Law of the Republic of Kazakhstan No. 11-VI of July 26, 2016 'On Payments and Payment Systems'

Source: Information System "PARAGRAPH"

LAW
OF THE REPUBLIC OF KAZAKHSTAN
On Payments and Payment Systems
(as amended and supplemented as of 19.03.2026)

See amendments:
Law of the Republic of Kazakhstan dated 09.01.26 No. 256-VIII (enters into force on July 11, 2026); Law of the Republic of Kazakhstan dated 16.01.26 No. 259-VIII (enters into force on July 1, 2026, and July 18, 2026)

See: Resolution of the Prime Minister of the Republic of Kazakhstan dated August 20, 2016 No. 68-r "On measures to implement the laws of the Republic of Kazakhstan dated July 26, 2016 'On Payments and Payment Systems' and 'On Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan on Payment and Payment System Issues'"

Throughout the text, the words "and terrorism financing" and "and terrorism financing" are replaced respectively with the words "financing of terrorism and financing of the proliferation of weapons of mass destruction" and "financing of terrorism and financing of the proliferation of weapons of mass destruction" in accordance with the Law of the Republic of Kazakhstan dated 19.09.25 No. 219-VIII (entered into force on November 20, 2025) (see old version).

The Preamble is excluded in accordance with the Law of the Republic of Kazakhstan dated 30.06.25 No. 205-VIII (entered into force on August 31, 2025) (see old version).

Chapter 1. GENERAL PROVISIONS

Article 1. Basic Terms Used in this Law

The following basic terms are used in this Law:

current account - a bank account opened by a bank or an organization carrying out certain types of banking operations based on a bank account agreement;
information banking services - services provided by a payment service provider servicing a client's bank account to provide the client or a third party, upon the client's order and with the client's consent, with information about the balance and/or movement of funds in their bank account, about payments and/or money transfers made through this account, and other information upon the client's request or under a contract concluded between the client and the payment service provider;
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 to carry out payments and/or money transfers;
money transfer - the sequential execution by a payment service provider of a client's instruction to transfer funds, related to carrying out a payment or other purposes;
sender of funds - a person on whose behalf a payment and/or money transfer is carried out;
sender's bank - a bank or an organization carrying out certain types of banking operations servicing the sender of funds;
permanent instruction of the sender of funds - a request by the sender of funds to the sender's bank to carry out regular payments and/or money transfers in favor of one or more beneficiaries on their behalf in accordance with the conditions and details specified in this request;
Article supplemented with sub-item 7-1 in accordance with the Law of the Republic of Kazakhstan dated 12.07.22 No. 138-VII (entered into force on September 12, 2022)

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7-1) bank - a participant of the International Financial Center "Astana" - a participant of the International Financial Center "Astana" having 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";
Article supplemented with sub-item 7-2 in accordance with the Law of the Republic of Kazakhstan dated 21.05.24 No. 86-VIII (entered into force on July 22, 2024)

7-2) payment transaction with signs of fraud - a payment and/or money transfer (including an attempt to make such a payment and/or money transfer, a payment and/or money transfer in the process of execution) carried out as a result of actions by third parties aimed at stealing the client's funds by deception or abuse of trust;
Article supplemented with sub-item 7-3 in accordance with the Law of the Republic of Kazakhstan dated 21.05.24 No. 86-VIII (entered into force on July 22, 2024); stated in the edition of the Law of the Republic of Kazakhstan dated 30.06.25 No. 205-VIII (entered into force on August 31, 2025) (see old version)

7-3) data exchange center for payment transactions with signs of fraud (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 - anti-fraud center);

outsourcing - transfer by a payment service provider to third parties based on a contract for the provision of services of the execution of information technology functions necessary to ensure the provision of payment services by the payment service provider (outsourcing agreement);
Article will be supplemented with sub-items 8-1, 8-2 in accordance with the Law of the Republic of Kazakhstan dated 16.01.26 No. 259-VIII (enters into force on July 18, 2026)
interbank money transfer system - a payment system designed to carry out payments and/or money transfers between its participants using funds located in correspondent accounts opened in the National Bank of the Republic of Kazakhstan, by individual execution of each instruction of its participants with the completion of money transfers within the business day;
interbank clearing system - a payment system designed to carry out payments and/or money transfers between its participant banks, organizations carrying out certain types of banking operations, by multilateral clearing of participants' instructions;
Article will be supplemented with sub-item 10-1 in accordance with the Law of the Republic of Kazakhstan dated 16.01.26 No. 259-VIII (enters into force on July 18, 2026)
Article supplemented with sub-item 10-2 in accordance with the Law of the Republic of Kazakhstan dated 16.01.26 No. 259-VIII (entered into force on March 19, 2026)

10-2) interbank payment card system - a payment system designed to carry out interbank payments and/or money transfers, including processing and clearing of operations carried out within the territory of the Republic of Kazakhstan using payment cards issued by second-level 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;

bank account - a method of reflecting and accounting for the movement of a client's 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 services;
direct debit of a bank account - the 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 prior permission from the sender of funds for such withdrawal;

Source: Information System "PARAGRAPH"

initiator - a person presenting an instruction for execution;
beneficiary - a person in whose favor a payment and/or money transfer is carried out;
beneficiary's bank - a bank or an organization carrying out certain types of banking operations servicing the beneficiary;
value date - a date specified by the initiator of a payment and/or money transfer in a payment document, on which funds should be credited to the beneficiary's bank account;
registration - inclusion of a payment organization in the register of payment organizations;
savings account - a bank account opened by a bank or an organization carrying out certain types of banking operations based on a bank deposit agreement;
consolidated payment order - a payment order used to carry out a payment and/or money transfer from one sender of funds to several beneficiaries serviced in one bank, or from several senders of funds serviced in one bank to one beneficiary;
sender - a sender of funds or a beneficiary who gives an instruction;
assessment of the functioning of a systemically important or significant payment system - a complex of measures carried out by the operator of a payment system, the operational center of a 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;
monitoring of systemically important payment systems - a process of tracking and observing systemically important 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 carrying out payments and/or money transfers, within the framework of supervision (oversight) over payment systems;
systemically important payment system - a payment system whose uninterrupted operation contributes to the stable functioning of the financial market of the Republic of Kazakhstan, and the stoppage (failures) of which can lead to the emergence of risks in the financial market of the Republic of Kazakhstan;
collection order - a payment document used to withdraw funds from a sender's bank account without their consent;
client - a physical or legal person, a branch or representative office of a legal person, receiving a payment service;
clearing - a process of collecting, reconciling and offsetting mutual monetary claims and obligations, as well as determining the net positions of participants in this process;
correspondent account - a bank account of a bank or an organization carrying out certain types of banking operations opened based on a correspondent account agreement to perform operations of a bank or an organization carrying out certain types of banking operations and its (their) clients;
payment service provider - a subject of the payment services market providing a payment service;
third-party payment service provider - a payment service provider not servicing a client's bank account and providing the client with electronic banking services through their own remote access systems;
significant payment service provider - a payment service provider meeting the criteria established by this Law;

