division, separation, transformation) of payment organizations may be carried out by decision of shareholders (participants) of payment organizations with the consent of the National Bank of the Republic of Kazakhstan.
When making a decision on voluntary reorganization of a payment organization, the following are submitted for approval to the National Bank of the Republic of Kazakhstan:
1) a decision on voluntary reorganization of a payment organization;
2) documents describing the proposed terms, forms, procedure and deadlines for voluntary reorganization of a payment organization;

3) excluded in accordance with the Law of the RK of 25.11.19 No. 272-VI
4) an agreement on accession (merger) signed by the heads of the executive bodies of the reorganized payment organizations;
5) an audit report in accordance with the legislation of the Republic of Kazakhstan on audit activity;
6) excluded in accordance with the Law of the RK of 25.11.19 No. 272-VI
7) rules for the activity of the entity formed as a result of voluntary reorganization of a payment organization.

The National Bank of the Republic of Kazakhstan considers the documents submitted, specified in paragraph 2 of this Article, and within ten working days from the date of their submission sends a written notification of the adopted decision.
Reorganized payment organizations, within fifteen calendar days from the date of receiving consent from the National Bank of the Republic of Kazakhstan for conducting voluntary reorganization, are obliged to inform all their clients and suppliers of payment services about the reorganization being carried out by publishing a corresponding announcement in mass media, including on their internet resource.
Registration of an entity formed as a result of voluntary reorganization of a payment organization is carried out in accordance with the requirements of this Law and the normative legal act of the National Bank of the Republic of Kazakhstan.
Exclusion from the register of reorganized payment organizations is carried out simultaneously on the day of inclusion of the entity formed as a result of voluntary reorganization of a payment organization in the register of payment organizations.
The National Bank of the Republic of Kazakhstan refuses to give consent for voluntary reorganization of payment organizations in cases:
1) if the head of the executive body of the entity formed as a result of voluntary reorganization of a payment organization does not meet the requirements of Article 19 of this Law;
2) if voluntary reorganization of payment organizations hinders the exercise of control and supervision over the market of payment services, as well as causes harm to the interests of recipients of payment services.

Chapter 4. REGULATION OF PAYMENT SYSTEMS AND OVERSIGHT THEREOF, REGULATION OF THE MARKET OF PAYMENT SERVICES AND CONTROL THEREOF

Article 21. Regulation of payment systems and oversight thereof

For the purpose of regulating payment systems, the National Bank of the Republic of Kazakhstan:
1) determines the procedure for exercising oversight (oversight) over payment systems;
2) adopts normative legal acts aimed at ensuring the efficiency and reliability of the functioning of payment systems on the territory of the Republic of Kazakhstan;
3) approves indicators of criteria for significant payment systems;
4) determines the procedure for maintaining the register of payment systems.
For the purpose of exercising oversight (oversight) over payment systems, the National Bank of the Republic of Kazakhstan:
1) monitors systemically important payment systems;
2) analyzes and evaluates the functioning of systemically important, significant payment systems for compliance with international standards, including analysis of the impact on the work of payment systems of significant clients of participants of the payment system;
3) analyzes payments and/or transfers of money based on the results of operations with securities and foreign currency;

4) receives information on questions of payments and/or transfers of money, functioning of payment systems from operators, operational centers and participants of payment systems, including information on volumes of payments and/or transfers of money carried out through systemically important or significant payment systems, carried out by significant clients of participants of said payment systems;
5) conducts inspections of the activities of operators and/or operational centers of systemically important and significant payment systems, including any other person authorized by contract with them to provide services for the functioning of a payment system, in the manner determined by the Law of the Republic of Kazakhstan "On State Regulation, Control and Supervision of the Financial Market and Financial Organizations", for compliance with the requirements of the legislation of the Republic of Kazakhstan on payments and payment systems;
6) observes the performance by participants of systemically important payment systems of requirements for organizational measures and software-technical means ensuring access to systemically important payment systems;
7) maintains and posts registers of systemically important, significant and other payment systems on its internet resource.

In exercising oversight (oversight) over payment systems, the National Bank of the Republic of Kazakhstan interacts with state bodies, operators and participants of payment systems and other financial organizations of the Republic of Kazakhstan.
The National Bank of the Republic of Kazakhstan cooperates with central banks and other supervisory (oversight) bodies in payment systems of foreign states, international organizations when evaluating the functioning of systemically important, significant payment systems, including by concluding agreements (contracts, memoranda) on cooperation.

Article 22. Monitoring of systemically important payment systems, analysis and evaluation of the functioning of systemically important, significant payment systems

Monitoring of systemically important payment systems, analysis of the functioning of systemically important, significant payment systems are carried out by the National Bank of the Republic of Kazakhstan based on information received from operators, operational centers and participants of systemically important or significant payment systems.
Evaluation of the functioning of systemically important, significant payment systems for compliance with international standards is carried out by the National Bank of the Republic of Kazakhstan as necessary jointly with the operator, operational center of systemically important or significant payment systems with the involvement of specialists of international financial organizations or without their involvement.
The National Bank of the Republic of Kazakhstan carries out analysis of the received information and formation of corresponding reporting and other results of oversight (oversight). Summary results of the conducted analysis are published annually on the internet resource of the National Bank of the Republic of Kazakhstan.

Article 23. Regulation of the market of payment services, control and oversight thereof

For the purpose of regulating the market of payment services, the National Bank of the Republic of Kazakhstan:
1) approves indicators under which a provider of payment services belongs to significant providers of payment services;
2) determines the procedure for maintaining the register of significant providers of payment services;
3) develops measures aimed at increasing the efficiency and reliability of the functioning of the market of payment services.
For the purpose of control and oversight over the market of payment services, the National Bank of the Republic of Kazakhstan:
1) analyzes the market of payment services;

2) conducts analysis of the application of payment instruments;
3) conducts analysis and evaluation of services provided by payment service providers;
4) obtains from significant payment service providers information on the payment services they have rendered;
5) obtains information on payment services, other information on payments and (or) money transfers, functioning of the payment services market from payment service providers;
6) carries out accounting registration of payment organizations;
7) maintains a register of payment organizations;
8) maintains and publishes a register of significant payment service providers on its website;
9) exercises control and supervision over compliance by payment service providers who are not banks and organizations carrying out certain types of banking operations (hereinafter - other subjects of the payment services market), payment system operators, and payment system operational centers with the requirements of the legislation of the Republic of Kazakhstan on payments and payment systems;
10) conducts inspections of the activities of payment system operators, payment system operational centers, and other subjects of the payment services market.

2-1. The authorized body for regulation, control, and supervision of the financial market and financial organizations exercises control and supervision over compliance by payment service providers that are banks, organizations carrying out certain types of banking operations, with the requirements of the legislation of the Republic of Kazakhstan on payments and payment systems and conducts inspections of their activities.

In exercising regulation, control, and supervision over the payment services market, the National Bank of the Republic of Kazakhstan interacts with state bodies and financial organizations of the Republic of Kazakhstan.
The National Bank of the Republic of Kazakhstan cooperates with central banks and other regulatory authorities for the payment services market of foreign states, as well as international organizations.

Article 24. Application of limited impact measures, supervisory response measures, and sanctions in relation to payment system operators, payment system operational centers, payment service providers

The National Bank of the Republic of Kazakhstan, within its competence, applies limited impact measures and sanctions to payment system operators, payment system operational centers, and other subjects of the payment services market for violation of the requirements of the legislation of the Republic of Kazakhstan on payments and payment systems, on countering the legalization (laundering) of proceeds obtained criminally, terrorism financing, and financing of the proliferation of weapons of mass destruction, and the Law of the Republic of Kazakhstan "On Gambling Business" in the manner provided for by the Code of the Republic of Kazakhstan on Administrative Offenses and the Law of the Republic of Kazakhstan "On the National Bank of the Republic of Kazakhstan".
The National Bank of the Republic of Kazakhstan suspends the participation of banks, organizations carrying out certain types of banking operations, in foreign payment systems, the functioning of payment systems, and the activities of payment organizations on the territory of the Republic of Kazakhstan in the manner determined by the normative legal act of the National Bank of the Republic of Kazakhstan, in cases where further functioning of such payment system or activity of payment organizations poses a threat to the stability of the financial system of the Republic of Kazakhstan.
Resumption of the functioning of payment systems, activities of payment organizations, participation of banks and organizations carrying out certain types of banking operations in foreign payment systems is carried out after elimination of the reasons for suspension of their activities based on a written notification by the National Bank of the Republic of Kazakhstan to the operator of the corresponding payment system, payment organization, bank, and organization carrying out certain types of banking operations about the possibility of resuming their functioning and participation, respectively, sent in the manner determined by the normative legal act of the National Bank of the Republic of Kazakhstan.
The authorized body for regulation, control, and supervision of the financial market and financial organizations, within its competence, applies supervisory response measures for violation of the requirements of the legislation of the Republic of Kazakhstan on payments and payment systems and the Law of the Republic of Kazakhstan "On Gambling Business" in relation to payment service providers that are banks and organizations carrying out certain types of banking operations, in the manner established by the Law of the Republic of Kazakhstan "On Banks and Banking Activity in the Republic of Kazakhstan".
With respect to payment system operators, payment system operational centers, and other subjects of the payment services market, the National Bank of the Republic of Kazakhstan has the right to apply one of the following limited impact measures:
1) issue a mandatory written directive;
2) issue a written warning;
3) conclude a written agreement.
A written directive is an indication to other subjects of the payment services market to take corrective measures mandatory for execution, aimed at eliminating identified violations and/or causes, as well as conditions contributing to their commission, within the term set in the written directive and/or the necessity of submitting a plan of events for eliminating identified violations and/or causes, as well as conditions contributing to their commission (hereinafter - plan of events) within the established term.
The plan of events submitted within the term established by the written directive specifies a description of violations, causes, and/or conditions leading to their occurrence, a list of planned events, terms of their implementation, and responsible officials.
Appeal of the written directive of the National Bank of the Republic of Kazakhstan to court does not suspend its execution.
A written warning is a notification by the National Bank of the Republic of Kazakhstan of the possibility of applying sanctions to another subject of the payment services market in case the National Bank of the Republic of Kazakhstan identifies a similar violation of the norms of the legislation of the Republic of Kazakhstan within one year after issuance of this warning.
A written agreement is a written agreement concluded between the National Bank of the Republic of Kazakhstan and another subject of the payment services market regarding the necessity of eliminating identified violations and/or causes, as well as conditions contributing to their commission, and approving a list of measures to eliminate these violations and/or causes, as well as conditions contributing to their commission, specifying terms of their elimination and/or a list of restrictions that the other subject of the payment services market accepts until elimination of identified violations and/or causes, as well as conditions contributing to their commission.
A written agreement must be signed obligatorily by the other subject of the payment services market.
Another subject of the payment services market is obliged to notify the National Bank of the Republic of Kazakhstan about the execution of the limited impact measure within the terms specified in the document of the National Bank of the Republic of Kazakhstan on the application of the limited impact measure.
The procedure for applying limited impact measures in relation to other subjects of the payment services market is determined by the normative legal act of the National Bank of the Republic of Kazakhstan.
The National Bank of the Republic of Kazakhstan has the right to apply limited impact measures defined by this article to another subject of the payment services market regardless of previously applied limited impact measures or sanctions to it.
In case of absence of possibility to eliminate the violation and/or causes, as well as conditions contributing to their commission, within the terms established in the written directive and/or plan of events, written agreement, for reasons beyond the control of another subject of the payment services market, the term for execution of the written directive and/or plan of events, written agreement may be extended by the National Bank of the Republic of Kazakhstan in the manner established by the normative legal act of the National Bank of the Republic of Kazakhstan.

Chapter 5. PAYMENTS AND (OR) MONEY TRANSFERS

Article 25. Payments and (or) money transfers

Payments are made on the basis of and in accordance with the conditions of civil law transactions, norms of the legislation of the Republic of Kazakhstan, and court decisions.
Payments and (or) money transfers are made on the basis of or using payment instruments.
Forms, mandatory requisites of payment documents, and other requirements for their content, features of use of electronic payment funds, procedure for rendering electronic banking services, and application of sector codes and payment purposes are established by normative legal acts of the National Bank of the Republic of Kazakhstan. Information and requisites used for making payments and (or) money transfers may be presented in the form of a barcode assigned by a payment service provider or payment system operator. The national standard of the barcode assigned by a payment service provider or payment system operator for making payments for goods, works, or services provided within business activity is developed by the National Bank of the Republic of Kazakhstan jointly with the state body exercising leadership in the sphere of ensuring receipt of taxes and payments into the budget. For making payments using a barcode, other standards of organizations may be used, not contradicting the national standard of the barcode. The National Bank of the Republic of Kazakhstan jointly with the state body exercising leadership in the sphere of ensuring receipt of taxes and payments into the budget establishes the minimum list of requisites used for making payments using a barcode, excluding banking secrecy.
Payments and (or) money transfers on the territory of the Republic of Kazakhstan are carried out both with the use of cash and without their use (non-cash payments) in the following ways:
1) transfer of cash;
2) transfer of electronic money;
3) money transfer using payment documents;
4) issuance of a payment document containing a monetary obligation or order for payment of money;
5) use of electronic payment funds;
6) transfer (transfer) of digital tenge.
Initiation of a payment and (or) money transfer is carried out by:
1) presentation by the initiator of a payment document;
2) use by the holder of an electronic payment fund;
3) deposit by the initiator of cash for money transfer via electronic terminals and other devices;
4) sending by the initiator of consent to carry out a payment, including mobile payment, via remote access systems.
Cash payments consist in the physical transfer of cash in the form of banknotes and/or coins, which are legal tender, by the person making the payment to the person before whom such person has a monetary obligation.
Cash payments are made to the person before whom the monetary obligation is fulfilled, directly or through an intermediary.
Non-cash payments and (or) money transfers are carried out on the basis of payment instruments using bank accounts, as well as without their use in tenge and foreign currency in the manner determined by this Law and normative legal acts of the National Bank of the Republic of Kazakhstan.

7-1. Payments and (or) money transfers using digital tenge are carried out using digital accounts in the manner determined by this Law and normative legal acts of the National Bank of the Republic of Kazakhstan.

Payments and (or) money transfers carried out by legal entities, branches, or representative offices of a legal entity through payment service providers are carried out only using bank and/or digital accounts and/or electronic wallets.
The first part of this paragraph does not apply to payment by legal entities of payments into the budget, payments for state services, as well as voluntary pension contributions and social deductions.
Payments under a transaction, the amount of which exceeds a thousand-fold size of the monthly calculation indicator established by the law on the republican budget and acting on the date of making the payment, are carried out by individual entrepreneurs registered as value-added tax payers, or legal entities in favor of another individual entrepreneur registered as a value-added tax payer, or legal entity only in a non-cash manner.

9-1. Payments under transactions for acquiring a share in a constructed multi-apartment residential building or a complex of individual residential houses under contracts for shared construction of housing are carried out in a non-cash manner, including by depositing cash into the bank account of the authorized company, in accordance with the legislation of the Republic of Kazakhstan on shared construction of housing. The basis for the bank of the sender of money to make payments under transactions for acquiring a share in a constructed multi-apartment residential building or a complex of individual residential houses under contracts for shared construction of housing is the presence of a registered contract for shared construction of housing with the authorized company in the unified digital system of shared construction of housing in accordance with the rules of maintaining the unified digital system of shared construction of housing.

Banks provide state bodies, courts via the payment gateway of the "digital government" information and data on made payments and (or) money transfers related to payment of payments into the budget, remittance of mandatory pension contributions, mandatory professional pension contributions, and social deductions, as well as payment for state services, in the manner and terms established by the authorized body in the sphere of digitalization in coordination with the National Bank of the Republic of Kazakhstan.

10-1. Repealed in accordance with Law of RK of 31.12.21 No. 100-VII

10-2. Second-tier banks providing payment services via mobile applications and/or remote access systems, including using barcodes, are obliged to interact with the interbank system of mobile payments for carrying out interbank mobile payments and/or money transfers according to instructions of clients - natural persons.