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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;
Sub-item 32 stated in the edition of the Law of the Republic of Kazakhstan dated 03.07.19 No. 262-VI (entered into force on January 1, 2020) (see old version)
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 carrying out 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;
payment service - a service provided by a payment service provider to a client in accordance with Article 12 of this Law;
remote access system - a set of telecommunications, digital and information technologies, software and equipment ensuring communication between the client and the payment service provider for obtaining electronic banking services;
payment sub-agent - a legal entity or individual entrepreneur who have concluded an agency agreement with a payment agent for the provision of payment services;
Article supplemented with sub-item 35-1 in accordance with the Law of the Republic of Kazakhstan dated 30.12.20 No. 397-VI (entered into force on July 1, 2021)

35-1) instant payment system - a payment system designed for round-the-clock carrying out of payments and/or money transfers between its participants, using funds located in the National Bank of the Republic of Kazakhstan, ensuring instant crediting of funds in favor of the beneficiary of a payment and/or money transfer;
Article supplemented with sub-item 35-2 in accordance with the Law of the Republic of Kazakhstan dated 31.12.21 No. 100-VII (entered into force on March 1, 2022)

35-2) mobile payments - cashless payments initiated in electronic form in favor of a physical person registered as an individual entrepreneur, a person engaged in private practice, a legal entity for payment for the purchase of goods, performance of works, provision of services, received via a mobile application or other equipment (device) designed for accepting payments using a barcode;
Article supplemented with sub-item 35-3 in accordance with the Law of the Republic of Kazakhstan dated 19.09.25 No. 219-VIII (entered into force on November 20, 2025)

35-3) impeccable business reputation - the presence of facts confirming professionalism, integrity, including the absence of facts of the person committing unlawful actions (inaction) that led to insolvency, resulting in forced liquidation of a financial organization, or to a bank being classified as insolvent banks, the absence of an unserved or expunged criminal record, 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, banking and/or insurance holding and being 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 funds obtained criminally, financing of terrorism and financing of the proliferation of weapons of mass destruction, based on information from the authorized body for financial monitoring;

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

Source: Information System "PARAGRAPH"

business day - a period of time during which a payment system operator or a payment service provider accepts and processes instructions, orders to suspend the execution of instructions or withdraw such instructions;
other payment system - a payment system that is not a systemically important or significant payment system;
Article supplemented with sub-item 38-1 in accordance with the Law of the Republic of Kazakhstan dated 16.01.26 No. 259-VIII (entered into force on March 19, 2026)

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;

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 (single-use) identification code, biometric identification means) established by the payment service provider to identify the client and agreed with them;
net position - the value of the difference between the sum of instructions of all participants of a payment system directed in favor of one participant of a payment system, and the sum of instructions of this participant of a payment system directed in favor of the other participants of a payment system, in the case when settlements in a payment system are carried out by multilateral clearing of participants' instructions of a 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;
payment - the execution of a monetary obligation using cash and/or payment instruments;
Changes made to sub-item 42 in accordance with the Law of the Republic of Kazakhstan dated 02.07.18 No. 168-VI (see old version)
payment agent - a legal entity or individual entrepreneur who have 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;
participants of a payment and/or money transfer - physical and legal persons, branches and representative offices of legal persons, having rights and/or obligations under a payment and/or money transfer;
supervision (oversight) over payment systems - the activity of the National Bank of the Republic of Kazakhstan carried out to ensure the effective, safe and uninterrupted operation of payment systems;
payment system - a set of relations ensuring the carrying out of payments and/or money transfers through the interaction of the operator of a payment system and/or participants of a payment system by applying procedures, infrastructure and rules established by the operator of this payment system;
Changes made to sub-item 46 in accordance with the Law of the Republic of Kazakhstan dated 30.12.20 No. 397-VI (entered into force on July 1, 2021) (see old version); stated in the edition of the Law of the Republic of Kazakhstan dated 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old version)
participant of a payment system - a bank or an organization carrying out certain types of banking operations that have concluded with the operator of a payment system an agreement on participation in a payment system, as well as in cases and in the manner determined by the National Bank of the Republic of Kazakhstan, - a payment organization that has concluded with the operator of a payment system an agreement on participation in a payment system;
self-assessment of the functioning of a payment system - a complex of measures carried out by the operator of a payment system, the operational center of a payment system to determine the compliance of this payment system with international standards;
infrastructure of a payment system - a set of objects, resources and technologies ensuring the functioning of a payment system;

Source: Information System "PARAGRAPH"

operator of a payment system - a legal entity carrying out activities to ensure the functioning of a payment system and performing the obligations established by this Law related to such activity;
operational center of a payment system - a legal entity to which the operator of a payment system has entrusted the implementation of operational and technological functions based on an agreement concluded between this legal entity and the operator of a payment system, or by delegating to it powers in the case where the operator of a payment system with respect to this legal entity carries out functions to regulate its activity and make decisions on changing the legal status of the named organization;
payment card - an electronic payment instrument that contains information allowing its holder to make payments and/or money transfers or receive cash, or to exchange currency and other operations defined by the issuer of the payment card and on their terms, via electronic terminals or other communication channels;
issuance of a payment card - a payment service providing for the issuance of a payment card to the holder of a payment card;
issuer of a payment card - a bank or the National Post Operator carrying out the issuance of payment cards;
payment document - a document prepared on paper or formed in electronic form, on the basis of or with the help of which a payment and/or money transfer is carried out;
payment instrument - a payment document or electronic payment instrument, on the basis of or using which a payment and/or money transfer is carried out;
completion (finality) of a payment and/or money transfer - a point in time at which the obligation of a participant in a payment and/or money transfer is considered fulfilled;
payment order - a payment document used in carrying out payments and/or money transfers between a client and their servicing bank or organization carrying out certain types of banking operations, and/or servicing a client's bank account;
payment demand - a payment document presented by a beneficiary or a beneficiary's bank to a sender's bank for payment of the amount of funds specified in the payment document, from the sender's bank account;
payment order - a payment document providing for the instruction of a sender of funds to their bank or an organization carrying out certain types of banking operations to transfer a certain amount of funds specified in this payment document in favor of a beneficiary;
register of payment organizations - a single list of payment organizations that have undergone registration;
Changes made to sub-item 61 in accordance with the Law of the Republic of Kazakhstan dated 03.07.20 No. 359-VI (see old version)
payment organization - a legal entity of the Republic of Kazakhstan created in the organizational and legal form of a limited liability company, which in accordance with this Law is authorized to carry out activities to provide payment services;
payment notice - a payment document used in carrying out payments and/or money transfers without opening a bank account and containing an instruction from a sender of funds to their servicing bank or organization carrying out certain types of banking operations to transfer funds in favor of a beneficiary in the amount specified in the payment document;
Article supplemented with sub-items 62-1 - 62-3 in accordance with the Law of the Republic of Kazakhstan dated 16.01.26 No. 259-VIII (entered into force on March 19, 2026)

Source: Information System "PARAGRAPH"

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 conducting payments and money transfers 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 Data Exchange Center for Identification Data, which are its components, and accompanying information 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 managing the national digital financial infrastructure (hereinafter referred to as the 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;

Article will be supplemented with sub-items 62-4 - 62-11 in accordance with the Law of the RK of January 16, 2026 No. 259-VIII (comes into force on July 18, 2026)

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;
drawer - a person who issued a check;
payee - a person in whose favor a check was issued, including the drawer, if the check was issued by him to himself;
foreign payment system - a payment system, the operator of which is a non-resident of the Republic of Kazakhstan;
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;
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;
agent of the electronic money system (hereinafter referred to as an agent) - a bank, an 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 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;
operator of the electronic money system - a bank, an 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 the implementation of 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;

Article supplemented with sub-item 70-1 in accordance with the Law of the RK of July 03, 2020 No. 359-VI

70-1) electronic wallet of electronic money (hereinafter referred to as an electronic wallet) - a method of accounting and storing electronic money, providing for their disposal;

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 equal amount of money according to their nominal value;

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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;
issuance of electronic money - a payment service providing for the issue of electronic money by the issuer of electronic money to an individual or an agent in exchange for an equal amount of money according to their nominal value;
issuer of electronic money - a provider of payment services having the right under this Law to issue and redeem electronic money;
electronic banking services - services related to client access to their bank account via remote access systems for obtaining payment services and informational banking services;
electronic terminal - an electromechanical device intended for making payments and (or) money transfers or operations for receiving and (or) issuing cash, 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;
electronic payment instrument - a payment card or other electronic carrier containing information that allows the sender of money, who has 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;
holder of the electronic payment instrument - an individual using or owning the electronic payment instrument in accordance with the conditions of the contract concluded with the issuer of the electronic payment instrument;
issuer of the electronic payment instrument - a legal entity carrying out the issuance of the electronic payment instrument;
escrow account - a current or savings account opened by a client in the name of a third party with a restriction on the right of this person to carry out outgoing operations on the bank account until the occurrence or fulfillment of conditions defined 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 implementation of payments and money transfers in the Republic of Kazakhstan, as well as in the process of functioning of payment systems and the market for payment services.

Paragraph 2 amended in accordance with the Law of the RK of July 02, 2020 No. 356-VI (see old version)

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 Counteracting 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 aforementioned contracts and business customs in part not contradicting the legislation of the Republic of Kazakhstan.

Paragraph 3 comes into force on December 16, 2020

Paragraph 3 amended in accordance with the Law of the RK of June 30, 2025 No. 205-VIII (comes into force on July 1, 2025) (see old version)

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The provisions of this Law applicable to banks extend to branches of banks - non-residents of the Republic of Kazakhstan created on the territory of the Republic of Kazakhstan.

Article supplemented with paragraph 4 in accordance with the Law of the RK of July 02, 2018 No. 168-VI; redacted in the edition of the Law of the RK of July 03, 2019 No. 262-VI (comes into force on January 1, 2020) (see old version)

To subjects of the market for payment services and other legal entities carrying out activities within the framework of the special regime of regulation 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 regime of regulation.

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, then the rules of the international treaty apply.

Law supplemented with Article 3-1 in accordance with the Law of the RK of June 30, 2025 No. 205-VIII (comes into force on August 31, 2025)

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

The purpose of this Law is to regulate public relations arising in the sphere of organization and functioning of payment systems, regulation of payment systems and oversight thereof, regulation of the market for payment services, control and supervision thereof, as well as the implementation of payments and (or) money transfers in the Republic of Kazakhstan.
The tasks of this Law are:

regulation of the market for payment services, activities of providers of payment services and operators of payment systems related to the implementation of payments and money transfers, provision of payment services;
development and establishment of requirements for the activities of providers of payment services, operators of payment systems for participation in the market for payment services, to the procedure for interaction of subjects of the market for payment services and provision of payment services;
implementation of control and supervision over the activities of providers of payment services, operators of payment systems within their competence;
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 market for payment services, implementation of payments and money transfers, is based on the principles:

legality;
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;
ensuring economic security and independence of the national payment market.

Source: Information System "PARAGRAPH"

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

Paragraph 1 redacted in the edition of the Law of the RK of June 30, 2025 No. 205-VIII (comes into force on August 31, 2025) (see old version)

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 market for payment services, control and supervision 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 market for payment services, 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.

Paragraph 3 redacted in the edition of the Law of the RK of June 30, 2025 No. 205-VIII (comes into force on August 31, 2025) (see old version)

The list of subordinate 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 within its competence is determined in the Regulation on the National Bank of the Republic of Kazakhstan.

Law supplemented with Article 4-1 in accordance with the Law of the RK of July 03, 2019 No. 262-VI (comes into force on January 1, 2020)

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 carries out, within its competence, control and supervision 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, for the purpose of protecting the interests of consumers of financial services.

Law supplemented with Chapter 1-1 in accordance with the Law of the RK of January 16, 2026 No. 259-VIII (comes into force on March 19, 2026)

Chapter 1-1. NATIONAL DIGITAL FINANCIAL INFRASTRUCTURE

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

The main tasks of the national digital financial infrastructure:

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, operations using the digital tenge;
conducting biometric authentication of clients of financial and payment organizations;
assisting in combating fraud by exchanging data between participants on payment transactions with signs of fraud and other payment transactions;
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;

Source: Information System "PARAGRAPH"

ensuring a secure environment for information exchange between providers of payment services via open application programming interfaces;
collection, storage and processing of consent of clients of participants of the financial market and the market for payment services to provide data to third-party providers of payment services.

The national digital financial infrastructure functions on the principles:

equal and open access of participants to components of the national digital financial infrastructure;
ensuring security when interacting with participants of the national digital financial infrastructure;
ensuring protection of the rights of consumers of payment services;
promoting the development of innovations and stimulating competition in the financial market and the market for payment services.

Components of the national digital financial infrastructure are:

national payment system;
open banking system;
anti-fraud center of the National Bank of the Republic of Kazakhstan;
Data Exchange Center for Identification Data;
digital tenge platform;
other components determined by the National Bank of the Republic of Kazakhstan.