Individual entrepreneurs and/or legal entities, except those located in areas lacking the network of public telecommunications, when carrying out certain types of activities are obliged to ensure installation and use of equipment (devices) for accepting payments using payment cards and accepting mobile payments using the interbank system of mobile payments at the places of carrying out their activities.
Banks installing equipment (devices) for customers - individual entrepreneurs and/or legal entities, except those located in areas lacking the network of public telecommunications, when carrying out certain types of activities, intended for accepting payments using payment cards, ensure the possibility of accepting payments using the interbank system of mobile payments with formation of a barcode in the format determined by the National Bank of the Republic of Kazakhstan. The list of certain types of activities and use of equipment (devices) intended for accepting payments using payment cards and accepting mobile payments using the interbank system of mobile payments is approved by the Government of the Republic of Kazakhstan. Participation in the instant payment system of payment organizations is allowed in cases and in the manner determined by the National Bank of the Republic of Kazakhstan. When making payments via the instant payment system, crediting of money in favor of the beneficiary is ensured by the beneficiary's servicing payment service provider - participant of the instant payment system in an instant mode. Money transfer between payment service providers (final settlement) via the instant payment system is carried out as a result of clearing and is ensured by money held in the National Bank of the Republic of Kazakhstan. The requirements established by the first part of this paragraph do not apply to an individual entrepreneur and/or legal entity that carry out monetary settlements during trade operations, performance of works, provision of services without the use of cash.
Money transfer in favor of the beneficiary may be carried out by a bank, organization carrying out certain types of banking operations, in national or foreign currency by using money transfer systems.
The bank, organization carrying out certain types of banking operations, must ensure the realization of money transfer in favor of the beneficiary in accordance with the formats and rules of the money transfer system.
Refusal to carry out payments and (or) money transfers by payment organizations is produced in cases provided for by this Law and laws of the Republic of Kazakhstan "On Countering the Legalization (Laundering) of Proceeds Obtained Criminally, Terrorism Financing, and Financing of Proliferation of Weapons of Mass Destruction" and "On Gambling Business".
Clients are prohibited from providing access to a bank account or payment instrument, or identification means, as well as transferring a payment instrument or identification means to third parties, resulting in third parties gaining access to carrying out payments and (or) money transfers, except for providing such access to a spouse (husband/wife) and close relatives, as well as other persons in cases established by legislation.
Clients are prohibited from carrying out payments and (or) money transfers in the interests of a third party or in favor of a third party for material remuneration or benefits of an property nature.
Carrying out payments and (or) money transfers using a bank account, payment instrument, or identification means of third parties is prohibited, except for using a bank account, payment instrument, or identification means of a spouse (husband/wife) and close relatives, as well as other persons in cases established by legislation.

Article 25-1. Anti-Fraud Center

Anti-Fraud Center:
1) collects, consolidates, and stores information on events and attempts regarding payment transactions with signs of fraud received from financial organizations, payment organizations, cellular communication operators, and criminal prosecution bodies;
2) processes and analyzes data on payments and (or) money transfers, classified in accordance with established criteria as payment transactions with signs of fraud, necessary for financial organizations, payment organizations, cellular communication operators, criminal prosecution bodies;
3) provides information necessary for preventing payment transactions with signs of fraud to financial organizations, payment organizations, cellular communication operators, criminal prosecution bodies, including information on threats, vulnerabilities, prerequisites for the occurrence of events, as well as methods of their prevention and elimination of consequences;
4) ensures the appropriate regime of storage, protection, and preservation of information, data, and documents obtained in the course of its activities constituting official, commercial, banking, or other secrets protected by law;
4-1) assists in identifying and preventing other payment transactions that are recognized as illegal and/or prohibited in accordance with the laws of the Republic of Kazakhstan, based on information from criminal prosecution bodies, national security, and law enforcement bodies;
5) performs other functions determined by the National Bank of the Republic of Kazakhstan in accordance with the laws of the Republic of Kazakhstan.
A payment and (or) money transfer (including an attempt to make such payment and (or) money transfer, a payment and (or) money transfer in the process of execution) is recognized by a financial organization, payment organization as a payment transaction with signs of fraud:
1) if there is an appeal by the client regarding detection by him of a payment transaction with signs of fraud;
2) if there is confirmed information from a criminal prosecution body;
3) if, in accordance with internal documents of the financial organization, payment organization, there are such grounds;
4) if the sender of money and/or beneficiary of the payment and/or money transfer are in the database on events and attempts of carrying out a payment transaction with signs of fraud.

2-1. Rules of organizing the activity of the data exchange center for payment transactions with signs of fraud (Anti-Fraud Center of the National Bank of the Republic of Kazakhstan), approved by the National Bank of the Republic of Kazakhstan, determine:
1) the procedure for carrying out the activity of the Anti-Fraud Center and interaction of the Anti-Fraud Center with persons participating in its activity;

2) the procedure for the anti-fraud center to form and maintain databases on events and attempts to carry out payment transactions with signs of fraud and to provide access to them to persons participating in the activities of the anti-fraud center;
3) the procedure and deadlines for refusal and suspension of execution of instructions by financial organizations, payment organizations upon receipt of information from the anti-fraud center about persons associated with payment transactions with signs of fraud;
4) the procedure, forms and deadlines for sending information by financial organizations, payment organizations to the anti-fraud center about all events and (or) attempts to carry out payment transactions with signs of fraud;
5) the procedure and types of provision of a limited list of financial or payment services in case of inclusion of a client in the databases of the anti-fraud center by a financial organization, payment organization, as well as the procedure for a client's appeal to a financial organization, payment organization to obtain a limited list of financial or payment services;
6) the procedure for interaction between bodies of criminal prosecution, national security and law enforcement agencies, financial organizations or payment organizations for the purpose of identifying and preventing other payment transactions that are recognized as illegal and (or) prohibited in accordance with the laws of the Republic of Kazakhstan;
7) the procedure for refunding money to a client indicated in a ruling of a body of criminal prosecution, agreed upon by a prosecutor, recognizing the transaction as fraudulent.

Persons participating in the activities of the anti-fraud center are:
1) financial organizations;
2) payment organizations providing payment services specified in subparagraphs 8) and 9) of paragraph 1 of Article 12 of this Law;
3) mobile network operators;
4) credit bureaus;
5) bodies of criminal prosecution, national security, law enforcement agencies;
6) the National Bank of the Republic of Kazakhstan;
7) the authorized body for regulation, control and supervision of the financial market and financial organizations;
8) the authorized body for financial monitoring;
9) other persons determined by the decision of the National Bank of the Republic of Kazakhstan.

3-1. Financial organizations, payment organizations upon detection of a payment transaction with signs of fraud carry out the following actions:
1) suspend execution of the instruction and (or) outgoing operations on a bank account, electronic wallet or block the amount of the payment and (or) transfer of money for a period of no more than five working days;
2) in the manner established by the contract concluded with the client, provide the client with information about the suspension of execution of the instruction and (or) outgoing operations on the client's bank account, electronic wallet or blocking of the amount of payment and (or) transfer of money, indicating the reasons and grounds;
3) within five working days from the date of suspension of execution of the instruction and (or) outgoing operations on the client's bank account, electronic wallet or blocking of the amount of payment and (or) transfer of money, conduct an analysis of the client's operations, including obtaining additional information from the client necessary to clarify the circumstances and make a decision;
4) in case of failure by the client to provide the requested information within the period of conducting the analysis, block the bank account, electronic wallet until the moment of receiving explanations from the client;

5) if, as a result of the analysis, a decision is made by the financial organization, payment organization not to recognize the transaction as fraudulent, financial organizations, payment organizations execute the suspended payment and (or) transfer of money, resume outgoing operations on the client's bank account, electronic wallet or remove the blocking of the amount of payment and (or) transfer of money, if there are no other grounds provided for by the laws of the Republic of Kazakhstan preventing the conduct of such payment and (or) transfer of money, resumption of outgoing operations on the client's bank account, electronic wallet or removal of blocking of the amount of such payment and (or) transfer of money;
6) in the presence of grounds or confirmation of the client's participation in carrying out a payment transaction with signs of fraud, send a notification through the anti-fraud center to the body of criminal prosecution for subsequent implementation of measures established by the laws of the Republic of Kazakhstan, simultaneously including the client in the database on attempts to carry out payment transactions with signs of fraud.

In case of suspension of outgoing operations on a bank account, electronic wallet under the norms established by this article, the client has the right to appeal to the financial organization, payment organization to obtain a limited list of financial or payment services in accordance with the requirements of the normative legal act of the National Bank of the Republic of Kazakhstan specified in paragraph 2-1 of this article.

The body of criminal prosecution within three working days from the date of receipt of the message (information) from the anti-fraud center informs the financial or payment organization about further actions, including the presence or absence of grounds for carrying out the suspended payment and (or) transfer of money and (or) resumption of outgoing operations on the client's bank account, electronic wallet or removal of blocking of the amount of payment and (or) transfer of money.

Financial or payment organizations in case of non-receipt after the expiration of three working days from the date of notification by the anti-fraud center of the decision of the body of criminal prosecution on further actions carry out the suspended payment and (or) transfer of money, resume outgoing operations on the client's bank account, electronic wallet or remove the blocking of the amount of payment and (or) transfer of money, if there are no other grounds provided for by the laws of the Republic of Kazakhstan preventing the conduct of such payment and (or) transfer of money, resumption of outgoing operations on the client's bank account, electronic wallet or removal of blocking of the amount of such payment and (or) transfer of money.

Bodies of criminal prosecution, national security, law enforcement agencies have the right to use the anti-fraud center for operational interaction with financial or payment organizations for the purpose of identifying and preventing other payment transactions that are recognized as illegal and (or) prohibited in accordance with the laws of the Republic of Kazakhstan.

The procedure for interaction between bodies of criminal prosecution, national security, law enforcement agencies and financial or payment organizations for the purpose of identifying, suppressing and preventing other payment transactions that are recognized as illegal and (or) prohibited in accordance with the laws of the Republic of Kazakhstan is determined by the normative legal act of the National Bank of the Republic of Kazakhstan specified in paragraph 2-1 of this article.

A financial or payment organization upon inclusion of a client in the databases of the anti-fraud center refuses or provides the client with a limited list of financial and (or) payment services.

The procedure and types of provision of a limited list of financial and (or) payment services are established by the normative legal act of the National Bank of the Republic of Kazakhstan specified in paragraph 2-1 of this article.

Financial organizations, payment organizations upon receipt of information from the anti-fraud center about persons associated with payment transactions with signs of fraud refuse or suspend execution of instructions within the time limits and in the manner determined by the normative legal act of the National Bank of the Republic of Kazakhstan specified in paragraph 2-1 of this article.
The anti-fraud center and persons participating in the activities of the anti-fraud center bear responsibility established by the laws of the Republic of Kazakhstan.
A bank, an organization carrying out certain types of banking operations, a payment organization that carried out a payment and (or) transfer of money to the benefit of a beneficiary who was in the database on events of carrying out a payment transaction with signs of fraud of the anti-fraud center at the time of carrying out the payment and (or) transfer of money, bears responsibility to the client and reimburses him money.
Financial organizations, payment organizations are obliged to send information to the anti-fraud center about all events and (or) attempts to carry out payment transactions with signs of fraud in the form, within the time limits and in the manner determined by the normative legal act of the National Bank of the Republic of Kazakhstan specified in paragraph 2-1 of this article.
The anti-fraud center has the right to provide data on payment transactions with signs of fraud, including data relating to banking and other secrets protected by law, to bodies of criminal prosecution, national security and law enforcement agencies in accordance with the laws of the Republic of Kazakhstan.
The anti-fraud center carries out the formation and maintenance of databases on events and attempts to carry out payment transactions with signs of fraud, provides access to them to persons participating in the activities of the anti-fraud center in real-time mode in the manner determined by the normative legal act of the National Bank of the Republic of Kazakhstan specified in paragraph 2-1 of this article.
The anti-fraud center has the right to form and maintain other databases necessary for the implementation of its functions.
The anti-fraud center carries out without the consent of the client the exchange of data with financial organizations, payment organizations, mobile network operators, bodies of criminal prosecution, national security and law enforcement agencies, processing of data on payment transactions with signs of fraud, including information about a client-individual, his individual identification number, bank account number and (or) payment card number, mobile phone subscriber number, identity document, status of stay in the territory of the Republic of Kazakhstan and other information necessary for the identification of the client and payments and (or) transfers of money with his participation, including from databases of national security bodies.
Actions of financial and payment organizations carried out in accordance with this article, including refusal or suspension of execution of the instruction and (or) outgoing operations on the client's bank account, electronic wallet, blocking of money amounts on the client's bank account or electronic wallet, as well as transmission of information constituting banking and other secrets protected by law, are not grounds for attracting financial and payment organizations to responsibility provided for by the laws of the Republic of Kazakhstan, as well as civil-law contracts.

Article 26. Features of carrying out payments and (or) transfers of money by a specialized non-profit organization performing the functions of a central depository for transactions with financial instruments

Payment and (or) transfer of money for a transaction with financial instruments are carried out by a specialized non-profit organization performing the functions of a central depository in accordance with the Law of the Republic of Kazakhstan "On the Securities Market" (hereinafter - central depository), based on a contract concluded between the client and the central depository, on:
1) the client's bank account opened in the central depository or his digital account on the platform of digital tenge, the servicing of which is carried out by the central depository;
2) the correspondent account of the client opened in the National Bank of the Republic of Kazakhstan.
Payment and (or) transfer of money on the client's bank account opened in the central depository are carried out upon registration of a transaction with financial instruments or other operations related to financial instruments listed on bank accounts in the central depository, by forming a payment document by the central depository in accordance with the code of rules of the central depository on the basis of:
1) the client's order for registration of a transaction (operation) with financial instruments in case if the sender of such order provided the central depository with the right to debit money from his bank account based on the client's order for registration of a transaction with financial instruments;
2) the organizer of trading's order for registration of a transaction (operation) with financial instruments in case if the sender of money provided the central depository with the right to debit money from his bank account based on the organizer of trading's order for registration of a transaction with financial instruments;
3) the clearing organization's order for carrying out transfers of money after the clearing session in case if the sender of money provided the central depository with the right to debit money from his bank account based on the clearing organization's order.

Settlements for transactions (operations) with financial instruments may also be carried out using digital tenge on digital accounts opened on the platform of digital tenge of the National Bank of the Republic of Kazakhstan and serviced by the central depository.

For carrying out a payment and (or) transfer of money for a transaction with financial instruments or upon registration of other operations related to financial instruments through a systemically important payment system, the client provides consent to the operator or operational center of the systemically important payment system for debiting money from his correspondent account opened in the National Bank of the Republic of Kazakhstan, when executing a payment document of the central depository in the systemically important payment system.

The central depository sends a payment document to the systemically important payment system in accordance with the code of rules of the central depository on the basis of:
1) the client's order for registration of a transaction (operation) with financial instruments in case if the sender of such order provided the central depository with the right to debit money from his correspondent account based on the client's order for registration of a transaction with financial instruments;
2) the organizer of trading's order for registration of a transaction (operation) with financial instruments in case if the sender of money provided the central depository with the right to debit money from his correspondent account based on the organizer of trading's order for registration of a transaction with financial instruments;
3) the unilateral order of the National Bank of the Republic of Kazakhstan for registration of a transaction (operation) with financial instruments in case of issuance by the National Bank of the Republic of Kazakhstan of a bank loan to participants of the systemically important payment system under collateral of securities.

Article 27. Bank accounts

A bank account is opened upon conclusion between the client and the bank or organization carrying out certain types of banking operations of a bank account agreement, correspondent account agreement and (or) bank deposit agreement.

An agreement concluded upon opening a current or correspondent account or a bank deposit is an agreement concluded upon provision of a payment service specified in paragraph 4 of Article 13 of this Law. It is allowed to establish conditions for provision of payment services in other agreements concluded with the client.

Before concluding a bank account agreement on the basis of the client's application for opening a bank account sent in electronic form, it is allowed for the bank or organization carrying out certain types of banking operations to assign an individual identification code to the client. In this case, the bank account is considered opened after conclusion between the client and the bank or organization carrying out certain types of banking operations of a bank account agreement. In case of non-conclusion of a bank account agreement by the client, the bank annuls the individual identification code in the manner determined by the normative legal act of the National Bank of the Republic of Kazakhstan.

Biometric authentication of clients when establishing business relations remotely by opening a bank account is carried out through the Data Exchange Center of the National Bank of the Republic of Kazakhstan.