The procedure for functioning and provision of services by the Data Exchange Center for Identification Data is established by a normative legal act of the National Bank of the Republic of Kazakhstan regulating the provision of electronic banking services.

Paragraph 5 comes into force on July 18, 2026

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.

For the purpose of ensuring the functioning of the national digital financial infrastructure, the National Bank of the Republic of Kazakhstan:

determines the components of the national digital financial infrastructure;
approves the rules, features of functioning of components of the national digital financial infrastructure and their management;
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;
implements information security measures regarding components of the national digital financial infrastructure;
organizes information exchange between participants within the framework of components of the national digital financial infrastructure;
concludes contracts with participants of the national digital financial infrastructure;
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 entrust 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 system for money transfers, an interbank clearing system and other 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.
The national payment system is aimed at:

implementation of payments and (or) money transfers for operations of the state's monetary policy;
implementation of payments and (or) money transfers between financial organizations using money held on correspondent accounts opened in the National Bank of the Republic of Kazakhstan;
ensuring the completion of settlements resulting from clearing in payment systems functioning on the territory of the Republic of Kazakhstan, determined by the rules of these payment systems;
implementation on the territory of the Republic of Kazakhstan interbank payments and (or) money transfers, including processing and clearing, using payment cards issued by resident second-level banks of the Republic of Kazakhstan and organizations carrying out certain types of banking operations, via the interbank payment card system;
implementation of instant mobile payments and (or) money transfers between customers of participants of the interbank system for mobile payments.

Paragraph 3 comes into force on July 18, 2026

Chapter 2. PAYMENT SYSTEMS

See changes to Article 5 - Law of the RK of January 16, 2026 No. 259-VIII (comes into force on July 18, 2026)

Article 5. Basic Requirements for Payment Systems

The procedure for organizing 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:

procedures for functioning of the payment system, including the procedure for implementing money transfers in the payment system, application of formats of payment messages, schedule of work of the payment system and risk management system in the payment system;
description of services provided by the operator of the payment system and operations carried out in the payment system;
conditions for participation in the payment system;
procedure for interaction of participants of the payment system with its operator;
procedures for revocation of instructions on payment and (or) money transfer;
procedure for resolving insolvency of participants of the payment system;
procedure for compliance with information security measures;
measures taken against a participant of the payment system for violation of the rules of the payment system;

Paragraph supplemented with sub-item 9 in accordance with the Law of the RK of July 03, 2020 No. 359-VI

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 an exclusive participation condition), 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).
Rules of a payment system, amendments and additions to these rules, information about tariffs (cost of services) of the operator of the payment system and about all changes to these tariffs

Source: Information System "PARAGRAPH"
(costs of services) shall be published on the internet resource of the payment system operator within fifteen working days after their approval by the payment system operator.
Changes to tariffs (cost of services) of the payment system operator are made by it on the basis of financial calculations substantiating such changes.
Requirements provided for by paragraphs 5 and 6 of Article 5 apply to relations arising before the entry into force of this Law, in accordance with Article 59.

A payment system operator, except for the National Bank of the Republic of Kazakhstan, within ten calendar days from the date of commencement of the functioning of the payment system on the territory of the Republic of Kazakhstan, informs the National Bank of the Republic of Kazakhstan about the creation on the territory of the Republic of Kazakhstan of its own payment system or the commencement of functioning on the territory of the Republic of Kazakhstan of a foreign payment system by submitting the following documents:

Subparagraph 1 amended in accordance with the Law of the Republic of Kazakhstan dated 03.07.20 No. 359-VI (see old version).

information on the name, postal address, and location of the payment system operator;

Subparagraph 1-1 added to the paragraph in accordance with the Law of the Republic of Kazakhstan dated 03.07.20 No. 359-VI.
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 documents provided for by paragraph 4 of this Article are placed;
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;

Subparagraph 5 added to the paragraph in accordance with the Law of the Republic of Kazakhstan dated 03.07.20 No. 359-VI.
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.

Paragraph 6 amended in accordance with the Law of the Republic of Kazakhstan dated 03.07.20 No. 359-VI (see old version); Law of the Republic of Kazakhstan dated 13.05.20 No. 325-VI (entered into force on November 15, 2020) (see old version).

In the event of a bank or an organization carrying out certain types of banking operations participating 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 by 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.

The contract (contracts) on the basis of which participation in a foreign payment system is carried out must provide for the procedure for obtaining by banks or organizations carrying out certain types of banking operations information and data on the beneficiary and sender of payments and/or money transfers, excluding 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 (see old version).
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 the 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.

Source: Information System "PARAGRAPH"

The procedure for resolving the insolvency of participants of payment systems must determine the methods of attracting funds to complete payments and/or money transfers.
Basic 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.
The 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.

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:

systemically important payment system;
important payment system;
other payment system.

The National Bank of the Republic of Kazakhstan classifies a payment system as a systemically important payment system if it meets all of the following criteria in aggregate:

payments and/or money transfers on monetary obligations of participants of the securities market of the Republic of Kazakhstan and/or the foreign exchange market of the Republic of Kazakhstan are carried out through this payment system;
payments and/or money transfers are carried out through this payment system for the purpose of conducting the state monetary and credit policy of the National Bank of the Republic of Kazakhstan.

The National Bank of the Republic of Kazakhstan classifies a payment system as an important payment system if it meets any of the following criteria, except for systems classified as systemically important payment systems:

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;
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;
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;
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;
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;

Subparagraph 6 added to the paragraph in accordance with the Law of the Republic of Kazakhstan dated 03.07.20 No. 359-VI.
6) the share of the number of payment cards issued within the framework of this payment system 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.

Source: Information System "PARAGRAPH"

The National Bank of the Republic of Kazakhstan classifies a payment system as a systemically important, important, or other payment system based on one of the following methods:

Subparagraph 1 restated in the edition of the Law of the Republic of Kazakhstan dated 03.07.20 No. 359-VI (see old version).

independently, based on the results of an analysis of the functioning of payment systems conducted after the end of the calendar year;
based on a written application of the payment system operator with attached documents confirming that the payment system meets the established criteria for significance.

In the event of classifying a payment system as a systemically important, important, or other payment system, the National Bank of the Republic of Kazakhstan within five working days:

includes this payment system in the registry of payment systems as a systemically important, important, or other payment system;
publishes this information on its internet resource;

Subparagraph 3 amended in accordance with the Law of the Republic of Kazakhstan dated 03.07.20 No. 359-VI (see old version).
3) notifies the payment system operator, except for the National Bank of the Republic of Kazakhstan, in writing about the classification of the payment system as a systemically important, important, or other payment system.