The bank and the organization carrying out certain types of banking operations are prohibited from opening:
1) a new bank account to a client in cases where there are presented to his bank account, opened in the bank or organization carrying out certain types of banking operations, decisions and (or) orders of authorized state bodies and officials on suspension of outgoing operations on the bank account, requests of third parties for withdrawal of money from the bank account and (or) attachment of money located on his bank account, provided that the amount of money on the bank account is insufficient for the amount of attachment;
2) a bank account to a taxpayer in default, information about which is transmitted to the bank or organization carrying out certain types of banking operations by the authorized body in the field of ensuring inflows of taxes and other mandatory payments to the budget;
3) an anonymous bank account or a bank account in a fictitious name;
4) a bank account to a client in cases provided for by the Law of the Republic of Kazakhstan "On Counteracting Legalization (Money Laundering) of Income Received by Criminal Means, Financing of Terrorism and Financing of Proliferation of Weapons of Mass Destruction".
The provisions of subparagraphs 1) and 2) of paragraph 2 of this article do not apply to cases of opening:
1) a bank account to a client - an individual intended for crediting benefits, social payments paid from the state budget and (or) the State Fund of Social Insurance, material assistance provided in accordance with subparagraph 1) of paragraph 4 of Article 112 of the Social Code of the Republic of Kazakhstan, or pensions paid from the state budget and (or) the Unified Accumulative Pension Fund, and (or) voluntary accumulative pension fund, one-time pension payments credited from the Unified Accumulative Pension Fund for the purpose of improving housing conditions and (or) paying for treatment, as well as alimony (money intended for maintenance of minor children and incapacitated persons), target savings and (or) payments of target savings from the Unified Accumulative Pension Fund for the purpose of improving housing conditions and (or) paying for education, payments of savings from the educational accumulative deposit or insurance payments under the contract of educational accumulative insurance for improving housing conditions, compensation for material damage and necessary assistance from the state budget and (or) from charitable organizations due to a natural or technogenic emergency situation;
2) a bank account in a housing construction savings bank possessing the status of a national development institute, intended for crediting payments and subsidies for the purpose of paying for rented housing in the private housing stock.

Refusal by the bank or organization carrying out certain types of banking operations to open a bank account is allowed in the framework of fulfillment of conditions of contracts with banks-non-residents of the Republic of Kazakhstan and (or) international treaties ratified by the Republic of Kazakhstan.

Bank accounts are divided into current and savings accounts of clients, as well as correspondent accounts of banks and organizations carrying out certain types of banking operations.
Operations related to the following are performed on the client's current account:
1) ensuring the availability and use by the bank of the client's money;
2) acceptance (crediting) of money to the benefit of the client;
3) execution of the client's instruction for transfer of money to the benefit of third parties in the manner provided for by the bank account agreement;
4) execution of instructions of third parties for withdrawal of the client's money on grounds provided for by the laws of the Republic of Kazakhstan and (or) the bank account agreement;
5) acceptance from the client and issuance to him of cash money in the manner and on terms provided for by the said agreement and this Law;
6) excluded in accordance with the Law of RK of 02.07.18 No. 168-VI (entered into force from January 1, 2019)
7) providing at the client's request information about the amount of the client's money in the bank and operations carried out in the manner and time limits provided for by the bank account agreement;
8) carrying out any other banking services for the client provided for by the bank account agreement, legislation of the Republic of Kazakhstan and customs of business turnover applied in banking practice.
Operations related to the following are performed on the client's savings account:
1) ensuring the availability and use by the bank of money belonging to the client;
2) acceptance from the client or third parties of money both in cash and non-cash manner;
3) payment of remuneration in the amount and manner determined by the bank deposit agreement;
4) return of money to the client on terms provided for by the bank deposit agreement and laws of the Republic of Kazakhstan, including by transferring it to another bank account of the client;
5) execution of instructions of third parties for withdrawal of the client's money on grounds provided for by the laws of the Republic of Kazakhstan and (or) the bank account agreement.
Operations related to the following are performed on the correspondent account of a bank or organization carrying out certain types of banking operations:
1) acceptance (crediting) of money coming to the benefit of the bank or organization carrying out certain types of banking operations or its (their) clients;
2) execution of the instruction of the bank or organization carrying out certain types of banking operations for transfer of money to the bank or organization carrying out certain types of banking operations, or to the benefit of third parties for the purpose of fulfilling the obligations of the bank or organization carrying out certain types of banking operations, or its (their) clients;
3) acceptance and issuance of cash money from the correspondent account to the bank or organization carrying out certain types of banking operations in the manner and on terms provided for by the said agreement and this Law;

4) provision of other services provided for by the correspondent account agreement.
Correspondent accounts are opened between banks, as well as between banks and banks - participants of the International Financial Center "Astana", between banks and organizations carrying out separate types of banking operations, between banks and financial organizations - non-residents of the Republic of Kazakhstan.
The features of opening and maintaining correspondent accounts by banks with banks - participants of the International Financial Center "Astana", including currency and the list of operations, are established by a normative legal act of the National Bank of the Republic of Kazakhstan.
The size of the limit for payments and money transfers via correspondent accounts of banks, branches of banks - non-residents of the Republic of Kazakhstan, and organizations carrying out separate types of banking operations is established by a normative legal act of the National Bank of the Republic of Kazakhstan.
7-1. The issuance of cash from bank accounts is carried out in accordance with the rules for withdrawal of cash by business entities from bank accounts and within the amount determined by a joint act of the National Bank of the Republic of Kazakhstan and the authorized body for state planning, if a smaller amount is not provided for by the bank account agreement and is not established by the subject of financial monitoring in accordance with the requirements of the legislation of the Republic of Kazakhstan on combating the legalization (laundering) of proceeds obtained criminally, financing of terrorism and financing of the proliferation of weapons of mass destruction.
8. Accounts that do not involve operations specified in paragraphs 5, 6, and 7 of this Article, as well as reflecting accounting positions in a bank or organization carrying out separate types of banking operations, personal accounts (sub-items) that are components of a balance sheet account, including loan accounts, are not considered bank accounts.
9. Opening a bank account for a client in "escrow account" mode is permitted.
In cases where the person on whose name the escrow account is opened fails to fulfill the conditions defined by the client, and the term for occurrence or fulfillment of such conditions expires according to the bank account agreement, the bank returns the money to the client who opened the escrow account.
Attachment and recovery against funds held in an escrow account are not permitted except by judicial act in a case related to the conditions of the escrow account agreement.
10. In the event of recovery against clients' funds held in a bank or organization carrying out separate types of banking operations, such recovery is carried out only from the clients' bank accounts.
Recovery against funds held in correspondent accounts of banks or organizations carrying out separate types of banking operations is carried out only for obligations of the banks or organizations themselves carrying out separate types of banking operations.
Recovery is not permitted:
1) against funds held in bank accounts intended for crediting pensions and social payments paid from the state budget and/or the State Social Insurance Fund, material assistance provided in accordance with subparagraph 1) of paragraph 4 of Article 112 of the Social Code of the Republic of Kazakhstan;
1-1) against funds held in bank accounts intended for crediting compensation for material damage and provision of necessary assistance from the state budget and/or from charitable organizations to individuals affected by natural or technogenic emergencies;
2) against funds held in bank accounts intended for crediting housing payments, one-time pension payments from the Unified Accumulative Pension Fund for the purpose of improving housing conditions and/or payment for treatment, target assets, payments of targeted accumulations from the Unified Accumulative Pension Fund for the purpose of improving housing conditions and/or payment for education, payments of accumulations from the educational accumulation deposit or insurance payments under the contract of educational accumulation insurance for improving housing conditions;
2-1) against funds held in bank accounts in housing construction savings banks in the form of housing construction savings accumulated through the use of housing payments, one-time pension payments from the Unified Accumulative Pension Fund for the purpose of improving housing conditions and/or payment for treatment, in the form of payments of targeted accumulations from the Unified Accumulative Pension Fund for the purpose of improving housing conditions and/or payment for education, in the form of payments of accumulations from the educational accumulation deposit or insurance payments under the contract of educational accumulation insurance for improving housing conditions, against funds held in bank accounts in second-tier banks in the form of accumulations for capital repair of common property of a condominium object, except for recoveries based on court decisions in cases of non-fulfillment of obligations under contracts concluded for the purpose of carrying out capital repair of common property of a condominium object; Funds held in bank accounts in housing construction savings banks and second-tier banks, in accordance with this subparagraph, are subject to separate accounting by opening separate personal accounts (sub-items); 2-2) against funds held in a bank account in a housing construction savings bank holding the status of a national development institute, intended for crediting payments and subsidies for payment for rented housing in the private housing fund; 2-3) against funds held in bank accounts in housing construction savings banks in the form of housing construction savings that are the subject of pledge for issued bank loans;
3) against funds deposited under the conditions of a notary's deposit;
4) against funds held in bank accounts under an agreement on an educational accumulation deposit concluded in accordance with the Law of the Republic of Kazakhstan "On the State Educational Accumulation System";
5) against assets of the social medical insurance fund and transfers allocated for the guaranteed volume of free medical care held in bank accounts;
5-1) against funds held in bank accounts intended for accounting of funds of clients of an investment portfolio manager, for unfulfilled obligations of said investment portfolio manager; 5-2) against funds held in bank accounts intended for accounting of funds of clients of a person performing the functions of a nominal holder, for unfulfilled obligations of said person performing the functions of a nominal holder; 5-3) against funds held in bank accounts for carrying out clearing activities on transactions with financial instruments;
6) against funds held in bank accounts intended for crediting compensation for investment costs in accordance with the legislation of the Republic of Kazakhstan on public-private partnership;
7) against clients' funds held in bank accounts intended for crediting alimony (funds intended for maintenance of minor children and incapacitated persons), for bank loans based on payment demands;
8) against funds held in the current account of a private judicial executor intended for storing recovered amounts in favor of claimants;
9) against funds held in savings accounts that are the subject of pledge for issued bank loans, up to the amount of the unpaid principal debt on such bank loans based on payment demands;
10) against funds held in the bank account of the single operator in the field of state procurement intended for submission by potential suppliers or suppliers of money as security measures in participation in state procurements in accordance with the Law of the Republic of Kazakhstan "On State Procurement";
11) against funds held in the bank account of a citizen regarding whom a case on the application of a procedure or a procedure has been initiated in accordance with the Law of the Republic of Kazakhstan "On Restoration of Solvency and Bankruptcy of Citizens of the Republic of Kazakhstan";
12) against funds held in the current account of a financial manager for crediting funds in the procedure of judicial bankruptcy in accordance with the Law of the Republic of Kazakhstan "On Restoration of Solvency and Bankruptcy of Citizens of the Republic of Kazakhstan";
13) against funds and/or securities of banks in the central depository and/or clearing organization intended to ensure the completion of settlements on interbank payments and/or money transfers carried out on the territory of the Republic of Kazakhstan using payment cards.
The provision of subparagraph 6) of part three of this paragraph does not apply to the extraction of funds according to claims relating to the first, second, and third queues in accordance with the priority provided for in paragraph 2 of Article 742 of the Civil Code of the Republic of Kazakhstan.
11. Suspension of outgoing operations on a bank account of a money sender based on corresponding decisions and/or orders of authorized state bodies or officials on suspension of outgoing operations on a bank account, or information from the authorized body about organizations and individuals included in the list of organizations and individuals associated with financing of terrorism and extremism, and/or in the list of organizations and individuals associated with financing of proliferation of weapons of mass destruction, as well as the list of persons involved in terrorist activity, as well as temporary restriction on disposal of property based on acts on temporary restriction on disposal of property, attachment of funds held in a bank account of a money sender, based on acts on attachment of funds of a client, are carried out in the order and cases provided for by the laws of the Republic of Kazakhstan.
Attachment, suspension of outgoing operations, temporary restriction on disposal of property, restrictions on making transactions and other operations with property, on bank accounts intended for crediting pensions and social payments paid from the state budget and/or the State Social Insurance Fund, alimony (funds intended for maintenance of minor children and incapacitated persons), compensation for material damage and provision of necessary assistance from the state budget and/or from charitable organizations to individuals affected by natural or technogenic emergencies, material assistance provided in accordance with subparagraph 1) of paragraph 4 of Article 112 of the Social Code of the Republic of Kazakhstan, housing payments, one-time pension payments from the Unified Accumulative Pension Fund for the purpose of improving housing conditions and/or payment for treatment, target assets, payments of targeted accumulations from the Unified Accumulative Pension Fund for the purpose of improving housing conditions and/or payment for education, payments of accumulations from the educational accumulation deposit or insurance payments under the contract of educational accumulation insurance for improving housing conditions, funds held in bank accounts in housing construction savings banks in the form of housing construction savings accumulated through the use of housing payments, one-time pension payments from the Unified Accumulative Pension Fund for the purpose of improving housing conditions and/or payment for treatment, in the form of payments of targeted accumulations from the Unified Accumulative Pension Fund for the purpose of improving housing conditions and/or payment for education, funds held in bank accounts in housing construction savings banks in the form of housing construction savings that are the subject of pledge for issued bank loans, in the form of payments of accumulations from the educational accumulation deposit or insurance payments under the contract of educational accumulation insurance for improving housing conditions, funds held in a bank account in a housing construction savings bank holding the status of a national development institute intended for crediting payments and subsidies for payment for rented housing in the private housing fund, funds held in bank accounts in second-tier banks in the form of accumulations for capital repair of common property of a condominium object, except for recoveries based on court decisions in cases of non-fulfillment of obligations under contracts concluded for the purpose of carrying out capital repair of common property of a condominium object, funds held in bank accounts intended for crediting compensation for investment costs, as well as funds deposited under the conditions of a notary's deposit, funds held in bank accounts under an agreement on an educational accumulation deposit concluded in accordance with the Law of the Republic of Kazakhstan "On the State Educational
Accumulation System", assets of the social medical insurance fund and transfers allocated for the guaranteed volume of free medical care held in bank accounts, funds held in bank accounts intended for accounting of funds of clients of an investment portfolio manager, for unfulfilled obligations of said investment portfolio manager, funds held in bank accounts intended for accounting of funds of clients of a person performing the functions of a nominal holder, for unfulfilled obligations of said person performing the functions of a nominal holder, funds held in bank accounts for carrying out clearing activities on transactions with financial instruments, funds of banks, insurance (reinsurance) organizations, voluntary accumulation pension funds, deprived of a license by the authorized state body and/or undergoing forced liquidation, funds held in the current account of a private judicial executor intended for storing recovered amounts in favor of claimants, funds held in the bank account of the single operator in the field of state procurement intended for submission by potential suppliers or suppliers of money as security measures in participation in state procurements in accordance with the Law of the Republic of Kazakhstan "On State Procurement", funds and/or securities of banks in the central depository and/or clearing organization intended to ensure the completion of settlements on interbank payments and/or money transfers carried out on the territory of the Republic of Kazakhstan using payment cards, funds of branches of banks - non-residents of the Republic of Kazakhstan, branches of insurance (reinsurance) organizations - non-residents of the Republic of Kazakhstan, deprived of a license by the authorized state body and undergoing forced cessation of activities, are not subject to attachment, suspension of outgoing operations, temporary restriction on disposal of property, restrictions on making transactions and other operations with property. The provision of part two of this paragraph does not apply to restrictions imposed by the authorized body in the field of ensuring execution of executive documents and its territorial bodies on suspension of outgoing operations on the current account intended for storing recovered amounts in favor of claimants of a private judicial executor, whose license is suspended or terminated or who has been deprived of a license or excluded from the members of the Republican Chamber.

12. Outgoing operations on a client's bank account are resumed after the withdrawal by the authorized state body or official of the decision and/or order on suspension of outgoing operations on a bank account, the act on temporary restriction on disposal of property, as well as in the order determined by the Criminal Procedure Code of the Republic of Kazakhstan, the laws of the Republic of Kazakhstan "On Combating the Legalization (Laundering) of Proceeds Obtained Criminally, Financing of Terrorism and Financing of Proliferation of Weapons of Mass Destruction" and "On Rehabilitation and Bankruptcy".
A bank or organization carrying out separate types of banking operations resumes outgoing operations on a client's bank account(s) before the withdrawal by the authorized body in the field of ensuring receipt of taxes and other mandatory payments to the budget of the order on suspension of outgoing operations on bank accounts in the case of the client paying off the amount of tax debt indicated in the order of the authorized body in the field of ensuring receipt of taxes and other mandatory payments to the budget on suspension of outgoing operations on bank accounts. The attachment placed on funds held in a client's bank account is lifted based on the corresponding written notification of the person having the right to attach the client's funds about the cancellation of the previously adopted act on attachment of funds, based on rulings of persons and in cases provided for by the Law of the Republic of Kazakhstan "On Enforcement Proceedings and Status of Judicial Executors", or after the bank executes the cashier's order presented for execution of the previously placed attachment on funds held in a bank account. The money sender's bank returns without execution unexecuted demands to the bank account, acts on temporary restriction on disposal of property, decisions and/or orders of authorized state bodies or officials on suspension of outgoing operations on a client's bank account, as well as acts of persons having the right to attach the client's funds on attachment of funds held in a client's bank account, upon closure of the client's bank account in the order determined by this Law.
13. The procedure for actions of a bank and an organization carrying out separate types of banking operations upon receipt of an act on temporary restriction on disposal of property, decisions and/or orders of authorized state bodies or officials on suspension of outgoing operations on a bank account, acts on attachment of funds held in a client's bank account, is determined by a normative legal act of the National Bank of the Republic of Kazakhstan.
Article 28. Closure of a bank account
1. Closure of a client's bank account is carried out upon the client's application or independently by the bank or organization carrying out separate types of banking operations, in cases of termination of action or refusal to perform the bank account agreement, bank deposit agreement in the order provided for in Article 29 of this Law.
Closure of a bank account upon the client's application is not permitted in the presence of unexecuted demands presented to the bank account, provided for in paragraph 3 of Article 29 of this Law.
2. Actions of the bank account agreement and bank deposit agreement cease in the case of cessation of activities of the client - legal entity due to its liquidation.
The bank or organization carrying out separate types of banking operations carries out closure of the client - legal entity's bank account based on entered information about cessation of activities of the legal entity into the National Register of Business Identification Numbers.

Article 29. Grounds and procedure for unilateral refusal to perform the bank account agreement or bank deposit agreement

A bank or organization carrying out separate types of banking operations has the right to refuse to perform the bank account agreement or bank deposit agreement in the following cases:
1) absence of funds in the client's bank account for more than one year;
2) absence of movement of funds in the client's bank account (except for savings accounts, accounts intended for crediting pensions, social payments paid from the state budget and/or the State Social Insurance Fund, or pensions paid from the state budget and/or the Unified Accumulative Pension Fund, and/or voluntary accumulation pension fund, as well as alimony (funds intended for maintenance of minor children and incapacitated persons)) for more than one year;
3) provided for in agreements with banks - non-residents of the Republic of Kazakhstan.
A bank or organization carrying out separate types of banking operations refuses to perform the bank account agreement or bank deposit agreement on grounds and in the order provided for by this Law and the Law of the Republic of Kazakhstan "On Combating the Legalization (Laundering) of Proceeds Obtained Criminally, Financing of Terrorism and Financing of Proliferation of Weapons of Mass Destruction".
Unilateral refusal to perform the bank account agreement or bank deposit agreement by a bank or organization carrying out separate types of banking operations is not permitted in the presence of:
1) unexecuted demands to the bank account or unsuspended acts on temporary restriction on disposal of property, decisions and/or orders of authorized state bodies and/or officials on suspension of outgoing operations on a bank account, as well as acts on attachment of funds held in a client's bank account;
2) unexecuted demands under a foreign exchange contract providing for export (import), submitted by the client to the bank or organization carrying out separate types of banking operations, in accordance with the foreign exchange legislation of the Republic of Kazakhstan.
In the presence of conditions provided for in subparagraph 1) of paragraph 3 of this Article, closure of a client's bank account by a bank or organization carrying out separate types of banking operations is permitted in the case of unilateral refusal to perform the bank account agreement or bank deposit agreement in the absence of funds in the client's bank account for more than one year and/or liquidation of the client - legal entity.
In the presence of conditions provided for in subparagraph 2) of paragraph 3 of this Article, closure of a client's bank account by a bank or organization carrying out separate types of banking operations is permitted in the case of unilateral refusal to perform the bank account agreement or bank deposit agreement in accordance with the Law of the Republic of Kazakhstan "On Combating the Legalization (Laundering) of Proceeds Obtained Criminally, Financing of Terrorism and Financing of Proliferation of Weapons of Mass Destruction" or international treaties ratified by the Republic of Kazakhstan.
A bank or organization carrying out separate types of banking operations sends a notification of refusal to perform the bank account agreement or bank deposit agreement to the address available to the bank or organization carrying out separate types of banking operations, in electronic form or by mail with acknowledgment of receipt.

if no other procedure is provided for by the bank account agreement or the bank deposit agreement.

In the absence of funds in the client's bank account, the bank or the organization carrying out certain types of banking operations, after the expiration of three months from the date of notification to the client of the refusal to perform the bank account agreement or the bank deposit agreement, terminates the bank account agreement or the bank deposit agreement and closes the client's bank account, if no other procedure is provided for by the bank account agreement or the bank deposit agreement.
Relevant acts on temporary restrictions on the disposal of property, decisions and (or) orders of authorized state bodies and (or) officials on suspending expenditure operations on a bank account, as well as acts of persons having the right to seize funds located in a bank account, within five working days after the closure of the bank account in accordance with paragraph 4 of this Article, shall be returned by the bank or the organization carrying out certain types of banking operations to the persons who submitted these requirements.
In the presence of a balance of funds in the client's bank account (with the exception of accounts intended for the crediting of benefits, social payments paid from the state budget and (or) the State Fund of Social Insurance, or pensions paid from the state budget and (or) the unified accumulated pension fund, and (or) voluntary accumulated pension fund, as well as alimony (funds intended for the maintenance of minor children and incapacitated persons)), the bank or the organization carrying out certain types of banking operations has the right to transfer the balance of funds to the deposit of a notary in accordance with the laws of the Republic of Kazakhstan and close the bank account.
The size of the commission charged by the bank for maintaining a bank account in the cases provided for by this Article shall not exceed the maximum size of the commission charged by the bank for maintaining a bank account for other clients.
In the event of a unilateral refusal to perform the bank account agreement or the bank deposit agreement, the bank pays remuneration on the date of unilateral refusal to perform the specified agreements, taking into account the conditions on remuneration established in the agreements themselves.
The rules of this Article apply to correspondent account agreements and digital account agreements, unless otherwise provided for by the laws of the Republic of Kazakhstan and normative legal acts of the National Bank of the Republic of Kazakhstan.

Chapter 6. PAYMENT INSTRUMENTS

Article 30. Types of Payment Instruments

The following types of payment instruments are used on the territory of the Republic of Kazakhstan for making payments and (or) money transfers:

1) payment order;
2) payment demand;
3) check;
4) bill of exchange;
5) collection order;
6) payment voucher;
7) payment notice;
8) electronic payment instrument.

Article 31. Payment Order

The rights and obligations between the sender of funds and the sender's bank related to the use of a payment order are established in the agreement between them, and their actual implementation arises from the moment the payment order is presented to the sender's bank.
The payment order is accepted by the sender's bank within ten calendar days from the date of issue indicated in it. The payment order may indicate a value date.
When making a payment and (or) money transfer from one sender of funds to several beneficiaries serviced in one bank or one organization carrying out certain types of banking operations, or when the sender's bank executes instructions of several senders of funds in favor of one beneficiary, the use of a consolidated payment order is permitted.
A registry of persons - senders of funds or beneficiaries is attached to a consolidated payment order formatted on a paper carrier, in the manner determined by a normative legal act of the National Bank of the Republic of Kazakhstan.

Article 32. Payment Demand

The rights and obligations in payments using a payment demand arise from the moment it is presented to the sender's bank.
The payment demand is presented to the beneficiary's bank or the sender's bank within ten calendar days from the date of issue indicated in it, except for cases of its presentation in the manner provided for by Article 26 of this Law.
The beneficiary's right to present a payment demand is established in the agreement between the sender of funds and the sender's bank, except for cases of presentation by banks, the organization specializing in improving the quality of credit portfolios of second-tier banks, by assigned rights to claims under bank loan agreements, mortgage organizations, organizations carrying out lending to subjects of the agro-industrial complex, one hundred percent of the voting shares of which directly or indirectly belong to the national management holding, a payment demand for the collection of overdue debt on a loan.
For the collection of overdue debt on a loan in accordance with a concluded loan agreement, an agreement on the opening of a credit line, or any other document confirming the fact of a borrowing operation or the issuance of a guarantee, the use of a payment demand is permitted by banks, the organization specializing in improving the quality of credit portfolios of second-tier banks, by assigned rights to claims under bank loan agreements, mortgage organizations, organizations carrying out lending to subjects of the agro-industrial complex, one hundred percent of the voting shares of which directly or indirectly belong to the national management holding. The payment demand is presented by banks, the organization specializing in improving the quality of credit portfolios of second-tier banks, by assigned rights to claims under bank loan agreements, mortgage organizations, organizations carrying out lending to subjects of the agro-industrial complex, one hundred percent of the voting shares of which directly or indirectly belong to the national management holding, to the sender's bank on the basis of a document containing the sender's consent to the withdrawal of funds from his bank account.

The procedure for presenting a payment demand for the collection of overdue debt on a loan, as well as the requirement to attach copies of documents confirming the justification of the withdrawal of funds, is determined by a normative legal act of the National Bank of the Republic of Kazakhstan.

The sending of electronic copies of documents confirming the justification of the withdrawal of funds through electronic communication channels established between banks is permitted.

The collector bears responsibility for the justification of presenting a payment demand for the collection of overdue debt on a loan.

The payment demand is executed by the bank or the organization carrying out certain types of banking operations by direct debit of the sender's bank account in the presence of the sender's consent to the withdrawal of funds from his bank account, contained in:

1) an agreement concluded between the sender of funds and the sender's bank;
2) a loan agreement, an agreement on the opening of a credit line, or any other document confirming the fact of a borrowing operation or the issuance of a guarantee.

The execution of a payment demand for the collection of overdue debt on a loan by direct debit of the sender's bank account, in case of insufficient funds in his bank account, is carried out as funds are credited to the bank account.

A payment demand presented to the current account of the sender of funds - a natural person, in the manner provided for by paragraph 4 of this Article, is executed by direct debit of his current account within fifty percent of the amount of funds located in it, and (or) from each amount of funds credited to the bank account of the sender of funds - a natural person from a legal entity or individual entrepreneur, without waiting for the entire amount specified in the payment demand to be credited.

The amount of funds retained in the current account or in aggregate in the current accounts of a natural person or individual entrepreneur, if the natural person is registered as an individual entrepreneur carrying out activity in the form of personal entrepreneurship, opened in one bank, when executing a payment demand, must be not less than double the size of the subsistence minimum established for the corresponding financial year by the law on the republican budget.

This restriction does not apply to funds located in the savings account of the borrower - a natural person or individual entrepreneur, if the natural person is registered as an individual entrepreneur carrying out activity in the form of personal entrepreneurship.

Article 33. Check

The rights and obligations of the drawer and the bank related to the use of a check arise on the basis of an agreement on the use of checks between the drawer and the bank. The rights of the payee arise from the moment of receiving the check from the drawer.
The check is accepted by the payee and presented by the payee to the drawer's bank or to the payee's bank within the time limits established by a normative legal act of the National Bank of the Republic of Kazakhstan.
The issuance of a check by the drawer is not the completion of the payment for which such a check was issued. The final execution of the monetary obligation of the drawer occurs at the moment the payee receives the money by check.
The payee has the right to a monetary claim against the drawer's bank in the amount specified in the check. The drawer's bank pays the check presented by the payee or motivates its refusal to pay on the grounds provided for by a normative legal act of the National Bank of the Republic of Kazakhstan.
Checks are divided into covered and uncovered. Uncovered are checks that were not previously secured by funds. Covered are checks that are secured by funds previously deposited by the drawer in the bank.

Article 34. Bill of Exchange

The use of bills of exchange for making non-cash payments and (or) money transfers is regulated by the bill legislation of the Republic of Kazakhstan.

Article 35. Collection Order

The withdrawal of funds from a client's bank account without his consent is carried out using a collection order on the grounds and taking into account the order of priority provided for by the laws of the Republic of Kazakhstan, in the manner determined by a normative legal act of the National Bank of the Republic of Kazakhstan.
The rights and obligations of the participant in the payment and (or) money transfer arise from the moment the collection order is presented to the sender's bank.
The collection order is presented by the bodies of state revenues, bailiffs, as well as the territorial body of justice through the state automated digital system of enforcement proceedings.
The collection order of bailiffs is presented to the sender's bank with copies of enforcement documents on a paper carrier or in electronic form confirming the justification of this collection on the basis of norms provided for by the laws of the Republic of Kazakhstan.

The collection order of the territorial body of justice, formed in the state automated digital system of enforcement proceedings, is sent to the sender's bank in electronic form with enforcement documents confirming the collection on the basis of norms provided for by the laws of the Republic of Kazakhstan.

An enforcement document confirming the justification of the withdrawal of funds from the sender's bank account without his consent is the basis for presenting to the bank or the organization carrying out certain types of banking operations only one collection order of a bailiff or the territorial body of justice, formed in the state automated digital system of enforcement proceedings, unless otherwise established in the text of the enforcement document, or the collection of funds is carried out on the basis of a tax order for the collection of debt of a natural person, in which the amounts of tax arrears and the amounts of penalties to be collected by separate collection orders are specified. In this case, the amounts specified in the collection orders must in aggregate correspond to the amount specified in the tax order.

The amount of payment and (or) money transfer specified in the enforcement document (if present) must coincide with the amount specified in the collection order, except for cases when:

1) the debtor has independently made a partial payment of the debt and there is a mark of the bailiff about this in the enforcement document;
2) joint collection of debt in favor of several beneficiaries is carried out on the basis of one enforcement sheet;
3) the amount of debt on the enforcement document for the collection of periodic payments is determined by the ruling of the bailiff;
4) the collection of the amount of tax arrears and the amount of penalties is carried out by separate collection orders on the basis of a tax order for the collection of debt of a natural person.

Collection orders of the bodies of state revenues are presented without attaching documents confirming the justification of this collection.

Collection orders of the bodies of state revenues are presented to banks or organizations carrying out certain types of banking operations with the appropriate lists determined by the legislation of the Republic of Kazakhstan on pension provision, mandatory social insurance, mandatory social medical insurance, for the collection of debt on:

mandatory pension contributions, mandatory professional pension contributions, social deductions;

contributions and (or) payments for mandatory social medical insurance;

mandatory employer pension contributions.

The collection order indicates the purpose of the payment and a reference to the norm of the law of the Republic of Kazakhstan providing for the right to withdraw funds from the sender's bank account without his consent.
The execution of collection orders of the bodies of state revenues on the collection of tax debt, bailiffs, and the territorial body of justice, formed in the state automated digital system of enforcement proceedings, on enforcement documents in case of insufficient funds in the sender's bank account is carried out as funds are credited to such account no later than three operational days following the date of their crediting.
The initiator of the collection order bears responsibility for the justification of the withdrawal of funds from the sender's bank account without his consent. Banks and organizations carrying out certain types of banking operations do not consider on the merits objections of senders of funds against the deduction of funds from bank accounts without their consent.

Article 36. Payment Voucher

Non-cash payment and (or) money transfer between the sender of funds and the sender's bank, including when the sender's bank and the beneficiary are the same person, as well as in cases provided for by a normative legal act of the National Bank of the Republic of Kazakhstan, are carried out on the basis of a payment voucher.
The name of the bank (sender's bank and beneficiary's bank) or the organization carrying out certain types of banking operations in the payment voucher may be indicated once.

Article 37. Payment Notice

A payment notice is used for making non-cash payments and (or) money transfers without opening a bank account of the sender of funds.
The procedure for presenting and executing payment notices is determined by a normative legal act of the National Bank of the Republic of Kazakhstan.
When making payments and (or) money transfers without opening a bank account through electronic terminals, the sender of funds is issued a receipt, the details of which are established by a normative legal act of the National Bank of the Republic of Kazakhstan.

Article 38. Electronic Payment Instrument

The use of an electronic payment instrument is carried out in the manner determined by this Law and normative legal acts of the National Bank of the Republic of Kazakhstan.
Payment and (or) money transfer for operations using an electronic payment instrument are carried out on the basis of the consent of the holder of the electronic payment instrument, confirmed by means of an identification instrument.
The procedure and method of providing and confirming the consent of the holder of the electronic payment instrument when making a payment and (or) money transfer are established by the agreement concluded between the bank-issuer of the electronic payment instrument and the holder of the electronic payment instrument.