A payment system is classified as a systemically important, important, or other payment system from the date of entry of information by the National Bank of the Republic of Kazakhstan into the registry of payment systems.
See Rules for maintaining the registry of payment systems.

Article 7. Finality (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 such payment and/or money transfer was made.
The operator of a systemically important payment system guarantees the completion (finality) of a payment and/or money transfer in the payment system in real-time mode, providing for the processing and execution of instructions immediately upon their receipt in the payment system, or by the end of the current operating day.

Paragraph 3 restated in the edition of the Law of the Republic of Kazakhstan dated 27.12.19 No. 290-VI (see old version).

Payments and/or money transfers sent to a payment system by its participant before receiving a copy of the court decision on the application of debt restructuring procedures, rehabilitation procedures, 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 the payment system

Paragraph 1 amended in accordance with the Law of the Republic of Kazakhstan dated 30.12.20 No. 397-VI (entered into force on July 1, 2021) (see old version).

A legal entity that is not a payment system operator does not have the 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.

It is permitted to combine the functions of a payment system operator with the function of an electronic money system operator.

Payment system operator:

establishes the rules of the payment system and ensures compliance with them by participants of payment systems;
processes and issues payment and information messages of participants (to participants) of the payment system, individual execution of instructions, or clearing;

Source: Information System "PARAGRAPH"

concludes a contract with a participant of the payment system for participation in the payment system;
determines the risk management system in the payment system;
ensures the functioning of the payment system infrastructure;
ensures compliance with information security measures and business continuity;
ensures equal and open access of participants of the payment system to the services provided to them;
approves internal documents on the management of the activities of the payment system operator;
performs other duties based on contracts concluded with participants of the payment system.

It is permitted for the payment system operator to entrust the implementation of operational and technological functions to the operating center of the payment system.
Operational functions include functions provided for by subparagraph 2) of paragraph 2 of this Article. Technological functions include functions provided for by subparagraphs 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 the 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, during the functioning of the payment system, provides information to the National Bank of the Republic of Kazakhstan:

about approved amendments and additions to the rules of the payment system no later than fifteen working days before the date of entry into force of these amendments and additions;
about changes to tariffs (cost of services) of the payment system operator no later than fifteen working days before the date of entry into force of these changes.

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:

powers and regulations of the governing body;
powers of the highest, executive management bodies;
risk management system in the payment system;
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;
criteria for ensuring the efficiency of the payment system, by 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:

for identification, measurement, monitoring, and management of risks;
for ensuring the continuity of the payment system's activities and contains a plan for restoring the activities of the payment system operator.

The operator or operating center of a systemically important or important payment system provides information and reports to the National Bank of the Republic of Kazakhstan in the forms and order determined by the normative legal act of the National Bank of the Republic of Kazakhstan, including information on the volumes of payments made by significant clients of the participant of the payment system.

Paragraph 5 restated in the edition of the Law of the Republic of Kazakhstan dated 02.07.18 No. 168-VI (see old version).

A client of a participant of the payment system is classified as a significant client of the participant of a systemically important or important payment system if their share in the total volume of payments and/or money transfers carried out through this payment system during the year is ten or more than ten percent.
The operator or operating center of a systemically important or important payment system:

conducts an analysis of the needs of participants of payment systems regarding their satisfaction with the quality of services provided;
ensures the functioning of the feedback mechanism with participants of payment systems.

The operator or operating center of a systemically important or important payment system once a year no later than the first quarter of the year following the reporting period, publishes the results of the conducted analysis of the efficiency of the functioning of the payment system regarding the satisfaction of participants with the quality of services provided 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:

no less than once every three years for systemically important payment systems;
no less than once every five years for important payment systems.

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

The results of the conducted self-assessment of the functioning of payment systems are submitted by the operator of the 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 payment system operator 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, shall be published by the operator of the 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. Payment service providers

Payment services are provided by the following providers:

National Bank of the Republic of Kazakhstan;
banks;
organizations carrying out certain types of banking operations;
postal operator carrying out postal money transfers;
payment organizations;
payment agents;
payment sub-agents.

Source: Information System "PARAGRAPH"

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 payment service providers

The National Bank of the Republic of Kazakhstan classifies a payment service provider as a significant payment service provider if it meets any of the following criteria:

the payment service provider ensures the implementation of payments and/or money transfers in a systemically important or important payment system, operators of which 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;
the payment service provider 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;
the payment service provider ensures the provision of services for issuing, redeeming electronic money, and processing operations carried out with their use during the year in an amount not less than the indicator established by the National Bank of the Republic of Kazakhstan;
the payment service provider 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;
the payment service provider ensures the provision of services for money transfers 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;
the payment service provider 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;
the payment service provider ensures the organization and implementation of pension payments, benefit payments, social and other payments from the state budget or the State Social Insurance Fund;
the payment service provider ensures the provision of services not provided by other payment service providers in the payment services market of the Republic of Kazakhstan.

Paragraph 2 restated in the edition of the Law of the Republic of Kazakhstan dated 25.11.19 No. 272-VI (see old version).

The National Bank of the Republic of Kazakhstan classifies payment service providers as significant payment service providers independently based on the results of the conducted analysis of the payment services market.
In the event of classifying a payment service provider as significant, the National Bank of the Republic of Kazakhstan includes this payment service provider in the registry of significant payment service providers, notifies the payment service provider in writing within five working days, and publishes this information on its internet resource.
A significant payment service provider determines:

composition, powers, and regulations of the governing body;
powers of the governing body;
risk management system inherent in the activities of the significant payment service provider;
procedure for resolving conflicts of interest between the significant payment service provider and interested parties;
goals and objectives regarding client satisfaction with the quality of services provided.

The risk management system inherent in the activities of a significant payment service provider shall determine:

procedures for identifying, measuring, monitoring, and managing risks;
procedures for ensuring the continuity of payment service provision and a business recovery plan.

A significant payment service provider:

submits information on the payment services provided to the National Bank of the Republic of Kazakhstan in the manner determined by a normative legal act of the National Bank of the Republic of Kazakhstan;
ensures the conduct of an assessment of the quality of services provided and submits the results of the assessment to the National Bank of the Republic of Kazakhstan.

See: Rules for maintaining the register of significant payment service providers See amendments to Article 12 - Law of the RK of 16.01.26 No. 259-VIII (enters into force on July 18, 2026)

Article 12. Types of Payment Services

Types of payment services:

services for receiving and executing payments and (or) money transfers using a bank account;
services for receiving cash for crediting to bank accounts, including third-party accounts;
services for receiving cash for making a payment without opening a sender's bank account;
services for executing money transfers without opening a bank account;
services for issuing and redeeming electronic money;
services for issuing payment cards;
services for selling (distributing) electronic money and payment cards;
services for receiving and processing payments made using electronic money;
services for processing payments initiated by a client in electronic form and transmitting necessary information to a bank or an organization carrying out certain types of banking operations for the execution of a payment and (or) transfer or for receiving funds for such payments.