Chapter 7. PAYMENT CARD

Article 39. Issuance and Use of Payment Card

The issuance of payment cards on the territory of the Republic of Kazakhstan is carried out by providers of payment services of the Republic of Kazakhstan having the right to issue a payment card. The issuance and use of payment cards are carried out on the basis of an agreement concluded between the issuer of the payment card and the holder of the payment card.

The issuer of the payment card has the right to jointly with other organizations issue payment cards for providing their holders with payment and other types of services in the manner and on the conditions of agreements concluded between them.

The method of concluding and the conditions of the agreement on the basis of which the issuance and use of payment cards are carried out are established by a normative legal act of the National Bank of the Republic of Kazakhstan.

1-1. The National Bank of the Republic of Kazakhstan determines the procedure for the issuance of payment cards, as well as the requirements for activities related to the servicing of operations with their use on the territory of the Republic of Kazakhstan.

The issuer of the payment card notifies the National Bank of the Republic of Kazakhstan about the issuance of payment cards in the manner determined by a normative legal act of the National Bank of the Republic of Kazakhstan.
Before concluding an agreement with the holder of the payment card on the use of the payment card, the issuer of the payment card is obliged to inform the holder of the payment card about the conditions and security measures when using the payment card, methods of submitting complaints and the procedure for their consideration.
Deleted in accordance with the Law of the Republic of Kazakhstan of December 30, 2020 No. 397-VI
The issuer of the payment card places information on the types and conditions of issuing payment cards, the standard agreement on the issuance of a payment card, information on security measures when using the payment card on its Internet resource.
The issuer of the payment card notifies the holder of the payment card about the size of the commission charged for the maintenance of the payment card or the accrual of debt in case of non-payment, as well as ensures providing the holder of the payment card with confirmation of the fact of payment by the holder of the payment card of the commission for the maintenance of his payment card in the manner provided for by the agreement between them.

Article 39-1. Operations with Payment Cards

Operations with payment cards include:

1) issuance of a payment card, payments and (or) money transfers using a payment card or its details, including operations related to the receipt of cash, currency exchange and (or) other operations determined by the issuer of the payment card;

2) payments and (or) money transfers using a bank account, access to which is ensured by means of a payment card, including using an alternative identifier;

3) technological support of operations with payment cards, including collection, processing, storage of data, authentication of payment participants and sending information to settlement participants on operations specified in subparagraphs 1) and 2) of this paragraph;

4) clearing and settlement between participants in the operations specified in subparagraphs 1) and 2) of this paragraph;

5) payment of commissions for services specified in subparagraphs 1), 2), 3) and 4) of this paragraph, as well as commissions between the participant and the operator of the payment system, between participants of the payment system providing processing of operations on payment cards.

Article 40. Payments and (or) Money Transfers Using a Payment Card

Payment and (or) money transfer using a payment card are carried out in the manner determined by a normative legal act of the National Bank of the Republic of Kazakhstan.
The rights and obligations of the participants in the payment and (or) money transfer related to the use of payment cards arise from the moment of giving consent by an individual

by an individual entrepreneur or legal entity for accepting a payment made using the presented payment card.
An individual entrepreneur or legal entity acquires the right to a monetary claim against the bank that entered into an agreement with them for servicing payment cards, in the amount of the payment accepted by them. The specified bank incurs an obligation to fulfill the monetary claim of the individual entrepreneur or legal entity.

Individual entrepreneurs and legal entities are obliged, when accepting payments using payment cards, to sell goods (works, services) at a price not exceeding the price of their sale upon payment in cash.
The issuer of the payment card notifies the holder of the payment card about operations using the payment card in cases and in the manner provided for by the agreement between them.
The method and frequency of sending such notification, as well as the size and procedure for charging the issuer of the payment card commission for notifying the holder of the payment card about operations using the payment card, are established in the agreement between the issuer of the payment card and the holder of the payment card.
The issuer of the payment card must ensure the possibility of round-the-clock notification by the holder of the payment card about the loss of the payment card and/or unauthorized use of the payment card.
Upon discovering the fact of loss of the payment card or unauthorized use of the payment card, the holder of the payment card notifies the issuer of the payment card about this in the manner established by the agreement between them. Based on the notification from the holder of the payment card, the issuer of the payment card blocks his payment card.
To compensate for an unauthorized operation, the holder of the payment card submits an application to the issuer of the payment card in the form established by the issuer of the payment card, except in cases where the issuer of the payment card independently reimbursed the money for the unauthorized operation in accordance with the agreement with the holder of the payment card.
The issuer of the payment card is liable for unauthorized operations if they are committed after receiving notification from the holder of the payment card about the loss of the payment card and/or unauthorized use of the payment card.
Based on the application from the holder of the payment card for compensation of an unauthorized operation, the issuer of the payment card takes measures to establish the fact of the unauthorized payment and within fifteen calendar days from the date of receipt of such application reimburses him the amount of money in the amount of the unauthorized operation or sends a notification of refusal to compensate for the unauthorized operation indicating the reason in the manner provided for by the agreement between them.
In case of the need for additional study by obtaining information from third parties or conducting an inspection, the issuer of the payment card considers the application of the holder of the payment card and makes a decision on it within thirty calendar days for operations within the Republic of Kazakhstan or sixty calendar days for operations carried out abroad, and notifies the holder of the payment card in the manner established by the agreement between them. Refusal by the issuer of payment cards to compensate for an unauthorized operation is carried out in the presence of grounds, signs or facts confirming the violation by the holder of the payment card of the rules for using the payment card or his participation in fraudulent operations using his payment card.
The holder of the payment card bears all risks associated with the loss of the payment card or unauthorized use of the payment card in case of failure to notify the issuer of the payment card about the loss of the payment card or unauthorized use of the payment card.
The issuer of the payment card is obliged to provide the holder of the payment card with documents and information related to the use of his payment card in the manner determined by the agreement.
The issuer of the payment card records notifications sent to the holder of the payment card and received from him, as well as stores the corresponding information for at least three years from the date of their sending and receipt.
The issuer of the payment card considers appeals from the holder of the payment card, including in case of dispute situations arising from the use of the payment card or its details, within the time limit established by the agreement, but no more than thirty calendar days from the date of receipt of such applications, as well as no more than forty-five calendar days from the date of receipt of applications in case of using the payment card abroad. Information about the results of consideration of applications, including in written form (at the request of the holder of the payment card), is sent to the holder of the payment card.
The use of the payment card by its holder is suspended or terminated by the issuer of the payment card based on the received notification from the holder or at the initiative of the issuer in case of violation by the holder of the order of using the payment card in accordance with the agreement.
Suspension or termination of the use of the payment card by the holder of the payment card does not terminate the obligations of the holder of the payment card and the issuer arising before the moment of suspension or termination of such use.

Article 41. Features of carrying out interbank payments and/or transfers of money for operations using payment cards

Processing and clearing of payments between banks of the Republic of Kazakhstan for operations carried out on the territory of the Republic of Kazakhstan using payment cards issued by them are carried out by the payment system operator included in the registry of payment systems of the National Bank of the Republic of Kazakhstan, and in the manner determined by the normative legal act of the National Bank of the Republic of Kazakhstan.
The National Bank of the Republic of Kazakhstan has the right to organize a system for servicing interbank operations carried out on the territory of the Republic of Kazakhstan using payment cards issued by banks - residents of the Republic of Kazakhstan, by imposing operational and technological functions to ensure the functioning of this system on the operational center of a systemically important payment system or by creating a special organization.
Requirements for the procedure for carrying out the activities of such a special organization and the interaction of banks-issuers of payment cards with this organization are established by the normative legal act of the National Bank of the Republic of Kazakhstan.

Chapter 7-1. Digital Tenge

Article 41-1. Digital Account

A digital account is opened on the digital tenge platform by the National Bank of the Republic of Kazakhstan and other participants of the digital tenge platform based on a client's application to open a digital account after concluding a digital account agreement with the client.
The circulation of digital tenge, opening and maintenance of digital accounts are carried out on the digital tenge platform of the National Bank of the Republic of Kazakhstan.
Participants of the digital tenge platform based on a concluded agreement with the operator of the digital tenge platform may include banks, organizations carrying out certain types of banking operations, the central depository, the Committee of the Treasury under the Ministry of Finance of the Republic of Kazakhstan, other providers of payment services and legal entities defined by the National Bank of the Republic of Kazakhstan. The form of the application for opening a digital account, requirements for the content of the digital account agreement and the format of the individual identification code assigned to the owner of the digital account at the time of its opening are determined by the rules for the issue, circulation and redemption of digital tenge approved by the National Bank of the Republic of Kazakhstan. Maintenance of a digital account includes providing the owner of the digital account with access to the digital account through information resources (systems) for making payments and transfers, and other types of operations available for making using a digital account.
The following operations are performed on a digital account:
1) acceptance (crediting) of digital tenge to a digital account, including replenishment of a digital account in exchange for received funds for an equivalent amount on terms provided for by the digital account agreement;
2) making a transfer of digital tenge to other owners of digital accounts in the manner provided for by the digital account agreement;
3) execution of instructions of third parties on withdrawal of digital tenge on grounds provided for by the laws of the Republic of Kazakhstan regarding money in bank accounts, taking into account the features of the functioning regime of smart contracts of digital tenge and marked digital tenge defined by the National Bank of the Republic of Kazakhstan;
4) withdrawal of digital tenge from a digital account in exchange for issuing cash money or replenishing a bank account of a client or a third party by instruction of the client for an equivalent amount on terms provided for by the digital account agreement;
5) providing at the request of the owner of the digital account information about the amount of digital tenge of the client in a digital account and operations carried out in the manner and time limits provided for by the digital account agreement;
6) carrying out any other service of the client provided for by the rules for the issue, circulation and redemption of digital tenge approved by the National Bank of the Republic of Kazakhstan and/or the digital account agreement.
Payments and transfers using digital tenge are carried out within the limits of funds balances in a digital account.
Opening of savings digital accounts is not allowed.
An agreement between a participant of the digital tenge platform and the owner of a digital account must contain information on:
1) conditions for use, acquisition of digital tenge, replenishment of a digital account with digital tenge and withdrawal of digital tenge from a digital account;
2) size and procedure for collecting commission remuneration for servicing operations using digital tenge;
3) methods for submitting claims and procedure for their consideration, including contact information for the participant of the digital tenge platform servicing the client's digital account;
4) liability of the parties for non-performance or improper performance of their obligations.
The participant of the digital tenge platform may provide additional conditions necessary for servicing the client's digital account.
Charging of commission remuneration by a participant of the digital tenge platform for servicing operations of owners of digital accounts within the limits established by the agreement concluded with the owner of the digital account is allowed.
The types and maximum sizes of commission remuneration of participants of the digital tenge platform for servicing operations of owners of digital accounts are established by the rules for the issue, circulation and redemption of digital tenge approved by the National Bank of the Republic of Kazakhstan.
A participant of the digital tenge platform is liable to the owner of a digital account in accordance with the conditions of the digital account agreement for damage caused to the owner of a digital account due to unauthorized access to a digital account or its unauthorized use through access to a digital account via an information resource (system) of a participant of the digital tenge platform, as well as errors or failures in the work of software of a participant of the digital tenge platform.
A participant of the digital tenge platform takes measures to detect, as well as prevent fraud and legalization (laundering) of income obtained criminally, financing of terrorism and financing of proliferation of weapons of mass destruction in accordance with the requirements of the Law of the Republic of Kazakhstan "On combating legalization (laundering) of income obtained criminally, financing of terrorism and financing of proliferation of weapons of mass destruction".
A participant of the digital tenge platform provides information and information about operations subject to financial monitoring to the authorized body for financial monitoring in accordance with the requirements of the Law of the Republic of Kazakhstan "On combating legalization (laundering) of income obtained criminally, financing of terrorism and financing of proliferation of weapons of mass destruction".
Provisions of this Law and other laws of the Republic of Kazakhstan operating in relation to bank accounts in part of withdrawal of money without the consent of the client, arrest and restrictions on disposal of funds apply to digital accounts, unless otherwise provided for by the laws of the Republic of Kazakhstan and normative legal acts of the National Bank of the Republic of Kazakhstan.
Closing of a digital account is carried out in accordance with the requirements of Article 28 of this Law.
Information about owners and amounts of digital tenge belonging to them, as well as about operations carried out using digital tenge, is provided by a participant of the digital tenge platform to persons on grounds and within limits provided for by Article 69 of the Law of the Republic of Kazakhstan "On Banks and Banking Activity in the Republic of Kazakhstan".

Article 41-2. Organization of circulation of digital tenge

The National Bank of the Republic of Kazakhstan, in order to organize the circulation of digital tenge, opens digital accounts for participants of the digital tenge platform, establishes rules for the issue, circulation and redemption of digital tenge, exercises control over their compliance and has the right to impose operational and technological functions, including functions for opening and servicing digital accounts, of the digital tenge platform, on a legal entity of the National Bank of the Republic of Kazakhstan.
Accounting and storage of digital tenge may be carried out on external electronic media allowing also disposal of funds.
Digital tenge may be used in international payments and transfers of money in the manner determined by the rules for the issue, circulation and redemption of digital tenge approved by the National Bank of the Republic of Kazakhstan.
Rules for the issue, circulation and redemption of digital tenge must contain:
1) procedure and conditions for carrying out the issue and redemption of digital tenge by the National Bank of the Republic of Kazakhstan;
2) requirements for participants of the digital tenge platform and owners of digital accounts;
3) conditions for termination of activities by a participant of the digital tenge platform for servicing digital accounts;
4) procedure for providing access to a digital account, suspension, resumption and termination of access to a digital account;
5) conditions and procedure for using external electronic media as a means of accounting, storage of digital tenge and disposal thereof;
6) types of operations with digital tenge and procedure for their completion;
7) procedure and conditions for marking digital tenge and application of smart contracts of digital tenge when using digital tenge, as well as their removal;
8) features of use and functioning of marked digital tenge and smart contracts of digital tenge;
9) procedure for risk management and continuity of functioning of the digital tenge platform of the National Bank of the Republic of Kazakhstan;
10) requirements for information security of the digital tenge platform and participants of the digital tenge platform;
11) other requirements and provisions necessary for organizing and ensuring the circulation of digital tenge.
The National Bank of the Republic of Kazakhstan determines the list, formats, procedure for formation and requisites of electronic messages used for interaction between the National Bank of the Republic of Kazakhstan, participants of the digital tenge platform and owners of digital accounts when carrying out operations with digital tenge.
The National Bank of the Republic of Kazakhstan ensures uninterrupted functioning of the digital tenge platform.

Article 41-3. Issue, redemption, replenishment and withdrawal of digital tenge from a digital account

Only the National Bank of the Republic of Kazakhstan has the right to issue and redeem digital tenge.
Issuance of digital tenge is carried out by the National Bank of the Republic of Kazakhstan in exchange for money received from the owner of a digital account.
Redemption of digital tenge is carried out by the National Bank of the Republic of Kazakhstan by transferring an equivalent amount of money to a bank account of the owner of a digital account.
Rights of the owner of digital tenge arise from the moment of receipt of digital tenge to a digital account, except for cases provided for by the rules for the issue, circulation and redemption of digital tenge approved by the National Bank of the Republic of Kazakhstan.
The owner of a digital account has the right to replenish a digital account with digital tenge or withdraw digital tenge from a digital account through a participant of the digital tenge platform servicing his digital account.
The procedure and conditions for replenishment and withdrawal of digital tenge from a digital account through a participant of the digital tenge platform servicing a digital account are determined by the rules for the issue, circulation and redemption of digital tenge approved by the National Bank of the Republic of Kazakhstan.

Article 41-4. Change of the participant of the digital tenge platform servicing a digital account

A user of the digital tenge platform has the right to change a participant of the digital tenge platform servicing his digital account by sending an application for changing the participant of the digital tenge platform servicing a digital account to the National Bank of the Republic of Kazakhstan or to a legal entity of the National Bank of the Republic of Kazakhstan, on which operational and technological functions of the digital tenge platform have been imposed. The procedure for carrying out and conditions for changing the participant of the digital tenge platform servicing a digital account and the standard form of the application are established by the rules for the issue, circulation and redemption of digital tenge.