The following are not considered payment services:

services for transferring cash by a person making a payment (payer) to a person (persons) to whom the payer has obligations, carried out without the participation of a payment service provider;
services for collecting banknotes, coins, and valuables;
services for collecting and transferring funds for charitable or non-commercial activities;
services for carrying out exchange operations with cash foreign currency without opening a bank account;
services providing technological support for the provision of payment services, including those related to processing and storing data, authenticating recipients of payment services, as well as transferring for use and technological support of electronic terminals and equipment used in providing payment services;
services related to the issuance and use of electronic payment instruments intended for the purchase of goods or services provided by the issuer of electronic payment instruments or in its premises, or for the purchase of a specific type of good or service based on a contract concluded with the supplier (suppliers) of such type of good or service;
services providing information and technological interaction between the beneficiary - an individual entrepreneur, a legal entity, and a payment service provider when the latter transfers funds to the beneficiary for payments received from payers without the participation of third parties.

See amendments to Article 13 - Law of the RK of 16.01.26 No. 259-VIII (enters into force on July 18, 2026)

Article 13. Provision of Payment Services

Amendments to paragraph 1 made in accordance with the Law of the RK of 03.07.19 No. 262-VI (entered into force on January 1, 2020) (see old version)

The provision of payment services on the territory of the Republic of Kazakhstan without a corresponding license from the authorized body for regulation, control, and supervision of the financial market and financial organizations or registration with the National Bank of the Republic of Kazakhstan is prohibited.
The requirements established by the first part of this paragraph do not apply to the activities of payment agents and payment sub-agents, as well as payment service providers carrying out their activities without a license in accordance with the laws of the Republic of Kazakhstan.
Payment services are provided:
Subparagraph 1 is worded in the edition of the Law of the RK of 03.07.19 No. 262-VI (entered into force on January 1, 2020) (see old version)

those specified in paragraph 1 of Article 12 of this Law, - by banks having a license from 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, and by banks carrying out activities without a license from 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;
Subparagraph 2 is worded in the edition of the Law of the RK of 03.07.19 No. 262-VI (entered into force on January 1, 2020) (see old version)
those specified in subparagraphs 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, except for payment service providers specified in the second and third paragraphs of this subparagraph, having a license from the authorized body for regulation, control, and supervision of the financial market and financial organizations for transfer operations. In this case:

payment services specified in subparagraph 1) of paragraph 1 of Article 12 of this Law, - by an organization carrying out settlements for transactions with financial instruments, having a license from the authorized body for regulation, control, and supervision of the financial market and financial organizations for opening and maintaining client bank accounts;
payment services specified in subparagraphs 2), 3), 4), 5), 6), 7), 8), and 9) of paragraph 1 of Article 12 of this Law, - by the National Post Operator, and in the presence of a license from the authorized body for regulation, control, and supervision of the financial market and financial organizations for opening and maintaining client bank accounts - the payment service provided for in subparagraph 1) of paragraph 1 of Article 12 of this Law;

by a payment service postal operator, those specified in subparagraph 4) of paragraph 1 of Article 12 of this Law, when carrying out postal money transfers in compliance with the conditions established in paragraph 12 of this Article.
The procedure for providing the service for postal money transfers is regulated by the Law of the Republic of Kazakhstan "On Post";
by a payment organization having a registration number for the registration of payment services specified in subparagraphs 3), 7) - 9) of paragraph 1 of Article 12 of this Law;
by a payment agent and payment sub-agent for payment services specified in subparagraphs 2), 3), and 7) of paragraph 1 of Article 12 of this Law, having an agency contract 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.

Amendments to paragraph 3 made in accordance with the Law of the RK of 02.07.18 No. 168-VI (see old version); Law of the RK of 03.07.20 No. 359-VI (see old version)

A payment organization has the right to carry out activities for the provision of payment services as a payment agent of a bank or a payment sub-agent based on an agency contract for the provision of payment services concluded with a bank or a payment agent.
A payment organization provides payment services provided for in subparagraph 3) of paragraph 1 of Article 12 of this Law having a contract with the service provider.
The provision of payment services by a payment organization for receiving payments to the budget without opening a client's bank account is permitted in the presence of an agency contract 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 bank account for crediting funds exclusively for the provision of payment services provided for in subparagraph 3) of paragraph 1 of Article 12 of this Law. In contracts for the provision of payment services provided for in subparagraph 3) of paragraph 1 of Article 12 of this Law, the procedure for transferring funds 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 compensating 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 based on a contract concluded between the client and the payment service provider, which must contain the following essential conditions:

types and general characteristics of the payment services provided;
procedure and maximum term for providing the payment service;
amounts of fees and commissions charged or indication of an internet resource containing this information, and the procedure for their collection;
procedure for providing information about the payment service;
procedure for protective actions against unauthorized payments;
procedure for determining the exchange rate applied when providing the payment service in foreign currency;
conditions under which the payment service provider reserves the right to refuse to provide the payment service;
procedure for regulating issues regarding unauthorized payment services;
client's right to terminate the contract;
procedure for presenting claims and resolving disputed situations;
procedure and amounts of payments for compensation for damages due to unjustified refusal to execute or improper execution of instructions.
The payment service provider may provide additional conditions necessary for the provision of the payment service.

The payment service provider has the right to unilaterally change the conditions of the contract provided for in paragraph 4 of this Article in favor of improving them for the client.
The payment service provider does not have the right to unilaterally change in the direction of increase 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. The payment service provider for a payment service provided on a one-time basis through remote access systems ensures that the client is familiar with the essential conditions of the contract in Kazakh or Russian, provided for in paragraph 4 of this Article, before providing the payment service.
Before providing a payment service, the payment service provider ensures providing the client with information about the amount of the commission charged by the payment service provider in monetary terms for the provided payment service, except for cases provided for by a normative legal act of the National Bank of the Republic of Kazakhstan, when providing payment services through remote access systems.
See: Letter of the Department of Payment Systems and Digital Financial Technologies of the National Bank of the Republic of Kazakhstan dated November 4, 2025 No. ZH-2025-03652997 "Regarding the provision of information on the amount of commission when providing payment services through remote access systems"
The payment service provider provides the payment service only on the basis of and in accordance with the conditions of the client's instruction.
It is prohibited for the payment service provider to change the conditions and details of the client's instruction.

Paragraphs 8, 9, and 10 entered into force on June 1, 2017

To receive 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 ensure access for the third-party payment service provider to the bank account and client information in accordance with the requirements of a 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.
The payment service provider servicing the client's bank account must transfer information about the existence, bank account number, and operations on the client's bank account to third parties by order and with the consent of the client, confirmed by means of identification.
It is prohibited to charge a commission for providing a payment service from the amount of the payment and (or) money transfer, except for 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.
The payment service provider, when providing a payment service, ensures compliance with the following conditions:

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 the proliferation of weapons of mass destruction;
See: Requirements for Internal Control Rules for Combating the Legalization (Laundering) of Proceeds Obtained Criminaly and Terrorism Financing for Payment Organizations
the presence in the payment document for the payment and (or) money transfer and the transmission to the participant of the payment and (or) money transfer of details for the sender of funds and the beneficiary, provided for by the Law of the Republic of Kazakhstan "On Combating the Legalization (Laundering) of Proceeds Obtained Criminaly, Terrorism Financing, and Financing the Proliferation of Weapons of Mass Destruction", except for cases of providing payment services by a payment organization provided for in subparagraphs 3) and 7) of paragraph 1 of Article 12 of this Law;
preservation for five years after providing the payment service or closing the client's bank account of information allowing the identification of the sender of funds and (or) the beneficiary;
security of the client's identification means from access by third parties.

After providing the payment service (except for the payment service for issuing payment cards), the payment service provider provides 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 the payment service are established by a normative legal act of the National Bank of the Republic of Kazakhstan.

Amendments to paragraph 14 made in accordance with the Law of the RK of 11.12.23 No. 44-VIII (entered into force on February 11, 2024) (see old version)

The payment service provider ensures the confidentiality of information obtained in the course of providing payment services and does not allow their disclosure to third parties, except for cases provided for by the laws of the Republic of Kazakhstan.
The payment service provider, when providing payment services, collects and processes personal data with the consent of the subject of personal data, except for cases provided for by the Law of the Republic of Kazakhstan "On Personal Data and Their Protection".
The 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.
It is prohibited for a payment organization to carry out other entrepreneurial activities, except for the following types of activities:

purchase, sale, property lease of real estate;
advertising, marketing, consulting, and information services;
development, adaptation, modification, technical support of software;
Amendments to subparagraph 4 made in accordance with the Law of the RK of 03.07.20 No. 359-VI (see old version)
purchase, sale, property lease of electronic terminals, other devices, and equipment for processing and transmitting information on payments;
Amendments to subparagraph 5 made in accordance with the Law of the RK of 03.07.20 No. 359-VI (see old version)
related to the use of computing equipment and information technologies, including information and technical services, services for processing and transmitting payment data, creation and use of databases and information resources;
logistics and courier services, including performing agency and intermediary activities in these spheres;
creation and ensuring the security of information systems and networks;
development and implementation of cryptographic information protection means;
services for certifying the correspondence of the open key of an electronic digital signature to the closed key of an electronic digital signature, as well as confirming the validity of the registration certificate;
Subparagraph 10 added to the paragraph in accordance with the Law of the RK of 30.12.20 No. 397-VI (entered into force on July 1, 2021)
activities as a participant or operator of a payment system.

The payment service provider has the right to conclude an outsourcing contract with third parties.
In the event of 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 contract.
Outsourcing is not permitted or is terminated in the following cases:
Amendments to subparagraph 1 made in accordance with the Law of the RK of 03.07.19 No. 262-VI (entered into force on January 1, 2020) (see old version)

the emergence of a risk of the payment service provider violating 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 regulation, control, and supervision of the financial market and financial organizations from exercising functions of control and supervision over the payment services market;
if the third party does not meet the requirements necessary for ensuring the provision of payment services by the payment service provider;
the presence of a contradiction between outsourcing and the conditions imposed on payment service providers for carrying out activities for the provision of payment services;
annulment or change by outsourcing of the conditions on the basis of which the payment service provider was granted permission to carry out activities for the provision of payment services;
non-performance or improper performance by the third party of its obligations under the outsourcing contract.

The procedure for outsourcing is determined by the internal rules of the payment service provider and in accordance with the outsourcing contract.
The payment service provider bears civil liability for non-performance or improper performance by the third party of its obligations under the outsourcing contract.
The payment service provider, if necessary, terminates the outsourcing contract provided that the uninterruptedness and quality of providing payment services, as well as the interests of payment service recipients, are ensured.

Paragraph 19 added to the Article in accordance with the Law of the RK of 30.12.25 No. 246-VIII (entered into force on December 31, 2025)

The prohibition established by paragraph 15 of this Article for a payment organization does not apply to the activities 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 activities 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

Amendments to paragraph 1 made in accordance with the Law of the RK of 02.07.18 No. 168-VI (see old version)

A bank, an organization carrying out certain types of banking operations, or a payment organization may provide payment services to clients through a payment agent or payment sub-agent based on an agency contract 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) payment sub-agent is provided to the client upon compliance with the following requirements:

provision of the payment service on behalf of a bank or an organization carrying out certain types of banking operations, or a payment organization;
fulfillment of the conditions provided for in paragraph 12 of Article 13 of this Law;
providing the client with a document confirming the fact of providing the payment service and containing the necessary details;
charging 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 the payment sub-agent in accordance with the contract concluded with the payment agent, as well as the contract between the payment agent and the bank, organization carrying out certain types of banking operations, or payment organization;
providing the client with information provided for in paragraph 3 of this Article.

Before the start of providing a payment service by a payment agent and (or) payment sub-agent, the following information is provided to the client:

name of the payment service and address of the place of its provision;
Subparagraph 2 is worded in the edition of the Law of the RK of 02.07.18 No. 168-VI (see old version)

Source: Information system "PARAGRAPH"

name, identification number, contact details (location and legal address, telephone 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 it is indicated in the document certifying identity);
license number of the bank or organization carrying out certain types of banking operations for carrying out banking operations, or registration number of the account registration of the payment organization;
the amount of remuneration withheld by the payment agent and/or payment sub-agent from the client when providing a payment service (if charged).

The bank, organization carrying out certain types of banking operations, and payment organization must maintain 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.
The 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 the purpose of including them in the specified register in the manner determined by the contract between them.
The bank, organization carrying out certain types of banking operations, payment organization are obliged to monitor compliance by the payment agent with 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 by 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.
The payment agent is obliged to monitor compliance by the payment sub-agent with 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.
The bank, organization carrying out certain types of banking operations, payment organization that have concluded agency contracts for the provision of payment services provide information about these services, as well as about their payment agents and payment sub-agents to 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.
See: Letter of the Department of Payment Systems and Digital Financial Technologies of the National Bank of the Republic of Kazakhstan dated November 4, 2025 No. ZT-2025-03652864 "On determining the procedure for submitting information on payment services and agents"
The bank, organization carrying out certain types of banking operations, payment organization bear joint and several liability with the payment agent and payment sub-agent that have concluded agency contracts 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

Source: Information system "PARAGRAPH"

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 for the provision of 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 maintains accounting and reporting in accordance with the requirements of the legislation of the Republic of Kazakhstan on accounting and financial reporting.
See: Rules for organizing the activities of payment organizations

The Law is supplemented by Article 15-1 in accordance with the Law of the RK of 03.07.20 No. 359-VI

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 a 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 account registration.
The authorized capital of a payment organization is formed exclusively in cash in the national currency of the Republic of Kazakhstan.