Chapter 8. ELECTRONIC MONEY

Article 42. Issuers, owners of electronic money and operator of the electronic money system

Electronic money issued by issuers of electronic money on the territory of the Republic of Kazakhstan must be denominated (expressed) only in the national currency of the Republic of Kazakhstan.
Electronic money may be issued by the National Bank of the Republic of Kazakhstan, banks and the National Postal Operator.
Owners of electronic money may be:
1) individuals;
2) agents;
3) individual entrepreneurs and legal entities.
Rights of the owner of electronic money arise from the moment of receipt of electronic money.
An issuer of electronic money is obliged to carry out identification of an individual in case of acquisition by him of electronic money in an amount exceeding three times the size of the monthly calculation indicator established for the corresponding financial year by the law on the republican budget.
An issuer of electronic money has the right based on an agreement to authorize a legal entity that is a subject of financial monitoring in accordance with the Law of the Republic of Kazakhstan "On combating legalization (laundering) of income obtained criminally, financing of terrorism and financing of proliferation of weapons of mass destruction" to carry out identification of the owner of electronic money - an individual on behalf and at the direction of the issuer of electronic money. Identification of the owner of electronic money is carried out by the issuer of electronic money and/or the operator of the electronic money system in person with presentation of a document certifying identity, or remotely based on information from available sources obtained from the operational center of the interbank system for transfers of money.
Operators of the electronic money system may be the issuer of electronic money itself or a bank, an organization carrying out certain types of banking operations, or a payment organization based on a corresponding agreement concluded with the issuer(s) of electronic money.
Relations between the issuer of electronic money and the operator of the electronic money system (if he is not the issuer of electronic money) are regulated by this Law and the agreement concluded between them.

6-1. The procedure and features of crediting, accounting and use of benefits and social payments from funds of the state budget and/or funds of the State Fund for Social Insurance, transferred in the form of electronic money, as well as monitoring of the use of targeted social assistance are determined by the Government of the Republic of Kazakhstan in coordination with the National Bank of the Republic of Kazakhstan. Seizure, imposition of arrest, suspension of expenditure operations, temporary restriction on disposal of property, restrictions on making transactions and other operations on electronic money located in electronic wallets intended for crediting benefits and social payments from funds of the state budget and/or funds of the State Fund for Social Insurance, are not allowed,

material assistance provided in accordance with subparagraph 1) of paragraph 4 of Article 112 of the Social Code of the Republic of Kazakhstan.

An operator of an electronic money system, in accordance with the conditions of contracts concluded with the issuer(s) of electronic money and on the basis of powers granted to it by the issuer(s) of electronic money, has the right to conclude contracts on behalf of the latter with individuals, agents, individual entrepreneurs, and legal entities participating in the electronic money system. In this case, a contract concluded between the owner of electronic money and the operator of the electronic money system is equated to a contract concluded with the issuer(s) of electronic money when using the electronic money issued by them within one system, including the issuer(s) of electronic money who became participants of the electronic money system after the date of conclusion of this contract.
The National Bank of the Republic of Kazakhstan determines the procedure for the issuance, use, and redemption of electronic money, as well as requirements for issuers of electronic money and electronic money systems on the territory of the Republic of Kazakhstan.
The operator of an electronic money system is obliged to ensure the functioning of the electronic money system taking into account the requirements and restrictions established by this Law, the Digital Code of the Republic of Kazakhstan, and other laws of the Republic of Kazakhstan. The issuer of electronic money and the operator of the electronic money system bear responsibility to the owner of electronic money in accordance with the conditions of the contract on the issuance, use, and redemption of electronic money for damage caused to the owner of electronic money as a result of unauthorized access to electronic money or their unauthorized use, as well as errors or failures in the operation of the software of the issuer of electronic money or in the functioning of the electronic money system.

From the date of suspension of action or revocation of the license and/or appendix to the license of the bank-issuer of electronic money, the operator of the electronic money system ceases operations with electronic money issued by that issuer in the manner determined by the normative legal act of the National Bank of the Republic of Kazakhstan.

Article 43. Issuance and Sale of Electronic Money

The issuance of electronic money is carried out by the issuer of electronic money after receiving money from individuals or agents in an amount equal to the nominal value of the obligations assumed, minus the commission fee for the issuance of electronic money with the provision of confirmation.

The issuance of electronic money in the electronic money system of the unified accounting system, functioning in accordance with the Law of the Republic of Kazakhstan "On Gambling Business", is carried out by the issuer of electronic money in the following cases:

after receiving money from individuals or agents in an amount equal to the nominal value of the obligations assumed, minus the commission fee for the issuance of electronic money with the provision of confirmation;

on the basis of successful authorization of the operation and its confirmation by the bank-issuer and payment system, carried out using a payment card of an individual, for payment of participation in bets in an amount equal to the nominal value of the obligations assumed, minus the commission fee for the issuance of electronic money.

The requirements of the first part of this paragraph do not apply to the issuance of electronic money by the National Bank of the Republic of Kazakhstan.

The issuer of electronic money assumes an unconditional and irrevocable monetary obligation to redeem the electronic money issued by it in accordance with their nominal value in the national currency of the Republic of Kazakhstan.

The issuer of electronic money notifies the National Bank of the Republic of Kazakhstan in the manner determined by the normative legal act of the National Bank of the Republic of Kazakhstan about the commencement of activities for the issuance of electronic money.
The collection by the issuer of electronic money of a commission fee for the issuance of electronic money, as well as fees for additional services provided by the issuer of electronic money, is carried out in accordance with the conditions of the concluded contract.
Relations between the issuer of electronic money and their owner - an individual are regulated by this Law and the contract on the issuance, use, and redemption of electronic money concluded between them in accordance with the legislation of the Republic of Kazakhstan.
Before concluding a contract on the issuance, use, and redemption of electronic money, the issuer of electronic money or the operator of the electronic money system acting on behalf of the owner of electronic money is obliged to provide information to an individual intending to participate in the electronic money system:

1) about the name and location of the issuer of electronic money and the operator of the electronic money system, and also in cases where the operator of the electronic money system is not a bank, about its registration number;

2) about the conditions for the use of electronic money;

3) about the size and procedure for charging by the issuer of electronic money and/or the operator of the electronic money system of a commission fee charged from the owner of electronic money upon issuance, use, and redemption of electronic money;

4) about methods of submitting claims and the procedure for their consideration, including contact information for the issuer of electronic money or the operator of the electronic money system.

In addition to the conditions provided for in paragraph 4 of Article 13 of this Law, the contract on the issuance, use, and redemption of electronic money must contain:

1) conditions for the issuance (acquisition) of electronic money;

2) conditions for carrying out operations using electronic money, including restrictions on the use of electronic money;

3) the procedure for certifying the rights of the owner of electronic money to electronic money and carrying out operations with their use;

4) the procedure and methods for presenting electronic money for redemption and the procedure for their redemption;

5) the procedure for exchanging information between the issuer of electronic money and their owner when using electronic money, including the procedure and deadlines for notifying the issuer of electronic money about the loss of control over access to electronic money or their unauthorized use;

6) liability of the parties for non-performance or improper performance of their obligations.

The sale of electronic money to individuals or the acquisition of electronic money from individuals is carried out by an agent on the basis of a contract concluded with the issuer of electronic money or the operator of the electronic money system, in which the rights and obligations of the parties, the procedure and conditions for the sale and acquisition of electronic money are determined.

Article 44. Use and Redemption of Electronic Money

Electronic money is used by their owners for making payments under civil law transactions, as well as for conducting other operations on the conditions defined by the rules of the electronic money system and not contradicting the legislation of the Republic of Kazakhstan.

1-1. Payments and other operations using electronic money are carried out by their owner in favor of an identified owner of electronic money.

Electronic money, whose owner is an unidentified physical person, shall not be redeemed by the issuer of electronic money and sold to an agent (acquired by an agent).

Acceptance of electronic money by an individual entrepreneur and/or a legal entity as payment for civil law transactions is carried out on the basis of a contract concluded with the issuer of electronic money or another bank that is a participant in the electronic money system.

An individual entrepreneur and/or a legal entity that received electronic money in the electronic money system when carrying out civil law transactions acquires the right of monetary claim against the issuer of electronic money in the amount of the accepted payment.

The issuer of electronic money and the operator of the electronic money system take measures to ensure and implement organizational and procedural measures in the electronic money system for the purpose of identifying and preventing fraud, legalization (money laundering) of income obtained criminally, financing of terrorism, and financing of the proliferation of weapons of mass destruction in accordance with the requirements of the Law of the Republic of Kazakhstan "On Countering Legalization (Money Laundering) of Income Obtained Criminaly, Financing of Terrorism and Financing of Proliferation of Weapons of Mass Destruction".

The operator of the electronic money system provides information and data on operations subject to financial monitoring to the authorized body for financial monitoring in accordance with the requirements of the Law of the Republic of Kazakhstan "On Countering Legalization (Money Laundering) of Income Obtained Criminaly, Financing of Terrorism and Financing of Proliferation of Weapons of Mass Destruction".

The issuer of electronic money provides information to the authorized body for financial monitoring about operators of electronic money who are not banks after concluding a corresponding contract with them.

The maximum amount of one operation carried out by an unidentified owner of electronic money - a physical person, shall not exceed an amount equal to three times the size of the monthly calculation indicator established for the corresponding financial year by the law on the republican budget.
The maximum amount of electronic money stored on one electronic device of an unidentified owner of electronic money - a physical person, does not exceed an amount equal to three times the size of the monthly calculation indicator established for the corresponding financial year by the law on the republican budget.

5-1. The total amount of payments and/or other operations using electronic money from an electronic wallet of an unidentified owner of electronic money - a physical person during a working day shall not exceed an amount equal to three times the size of the monthly calculation indicator established for the corresponding financial year by the law on the republican budget.

Redemption of electronic money is carried out by the issuer of electronic money by transferring an amount of money equal to their nominal value to the bank account of an identified owner of electronic money - a physical person, or by issuing cash to him, unless otherwise provided by the commission fee of the issuer of electronic money or the operator of the electronic money system in the contract concluded between the issuer of electronic money and the owner of electronic money - a physical person.
Charging a commission fee from the owner of electronic money for the issuance, use, and redemption of electronic money, as well as fees for additional services provided by the issuer of electronic money, is carried out in accordance with the conditions of the contract on the issuance, use, and redemption of electronic money.
The issuer of electronic money carries out the redemption of electronic money received by an individual entrepreneur or legal entity from individuals for payment under civil law transactions within three working days from the date of receipt of electronic money in their favor, unless another term is provided by the contract concluded between the issuer of electronic money and the individual entrepreneur or legal entity.

When carrying out operations with securities, paying remuneration using electronic money, paying related to stimulating the use of electronic money, it is allowed to transfer electronic money by a legal entity to other legal or physical persons.

Electronic money received by an individual entrepreneur or legal entity shall not be redeemed upon return to a physical person - payer on grounds provided for by this Law for the return of money in transfers, or in case of termination of the concluded civil law transaction on grounds provided for by the legislation of the Republic of Kazakhstan.

Redemption of electronic money, whose owners are individual entrepreneurs or legal entities, is carried out by transferring an amount of money equal to their nominal value to the bank account of the individual entrepreneur or legal entity, unless otherwise provided by the commission fee of the issuer of electronic money or the operator of the electronic money system in the contract concluded between the issuer of electronic money or the operator of the electronic money system and the owner of electronic money.

Information about owners and amounts of electronic money belonging to them, as well as about operations carried out using electronic money, is issued by the issuer of electronic money or the operator of the electronic money system to persons on grounds and within limits provided for in Article 69 of the Law of the Republic of Kazakhstan "On Banks and Banking Activity in the Republic of Kazakhstan".
It is prohibited to carry out redemption of electronic money by transferring money to the bank account or electronic payment instrument of the owner of electronic money - a physical person without obtaining confirmation of the ownership of the bank account or electronic payment instrument by that physical person.

Chapter 9. ACCEPTANCE AND EXECUTION OF AN INSTRUCTION IN THE FORM OF A REQUEST OR DEMAND

Article 45. Presentation of an instruction in the form of a request or demand

An instruction in the form of a request or demand may be presented in electronic form or on a paper carrier.

An instruction on a paper carrier is оформляется on a form of established form and must contain:

1) details in accordance with the requirements of the normative legal act of the National Bank of the Republic of Kazakhstan;

2) signatures of the initiator and impression of a seal, except for subjects of private entrepreneurship and legal entities - residents of the Republic of Kazakhstan, which do not have a seal according to the legislation of the country of origin of such legal entities.

Acceptance of an instruction and order for its withdrawal or suspension of its execution is carried out by the bank of the sender of money only during the established operating day.
If an instruction or order for its withdrawal or suspension of its execution is received after the end of the operating day established by the bank of the sender of money, then such an instruction or order is considered to have been received by the bank of the sender of money at the beginning of the next operating day.
Presentation of an instruction, order for its withdrawal or suspension of its execution is carried out:

1) by transmission electronically, without drawing up on a paper carrier, using appropriate electronic communication channels and telecommunications network;

2) on an electronic carrier in the absence of the possibility of using electronic communication channels and telecommunications network;

3) by presentation of the original payment document, order for its withdrawal or suspension of its execution, executed on a paper carrier.

Presentation of an instruction, order for its withdrawal or suspension of its execution electronically or on an electronic carrier is allowed only if the requirements established by normative legal acts of the National Bank of the Republic of Kazakhstan are observed.
It is prohibited to present electronically an instruction, the use of which is provided for by the legislation of the Republic of Kazakhstan only on a paper carrier.
Methods, procedure, and conditions for presentation by the initiator of an instruction to the bank or organization carrying out certain types of banking operations are reflected in the contract between them, if the initiator is a client of the bank or organization carrying out certain types of banking operations. If the initiator is not a client of the bank or organization carrying out certain types of banking operations, then presentation of the instruction is carried out in accordance with the norms of this Law and normative legal acts of the National Bank of the Republic of Kazakhstan.
Instructions, orders for their withdrawal or suspension of execution are drawn up in Kazakh and/or Russian languages. The possibility of using other languages is established by a contract between the bank or organization carrying out certain types of banking operations and its (their) client.

Article 46. Execution of Instruction

Upon acceptance of an instruction by a bank or organization carrying out certain types of banking operations, the bank or organization carrying out certain types of banking operations is obliged to check it for compliance with requirements for the procedure for drawing up, presentation of the instruction, and other requirements established by the legislation of the Republic of Kazakhstan and/or conditions of the contract, and execute it observing the conditions indicated in it, unless otherwise provided by the legislation of the Republic of Kazakhstan, or refuse to execute it.
Execution of an instruction presented via a collection order is carried out by a bank or organization carrying out certain types of banking operations no later than three operating days following the day of receipt of the instruction, except for execution of a collection order for an indefinite period, as well as cases provided for in the Code of the Republic of Kazakhstan "On Taxes and Other Mandatory Payments to the Budget" (Tax Code).
Transfer of money between bank accounts opened in one bank or one organization carrying out certain types of banking operations is carried out by the bank of the sender of money within one operating day.
International payments and/or transfers of money are executed no later than three operating days following the day of receipt of the instruction, observing the requirements established by the currency legislation of the Republic of Kazakhstan.
The beneficiary's bank refuses to execute the instruction within the operating day of receipt of the instruction indicating the reason for refusal, except for refusals on operations for transfer (transfer) of digital tenge, the procedure for carrying out which is determined by the rules of issuance, circulation, and redemption of digital tenge approved by the National Bank of the Republic of Kazakhstan.
For execution of an instruction by the bank of the sender of money, the sender of money is obliged to ensure the amount of money necessary for its execution, unless otherwise provided in the contract between the sender of money and the bank of the sender of money.
Refusal to execute an instruction by a bank or organization carrying out certain types of banking operations is made on the following grounds:

1) if the sender of money does not ensure the amount of money necessary for making a payment and/or transfer, unless the contract provides for the payment service provider to provide the client with a credit service for making such a payment and/or transfer of money;

2) if the instruction contains signs of forgery, correction, addition, and smudge, including if the instruction is transmitted in violation of the procedure for protective actions against unauthorized payments established by the contract between the sender and the bank of the sender of money;

3) if the initiator fails to comply with requirements for the procedure for drawing up and presenting the instruction and/or other requirements established by the legislation of the Republic of Kazakhstan and/or conditions of the contract;

4) in cases provided for by the Law of the Republic of Kazakhstan "On Countering Legalization (Money Laundering) of Income Obtained Criminaly, Financing of Terrorism and Financing of Proliferation of Weapons of Mass Destruction", the Law of the Republic of Kazakhstan "On Gambling Business", or international treaties ratified by the Republic of Kazakhstan, or provided for in the contract with resident banks of the Republic of Kazakhstan;

4-1) in the absence of a registered contract for shared participation in housing construction with an authorized company in the unified digital system of shared participation in housing construction when making payment for acquiring a share in a under-construction multi-apartment residential building or a complex of individual residential houses under a contract for shared participation in housing construction;

5) in cases when a demand for recovery of money from a bank account is presented to a bank account intended for crediting allowances and social payments paid from the state budget and/or from the State Fund of Social Insurance, compensation for material damage and provision of necessary assistance from the state budget and/or from charitable organizations to physical persons affected by emergency situations of natural or technogenic nature, material assistance provided in accordance with subparagraph 1) of paragraph 4 of Article 112 of the Social Code of the Republic of Kazakhstan, housing payments, one-time pension payments from the Unified Accumulative Pension Fund for the purpose of improving housing conditions and/or payment for treatment, target assets, payments of target accumulations from the Unified Accumulative Pension Fund for the purpose of improving housing conditions and/or payment for education, payments of accumulations from the educational accumulation deposit or insurance payments under a contract of educational accumulation insurance for improving housing conditions, money located in a bank account in a housing construction savings bank having the status of a national development institute, intended for crediting payments and subsidies for payment for rented housing in the private housing fund, money deposited on conditions of a notary deposit, money located in bank accounts in housing construction savings banks in the form of housing construction savings accumulated due to the use of housing payments, one-time pension payments from the Unified Accumulative Pension Fund for the purpose of improving housing conditions and/or payment for treatment, in the form of payments of target accumulations from the Unified Accumulative Pension Fund for the purpose of improving housing conditions and/or payment for education, on money located in bank accounts in

housing construction savings banks as housing construction savings, which are the subject of pledge under issued bank loans, as payouts from accumulated funds from an educational savings deposit or insurance payouts under a contract for educational savings insurance to improve housing conditions, money held in the current account of a private judicial executor intended for storing recovered amounts for claimants, money held in bank accounts intended for accounting for clients' money of an investment portfolio manager for unfulfilled obligations of said investment portfolio manager, money held in bank accounts intended for accounting for clients' money of a person performing functions of a nominal holder for unfulfilled obligations of said person performing functions of a nominal holder, money held in bank accounts for carrying out clearing activities for transactions with financial instruments, money held in the bank account of a single operator in the field of state procurement intended for potential suppliers or suppliers to deposit money as security measures within participation in state procurement in accordance with the Law of the Republic of Kazakhstan "On State Procurement", money held in bank accounts in second-level banks as accumulations for capital repair of common property of a condominium object, except for recoveries based on court decisions on cases of non-fulfillment of obligations under contracts concluded for the purpose of conducting capital repair of common property of a condominium object, as well as to a bank account under a contract for an educational savings deposit concluded in accordance with the Law of the Republic of Kazakhstan "On the State Educational Savings System";

5-1) in cases where a payment demand for collection of overdue debt on a loan and/or a cash collection order is presented to a bank account intended for crediting alimony (money intended for maintenance of minor children and incapacitated persons);

5-2) in cases where a demand for recovery of money from a bank account is presented to a bank account of a debtor regarding whom bankruptcy proceedings have been initiated in the manner provided by the Law of the Republic of Kazakhstan "On Rehabilitation and Bankruptcy", or regarding whom proceedings for the application of a procedure or a procedure has been applied in the manner provided by the Law of the Republic of Kazakhstan "On Restoration of Solvency and Bankruptcy of Citizens of the Republic of Kazakhstan";

6) upon detection of an unauthorized payment, as well as in cases of detection and confirmation of justified facts of illegality of receipt of money transferred to the beneficiary;

7) in the presence of decisions and/or orders of authorized state bodies or officials on suspension of spending operations on a client's bank account, temporary restriction on disposal of property, acts not secured by money on imposition of seizure on money located in a client's bank account, as well as instructions subject to execution in priority order in accordance with the legislation of the Republic of Kazakhstan;

8) in case of non-compliance of the instruction with the requirements of the normative legal act regulating the establishment of correspondent relations between banks and banks - participants of the International Financial Center "Astana".

Refusal by a bank or an organization carrying out separate types of banking operations to execute an instruction on the grounds specified in subparagraphs 1) and 7) of part one of this paragraph does not extend to cash collection orders, as well as payment documents whose storage is provided for by a contract between the sender of money and the bank of the sender.

Execution of an instruction is the performance by a bank or an organization carrying out separate types of banking operations of the conditions of the received instruction:

1) transfer of the instruction to the next bank or organization carrying out separate types of banking operations, if the bank or organization carrying out separate types of banking operations does not service the beneficiary;

2) completion of the transfer of money, if the bank of the sender of money is the bank of the beneficiary;

3) issuance of cash to the initiator presenting an order for payment of cash, if the bank or organization carrying out separate types of banking operations services the sender of money.

The bank of the beneficiary has the right to set off in favor of a third party or in its own favor the amount of money indicated in the instruction being executed against the amount of the obligation of the beneficiary to a third party or to said bank or organization carrying out separate types of banking operations, the term for execution of which has arrived at the moment of receipt of such instruction by the bank of the beneficiary, taking into account compliance with the sequence of withdrawal of money from the bank or organization carrying out separate types of banking operations established by the laws of the Republic of Kazakhstan.

Article 47. Execution of an instruction through a third-party payment service provider

A payment service specified in subparagraph 9) of paragraph 1 of Article 12 of this Law, provided by a third-party payment service provider, is carried out based on the consent of the client provided through the open banking system and confirmed by means of an identification tool.

1-1. The open banking system carries out collection, storage, and processing of consents of clients of participants of the open banking system for the provision of electronic banking services by third-party payment service providers based on client consent, identification of clients of participants of the open banking system, authorization and maintenance of a registry of authorized payment service providers, exchange of information between payment service providers, including third-party payment service providers.

A payment service provider servicing a client's bank account, after receiving the client's instruction through the open banking system, immediately sends confirmation to the third-party payment service provider and/or the client for the implementation of the payment and/or transfer of money.
A payment service provider servicing a client's bank account executes client instructions received through the open banking system in the manner and timeframes established by Articles 46-49 of this Law, complying with the procedure for protective actions against unauthorized payments.
Provision of electronic banking services by third-party payment service providers is carried out through the open banking system in accordance with the normative legal act of the National Bank of the Republic of Kazakhstan regulating the provision of electronic banking services.
A third-party payment service provider bears responsibility to the client and the payment service provider servicing the account for the consequences of the implementation of unauthorized payments and/or fraudulent actions on payments and/or transfers of money carried out in its remote access system.

Article 48. Timeframes for execution of instructions

A bank or an organization carrying out separate types of banking operations ensures execution of the instruction on the day it is initiated by the sender.
Execution of an instruction for crediting money to a bank account of the beneficiary or another account reflecting receipt of money in favor of the beneficiary is carried out by the bank of the beneficiary within the operational day on the day of receipt of the instruction, except for the case provided for in paragraph 2 of Article 53 of this Law.
The norms of paragraphs 1 and 2 of this article do not apply to execution of instructions:

1) presented by means of a cash collection order;

2) subject to execution at indefinite terms;

3) with a future value date;

4) on the basis of which international payments and/or transfers of money are carried out, as well as settlements for transactions in the securities market;

5) expressed as client consent when using electronic payment instruments for purchase of goods or services at a trading place or when carrying out e-commerce;

6) repealed in accordance with Law of RK No. 168-VI dated 02.07.18

7) presented by means of a payment demand for collection of overdue debt on a loan;

8) expressed as transfer (transfer) of digital tenge.

Timeframes for execution of these instructions are established by requirements of normative legal acts of the National Bank of the Republic of Kazakhstan.

Refusal to execute an instruction is made by the bank of the sender of money within the operational day on the day of receipt of the instruction with indication of the reason for refusal, except for instructions presented by means of a payment demand for collection of overdue debt on a loan, as well as a cash collection order, refusal on which is made within timeframes provided for execution of such payment documents.

Article 49. Execution of an instruction with a value date

The value date indicated in the payment document cannot exceed ten calendar days from the date of issuance of the payment document.
Upon execution of an instruction with a value date, money of the sender of money is transferred to an internal balance account (transit account) of the bank of the sender of money.
Transfer of money of the sender of money to the special transit account of the bank of the sender of money is carried out within timeframes established by this Law for execution of the client's instruction, but no later than timeframes determined by paragraphs 4 and 5 of this article.
Transfer of money from the special transit account of the bank of the sender of money is carried out by the bank of the sender of money no later than the value date indicated in the payment document, taking into account time allowing crediting of money by the bank of the beneficiary to the bank account of the beneficiary, in the manner determined by paragraph 5 of this article.
The bank of the beneficiary credits money to the bank account of the beneficiary within the operational day determined by the value date.
If the value date falls on a non-working day, then the bank of the beneficiary credits money to the bank account of the beneficiary on the first working day following the day determined by the value date.
Upon crediting money to a bank account of the beneficiary in an operational day not corresponding to the value date indicated in the payment document, the bank violating the conditions of the instruction with a value date bears responsibility in the manner determined by the bank account contract.

Article 50. Recall and suspension of execution of an instruction

Recall of an instruction and suspension of execution of an instruction are carried out before its execution based on a corresponding order sent by the initiator to the bank of the sender of money, and/or before the bank of the sender of money sends information to the beneficiary about acceptance of payment in his favor. The timeframe for execution of the order for recall, as well as the method of its transmission, are established by the contract and/or normative legal act of the National Bank of the Republic of Kazakhstan.
Recall of a cash collection order of a territorial body of justice or a private judicial executor, whose license has been suspended or terminated or who has been deprived of a license or excluded from members of the Republican Chamber of Private Judicial Executors, is carried out by the territorial body of justice or private judicial executor to whom enforcement proceedings have been transferred, in the manner established by the Law of the Republic of Kazakhstan "On Enforcement Proceedings and Status of Judicial Executors".
When sending an order for recall of an instruction or suspension of execution of an instruction electronically, the procedure for protective actions established by the contract between the initiators of these orders and the bank of the sender of money is observed.
Upon timely receipt of an order for recall of an instruction, the bank of the sender of money does not carry out transfer of money under this instruction and returns it no later than the operational day following the day of receipt of such order, simultaneously sending notification to the initiator about execution of the received order.
Execution of an instruction is suspended in cases provided for in paragraph 6 of Article 92 and Article 102 of the Law of the Republic of Kazakhstan "On Banks and Banking Activity in the Republic of Kazakhstan", legislation of the Republic of Kazakhstan on payments and payment systems, combating legalization (laundering) of proceeds obtained criminally, terrorism financing and financing of proliferation of weapons of mass destruction, as well as if an act on imposition of seizure on money located in a bank account, temporary restriction on disposal of property, decision and/or order of an authorized state body or officials on suspension of spending operations on a bank account of the sender of money or bank of the sender of money, and a decision of an authorized state body, official, or judicial executor on withdrawal of money from the sender of money, subject to execution earlier than this instruction according to the laws of the Republic of Kazakhstan, are presented to the bank of the sender of money in accordance with the laws of the Republic of Kazakhstan. The bank of the sender of money does not bear responsibility for losses associated with suspension of execution of the instruction on the aforementioned grounds.
Recall of an instruction and suspension of execution of an instruction are not permitted for payments and/or transfers of money related to payment of fees to the budget and payment for state services, information and data on which are provided by banks to state bodies, courts through the payment gateway of the "digital government" in accordance with paragraph 10 of Article 25 of this Law.
Carrying out a payment, issuance and execution of an instruction, issuance of money by the bank to the beneficiary or receipt of money by the beneficiary may be prohibited by state bodies or officials authorized by the laws of the Republic of Kazakhstan, and only on grounds provided for by the laws of the Republic of Kazakhstan.

Article 51. Execution of a standing instruction of the sender of money

A standing instruction of the sender of money is used by the sender of money for carrying out regular payments and/or transfers of money in favor of the beneficiary on a set date and/or period on conditions defined between the sender of money and the bank of the sender of money.
The form and requirements for the content of a standing instruction of the sender of money are established by the National Bank of the Republic of Kazakhstan.
A standing instruction of the sender of money may be оформлено on a paper carrier or in electronic form in the manner determined by the bank of the sender of money. To cancel the action of a standing instruction of the sender of money, a corresponding notification is sent to the bank of the sender of money, оформлено in the manner determined by the bank of the sender of money.
A standing instruction of the sender of money may indicate the name of documents of the beneficiary confirming the monetary obligation of the sender of money (confirming documents), payment of which the sender of money entrusts to the bank of the sender of money.
In accordance with the conditions of the standing instruction of the sender of money or upon receipt by the bank of the sender of money of confirming documents, the bank of the sender of money forms a payment order in favor of the beneficiary on behalf of the sender of money in the manner determined by the normative legal act of the National Bank of the Republic of Kazakhstan.

Article 52. Execution of an instruction by direct debit of a bank account

Direct debit of a bank account of the sender of money is carried out based on prior consent of the sender of money for deduction of money from his bank account using a payment demand or payment order, which are presented in accordance with:

1) a contract concluded between the sender of money and the bank of the sender of money and serving as the basis for execution of demands presented for the purpose of fulfilling monetary obligations of the sender of money;

2) a contract concluded between the sender of money and a bank, mortgage organization, or organization carrying out lending to subjects of the agro-industrial complex, one hundred percent of voting shares of which directly or indirectly belong to a national holding company, including a bank loan contract, under which rights of claim are assigned to an organization specializing in improving quality of credit portfolios of second-level banks, serving as the basis for collection of overdue debt on a loan (loan agreement, agreement on opening a credit line or other document confirming the fact of a borrowing operation or issuance of a guarantee).

The contract between the sender of money and the bank of the sender of money provides for prior consent of the sender of money for execution of payment documents of the beneficiary and indicates details of the beneficiary (name, identification number) and the contract (number, date), in accordance with which the beneficiary uses a payment demand for carrying out payment by direct debit of the bank account of the sender of money.
Presentation by the sender of money to the bank of the sender of money of an application indicating the conditions specified in part one of this paragraph is permitted.
The loan agreement, agreement on opening a credit line, or other document confirming the fact of a borrowing operation or issuance of a guarantee must contain consent of the sender of money for withdrawal of money from his bank account upon presentation of a demand for collection of overdue debt on a loan.
Documents of the beneficiary confirming the monetary obligation of the sender of money are sent to the sender of money no later than the operational day preceding the day of presentation of the payment demand, if such condition is provided for in the contract between them, except for presentation of a payment demand for collection of debt on a loan.
The procedure for carrying out payment by direct debit of the bank account of the sender of money is determined by the normative legal act of the National Bank of the Republic of Kazakhstan.
Responsibility for the validity of withdrawal of money from the bank account of the sender of money by direct debit of the bank account based on a payment demand or payment order is borne by the beneficiary.

Article 53. Execution of an instruction in the absence or insufficiency of the amount of money of the sender of money necessary for execution of the instruction

In the absence or insufficiency of the amount of money of the sender of money necessary for execution of an instruction, storage of which is provided for by the legislation of the Republic of Kazakhstan or by a contract between the sender of money and the bank of the sender of money, the bank of the sender of money is obliged to accept and store received instructions for one year.
In case of non-performance by the beneficiary of actions to present necessary documents and information provided for by currency legislation of the Republic of Kazakhstan, the bank of the beneficiary is obliged to accept and store received instructions of the sender for one hundred eighty calendar days.
In case of non-performance by the beneficiary of actions provided for in part one of this paragraph within one hundred eighty calendar days, the bank of the beneficiary is obliged to return such instructions to its sender without execution.
Execution by the bank of the sender of money of instructions provided for in paragraph 1 of this article is carried out in calendar order in the order of their arrival at the bank or organization carrying out separate types of banking operations, taking into account compliance with the sequence of execution of instructions provided for by the laws of the Republic of Kazakhstan. Calendar order provides for the date and time of arrival of instructions at the bank of the sender of money.
If after expiration of the term established in paragraph 1 of this article, the presented instruction of the sender was not executed due to insufficiency or absence of money of the sender of money, then the bank of the sender of money is obliged to return such instruction to its sender without execution, except for a cash collection order.
During the period of operation of the regime of restoration of financial sustainability, the regime of resolution of a bank, the bank accepts and stores instructions, execution of obligations under which is suspended, until termination of the regime of restoration of financial sustainability, regime of resolution.
In case of termination of the regime of restoration of financial sustainability, regime of resolution of a bank, the bank is obliged to return such instruction to its sender without execution.
Instructions, execution of obligations under which is not suspended in the regime of restoration of financial sustainability, regime of resolution of a bank, are executed by the bank in the manner determined by this Law and other laws of the Republic of Kazakhstan.

Article 54. Execution of a judicial act and ruling of a judicial executor

A judicial act of a court of the Republic of Kazakhstan on recovery of money, as well as a ruling of a judicial executor or its copy, certified by a seal of a territorial department of the executive production body or a seal of a private judicial executor, on requisition of information about numbers of bank accounts and presence of money on them, information about the nature and cost of property located in banks, organizations carrying out separate types of banking operations, as well as in insurance organizations, and imposition of seizure on them, sanctioned by a prosecutor, are presented to all banks, except for the case provided for in paragraph 4 of this article.
A bank, organization carrying out separate types of banking operations, based on documents specified in paragraph 1 of this article, is obliged within three operational days from the day of receipt of said documents to send to the court (judicial executor) necessary information in accordance with the requirements of the Law of the Republic of Kazakhstan "On Banks and Banking Activity in the Republic of Kazakhstan".
The court (judicial executor), having received said information from banks, determines the bank (banks) on which the obligation to execute the judicial act on recovery of money will be imposed, and sends an instruction to such bank (banks) with attachment of a corresponding enforcement document or its copy, certified by a seal of the court.
If the court (judicial executor) has information about the presence of money in a bank account of a person from whom recovery of money should be carried out, then the instruction of the judicial executor with attachment of a corresponding enforcement document is presented for execution directly to the corresponding bank.
Requesting information by a court (judicial executor) regarding the existence and numbers of bank accounts of an individual or legal entity and/or its structural subdivision, as well as current accounts of an individual engaged in entrepreneurial activity without forming a legal entity, a private notary, a private judicial executor, a lawyer, or a professional mediator, regarding balances and movements of funds in these accounts, as well as the attachment of the debtor's funds held in a bank, are carried out on paper or in electronic form.

Article 54-1. Execution of the resolution of the territorial body of justice formed in the state automated digital system of enforcement proceedings

A resolution of the territorial body of justice, formed in the state automated digital system of enforcement proceedings, certified by means of the electronic digital signature of the head of the territorial body of justice or his deputy, regarding the request for information on the numbers of bank accounts and the presence of funds therein, information on the nature and value of property located in banks, organizations carrying out certain types of banking operations, as well as in insurance organizations, and the attachment thereof, is presented to banks, organizations carrying out certain types of banking operations, via the state automated digital system of enforcement proceedings.
A bank, organization carrying out certain types of banking operations, based on the document specified in paragraph 1 of this article, is obliged within three operational days from the date of receipt of said document to send the necessary information to the state automated digital system of enforcement proceedings in accordance with the requirements of the Law of the Republic of Kazakhstan "On Banks and Banking Activity in the Republic of Kazakhstan".
The territorial body of justice, having received the specified information from banks, organizations carrying out certain types of banking operations, sends via the state automated digital system of enforcement proceedings to the bank, organization carrying out certain types of banking operations, a collection order with an attached enforcement document.

Chapter 10. COMPLETION OF PAYMENTS AND/OR TRANSFERS OF FUNDS

Article 55. Completion of payments and/or transfers of funds

If a payment is made using cash, the completion of the payment occurs at the moment the funds are received by the person in whose favor the payment is made, or by a person authorized by the beneficiary.
If a payment without the use of cash is made by issuing a payment document, the completion of the payment occurs at the moment the funds are received by the person in whose favor the payment is made.
If a payment without the use of cash is made by transferring funds, the completion of the payment occurs at the moment of completion of the transfer of funds by:
1) making an accounting entry to the beneficiary's bank account upon receipt of funds in their favor;
2) actual issuance of cash funds to the beneficiary by the beneficiary's bank, if the beneficiary does not have a bank account;
3) set-off provided for in paragraph 9 of Article 46 of this Law;
4) making an accounting entry to another account reflecting the receipt of funds in favor of the beneficiary.
When making a non-cash payment by issuing a payment document containing a monetary obligation or an order to pay funds (check, promissory note), the completion of obligations under such payment occurs at the moment the beneficiary receives funds under the check, promissory note.
If a payment is made by transferring electronic money, the completion of the payment occurs at the moment the person in whose favor the payment is made receives the electronic money. Reflection of information about the amount of accepted electronic money in the electronic money system, indicating their receipt in favor of another person-beneficiary, is the moment of receiving electronic money.

Article 56. Unauthorized payments

A payment is considered authorized if it is made by a person who had the authority to make such payment and does not contradict the legislation of the Republic of Kazakhstan. In case of making a payment by transferring funds, the payment will also be considered authorized if the instruction is accepted by the sender's bank in compliance with the established procedure for protective actions against unauthorized payments.
Unauthorized are payments and/or transfers of funds carried out without compliance with the requirements established by paragraph 1 of this article. Unauthorized payments and/or transfers of funds also include payments or transfers of funds using counterfeit payment instruments.
Protection against unauthorized payments and/or transfers of funds involves compliance with relevant norms established by the legislation of the Republic of Kazakhstan and/or an agreement between the initiator of the instruction and its recipient, consisting in checking data on the initiation (authorization) of instructions or orders for their recall by the initiator and identifying possible errors.
A bank, organization carrying out certain types of banking operations, or sender of funds when making payments using electronic payment means ensures the performance of security procedures against unauthorized payments. Requirements for security procedures are established by a normative legal act of the National Bank of the Republic of Kazakhstan.
As elements of protective actions, signatures, including electronic digital ones, of authorized person(s), seals, algorithms, codes (digital, alphabetic, using symbols and combined), identifier words or identification codes, encryption, biometric data, or other methods of protection not contradicting the legislation of the Republic of Kazakhstan may be used.
Security procedures are established by agreements concluded between participants in payments and/or transfers of funds and/or by the rules of functioning of the electronic document exchange system in which electronic documents are transmitted.

Article 57. Return of funds for payments and/or transfers of funds

Return of funds when transferring funds is carried out in cases:
1) establishment of the fact of unauthorized nature of a payment made by transferring funds;
2) execution of an erroneous instruction;
3) receipt of funds in favor of a person who is not a client of the beneficiary's bank at the moment of receiving the transfer of funds, if there are unexecuted claims or restrictions on the disposal of funds in the correspondent account of the beneficiary's bank preventing the conduct of outgoing operations;
4) provided for in Article 84 of the Law of the Republic of Kazakhstan "On Banks and Banking Activity in the Republic of Kazakhstan";
5) receipt by the beneficiary's bank of a resolution of the criminal prosecution body, agreed upon by a prosecutor, recognizing the transaction as fraudulent and requiring the return to the client specified in the resolution of the sum of funds blocked in the manner provided for in Article 25-1 of this Law.
The procedure for returning funds is determined by a normative legal act of the National Bank of the Republic of Kazakhstan.
An instruction sent by the initiator is considered erroneous if the instruction:
1) contains details that do not correspond to the details of the instruction received from the previous sender;
2) is transmitted repeatedly.
Return of funds for an erroneous instruction or unauthorized payment and/or transfer of funds, as well as funds blocked in the manner provided for in Article 25-1 of this Law, is carried out by the beneficiary's bank by withdrawing funds from the beneficiary's bank account to which such funds were credited, without their consent.

3-1. Return of funds in cases provided for in sub-paragraphs 3) and 4) of paragraph 1 of this article is carried out to the address of the sender.

Return of funds for an erroneous instruction or unauthorized payment and/or transfer of funds, as well as funds blocked in the manner provided for in Article 25-1 of this Law, is carried out by the beneficiary's bank no later than the next operational day from the date of discovery of the fact of erroneous nature of the instruction or unauthorized nature of the payment and/or transfer of funds or from the date of receipt of the resolution of the criminal prosecution body, agreed upon by a prosecutor, recognizing the transaction as fraudulent, at the expense of available funds in the beneficiary's bank account, including in cases where there are acts on attaching funds located in the bank account and/or temporary restrictions on disposing of property and/or decisions and/or orders of authorized state bodies or officials on suspending outgoing operations on the bank account, and/or unexecuted instructions subject to execution in indefinite terms.
In cases of insufficiency or absence of funds in the beneficiary's bank account, return of funds for an erroneous instruction or unauthorized payment and/or transfer of funds is carried out by the sender who made the erroneous instruction or unauthorized payment and/or transfer of funds, at the expense of their own funds, in the manner and deadlines established by the National Bank of the Republic of Kazakhstan.
Return of funds is not produced after the expiration of three years from the date of execution of the erroneous instruction or unauthorized payment and/or transfer of funds.
Upon return of funds, each sender participating in the transfer of funds has the right to reimbursement of expenses related to such transfer of funds and actually incurred as a result of the return of funds, at the expense of funds of the participant in the transfer of funds (including the intermediary bank) who made the erroneous instruction or unauthorized payment and/or transfer of funds.
The procedure and deadlines for returning funds for erroneous or unauthorized payments and/or transfers are established by a normative legal act of the National Bank of the Republic of Kazakhstan.

Chapter 11. FINAL PROVISIONS

Article 58. Liability for violation of the legislation of the Republic of Kazakhstan on payments and payment systems

For unjustified refusal or untimely execution of an instruction, or improper execution by payment service providers of an instruction for a payment and/or transfer of funds made in favor of a beneficiary different from that indicated in the instruction, or for an amount different from that indicated in the instruction, participants in the payment and/or transfer of funds bear responsibility on grounds, in the manner and sizes provided for by the agreement between them and the Code of the Republic of Kazakhstan on Administrative Offenses.

Banks, organizations carrying out certain types of banking operations bear responsibility on grounds, in the manner and sizes provided for by the Code of the Republic of Kazakhstan on Administrative Offenses for loss of clients' payment documents.

Banks, organizations carrying out certain types of banking operations, payment organizations bear responsibility on grounds, in the manner and sizes provided for by the Code of the Republic of Kazakhstan on Administrative Offenses for non-compliance with requirements established by this Law when providing payment services through payment agents and/or sub-agents.

The issuer of electronic money bears responsibility on grounds, in the manner and sizes provided for by the Code of the Republic of Kazakhstan on Administrative Offenses for issuing electronic money in an amount not corresponding to the sum of accepted obligations, as well as for issuing electronic money in an amount exceeding three monthly calculation indices without identification of the owner of electronic money, and for allowing the use of electronic money in the electronic money system for transactions in an amount exceeding established limits on the maximum amount of one transaction, the amount of storage of electronic money in an electronic wallet, and the total amount of used electronic money via an electronic wallet.

The issuer of electronic money bears responsibility on grounds, in the manner and sizes provided for by the Code of the Republic of Kazakhstan on Administrative Offenses for non-extinguishment, untimely and incomplete extinguishment by the issuer of electronic money received by an individual entrepreneur or legal entity from individuals for payment under civil-law transactions.

Individual entrepreneurs and legal entities specified in paragraph 11 of Article 25 of this Law bear responsibility on grounds, in the manner and sizes provided for by the Code of the Republic of Kazakhstan on Administrative Offenses for refusal to accept payments and/or transfers of funds using payment cards by individual entrepreneurs or legal entities obliged to accept them when carrying out trade activities (performing works, providing services) on the territory of the Republic of Kazakhstan, and/or for the absence of equipment (devices) intended for making payments using payment cards among individual entrepreneurs and legal entities.

Banks and organizations carrying out certain types of banking operations bear responsibility in the manner and sizes provided for by the Code of the Republic of Kazakhstan on Administrative Offenses for failure to submit information on payment services or other reporting on issues of payments and/or transfers of funds, functioning of the market of payment services, on time, as well as for repeated (two or more times within twelve consecutive calendar months) violation of the limit of payments and transfers of funds on correspondent accounts of banks and organizations carrying out certain types of banking operations, or for compiling reporting that led to distortion of information about the fulfillment of said limit.

If an instruction is not executed, the payment service provider (including an intermediary bank) that did not execute or improperly executed the instruction received from the previous sender bears responsibility to him. The sender of funds does not bear responsibility for the payment under a civil-law transaction to the beneficiary if the transfer of funds is not executed due to the fault of the beneficiary's bank.
If a violation of the rules for making transfers of funds is associated with unlawful use by a participant in the payment and/or transfer of funds of another person's funds, such participant pays a penalty provided for by the civil legislation of the Republic of Kazakhstan to the person whose funds they unlawfully use.
A payment service provider does not bear responsibility if, when making a payment, they did not comply with the procedure for protective actions, but at the same time the funds were received by the beneficiary:
1) specified in the instruction;
2) within a timeframe acceptable to the beneficiary;
3) in the amount specified in the instruction;
4) if no damage (losses) was caused to either the sender of funds or the beneficiary.
Banks or organizations carrying out certain types of banking operations bear responsibility on grounds, in the manner and sizes provided for by the Code of the Republic of Kazakhstan on Administrative Offenses for violation or non-execution of acts on temporary restrictions on disposing of property, decisions and/or orders of authorized state bodies or officials on suspending outgoing operations on a bank account, acts on attaching funds to a bank account, as well as judicial acts of courts of the Republic of Kazakhstan on recovery of funds, resolutions of judicial executors on requesting information on the numbers of bank accounts and presence of funds therein, information on the nature and value of property located in banks, organizations carrying out certain types of banking operations, as well as in insurance organizations, and attachment thereof.
A bank, organization carrying out certain types of banking operations, payment organization no later than ten working days from the date of receipt of a judicial act entering into legal force reimburse funds to a client recognized as a victim in a criminal case regarding fraud due to the implementation of a payment and/or transfer of funds in violation of requirements for conducting identification of the sender of funds, in the manner and cases established by a normative legal act of the National Bank of the Republic of Kazakhstan.

Article 59. Transitional Provisions

A payment document presented by a bank and an organization carrying out certain types of banking operations before the introduction of this Law for the recovery of overdue debt on a loan in accordance with a concluded loan agreement, credit line opening agreement, or any other document confirming the fact of a borrowing operation or issuance of a guarantee is equated to a payment claim and is subject to execution in the manner determined by this Law.
Legal entities carrying out activities in providing payment services, as well as payment system operators, must bring their activities into compliance with the requirements of this Law within six months after the day of its first official publication.
Requirements provided for in paragraph 5 and part one of paragraph 6 of Article 5 of this Law apply to relations arising before the introduction of this Law.
Acted until June 1, 2017.

Article 60. Procedure for introducing this Law into action

This Law is introduced into action after the expiration of thirty calendar days from the day of its first official publication, except:
1) paragraph 6 of Article 32, which is introduced into action from January 1, 2017;
2) paragraphs 8, 9 and 10 of Article 13, Articles 47 and 48, which are introduced into action from June 1, 2017;
2-1) the third sentence of part two of paragraph 6 of Article 35, which is introduced into action from July 1, 2017;
3) the fourth sentence of part two of paragraph 6 of Article 35, which is introduced into action from January 1, 2020;
4) paragraph 3 of Article 2, which is introduced into action from December 16, 2020.
Part one of paragraph 2 and part one of paragraph 5 of Article 46 and paragraph 4 of Article 59 act until June 1, 2017.
Recognize as having lost force the Law of the Republic of Kazakhstan of June 29, 1998 "On Payments and Transfers of Funds" (Vedomosti Parlamenta Respubliki Kazakhstan, 1998 g., № 11-12, st. 177; № 24, st. 445; 2000 g., № 3-4, st. 66; 2003 g., № 4, st. 25; № 10, st. 49, 51; № 15, st. 138; 2004 g., № 23, st. 140; 2005 g., № 14, st. 55; 2006 g., № 11, st. 55; 2008 g., № 23, st. 114; 2009 g., № 17, st. 81; № 19, st. 88; 2010 g., № 7, st. 28; 2011 g., № 13, st. 116; 2012 g., № 2, st. 14; № 10, st. 77; № 13, st. 91; 2013 g., № 10-11, st. 56; 2014 g., № 1, st. 9; № 11, st. 61; № 19-I, 19-II, st. 96; № 21, st. 122; 2015 g., № 15, st. 78; № 20-IV, st. 113; № 22-I, st. 143; № 22-VI, st. 159).