Article 16. Account registration of a payment organization

Account 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 for the provision of payment services carried out by a payment organization without passing account registration in the National Bank of the Republic of Kazakhstan are illegal and entail liability established by the laws of the Republic of Kazakhstan.

Paragraph 2 is edited in the edition of the Law of the RK of 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old ed.)

To pass account registration, a payment organization submits to the National Bank of the Republic of Kazakhstan:

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);
copies of documents confirming the formation of the authorized capital;
charter;
a document determining the procedure for interaction between the payment organization and the corresponding bank or organization carrying out certain types of banking operations, carrying out money transfers for the provision of payment services;
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 assigned to conduct compliance control;
internal control rules for the purpose of combating the legalization (laundering) of proceeds obtained criminally, terrorism financing, and financing of the proliferation of weapons of mass destruction for payment organizations;
rules for the activities of the payment organization approved by the management body of the payment organization.

Source: Information system "PARAGRAPH"

The list of mandatory conditions for the rules for the activities of the payment organization is established by a normative legal act of the National Bank of the Republic of Kazakhstan.

Paragraph 3 has been amended in accordance with the Law of the RK of 25.11.19 No. 272-VI (see old ed.); Law of the RK of 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old ed.)

The National Bank of the Republic of Kazakhstan considers the application of the payment organization for account 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, when a payment organization passes account registration, assigns a registration number to the payment organization, makes a record in the register of payment organizations, and sends a written notification to the payment organization indicating the registration number about passing account registration within the time limit established by paragraph 3 of this article.
In case of refusal of account registration, the National Bank of the Republic of Kazakhstan sends a written notification to the payment organization about the refusal of account registration indicating the reason for the refusal within the time limit established by paragraph 3 of this article.
The register of payment organizations that have passed account 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 account registration was carried out within ten calendar days after the introduction of these changes.

Paragraph 8 of the article is supplemented in accordance with the Law of the RK of 01.07.22 No. 131-VII

Foreign structures without legal entity status registered in a foreign state (territory) 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 shares in the authorized capital of payment organizations.
Indirect ownership of shares in the authorized capital or ownership (voting) of shares in the authorized capital of a payment organization provides the opportunity to determine the decisions of the legal entity participant of the payment organization through ownership (voting) of shares in the authorized capital (shares) of other legal entities.

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

Refusal of account registration of a payment organization is made in the following cases:

submission of incomplete and/or unreliable information that should be reflected in the documents specified in paragraph 2 of Article 16 of this Law;
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;
if the head of the executive body of the payment organization does not meet the requirements established in Article 19 of this Law;

Subparagraph 4 has been amended in accordance with the Law of the RK of 02.04.19 No. 241-VI (entered into force on July 1, 2019) (see old ed.)

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 account registration.

Paragraph 2 has been amended in accordance with the Law of the RK of 25.11.19 No. 272-VI (see old ed.); Law of the RK of 03.07.20 No. 359-VI (see old ed.)

Source: Information system "PARAGRAPH"

In case of refusal of account registration, the legal entity has the right to submit an application for account registration again after eliminating the reasons that led to the refusal of account registration of the payment organization, or to decide to change its name or reorganization or liquidation.
Failure to eliminate the reasons that led to the refusal of account registration of the payment organization is a ground for refusing to consider the application again.
The 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

Paragraph 1 is edited in the edition of the Law of the RK of 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old ed.)

A payment organization is excluded from the register of payment organizations in the following cases:

systematic (three or more times within twelve consecutive calendar months) failure to submit information on payment services to the National Bank of the Republic of Kazakhstan;
submission of unreliable information on payment services or unreliable information that should be reflected in the documents specified in paragraph 2 of Article 16 of this Law, which affects the decision on account registration of the payment organization;
systematic (three or more times within twelve consecutive calendar months) violation of the requirements 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;
non-implementation by the payment organization included in the register of payment organizations of activities for the provision of payment services for six consecutive calendar months;
discovery of circumstances provided for in subparagraphs 3) and 4) of paragraph 1 of Article 17 of this Law;
entry into legal force of a court act on termination of activities of the payment organization;
inclusion of information on the termination of activities of the payment organization in the National Register of Business Identification Numbers;
adoption by the payment organization of a decision on voluntary termination of its activities by 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 is attached to the application simultaneously;
obstruction by the payment organization of an inspection by the National Bank of the Republic of Kazakhstan or non-fulfillment of the prescriptions of the National Bank of the Republic of Kazakhstan;
receipt of an application from the 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;
carrying out activities prohibited for payment organizations in accordance with the requirements of this Law.

Paragraph 2 has been amended in accordance with the Law of the RK of 03.07.20 No. 359-VI (see old ed.)

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 account registration.

Source: Information system "PARAGRAPH"

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 about its exclusion from the register of payment organizations.
In case of exclusion from the register of payment organizations, the payment organization is obliged to make a decision to change its name if it contains the words "payment organization" or to reorganize or liquidate the payment organization within thirty calendar days from the moment of notification by the National Bank of the Republic of Kazakhstan about exclusion from the register of payment organizations.

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.

Paragraph 2 is edited in the edition of the Law of the RK of 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old ed.)

It is prohibited to elect or appoint as the head of the executive body of a payment organization a person:

who was the head, member of the management body, head, member of the executive body, chief accountant of a financial organization within a period of not more than one year before the decision to apply a resolution regime to the bank, decision on revocation of the license of a financial organization, leading to its liquidation and/or termination of activities in the financial market, or entry into legal force of a court act on compulsory liquidation of a financial organization or recognition of it as bankrupt 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;
who previously was the head of the executive body, founder or first head of the founder - legal entity of a payment organization, major participant or first head of a major participant - legal entity of a payment organization within a period of not more than five years before its exclusion from the register of payment organizations on the grounds provided for in subparagraphs 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 an entry into legal force court act or recognized as bankrupt in the manner established by the legislation of the Republic of Kazakhstan;
having an unexpunged or unpaid criminal record.

The National Bank of the Republic of Kazakhstan issues an order to replace the head of the executive body of a payment organization if:

the person does not meet the requirements of this article;
the payment organization submitted unreliable information or forged documents about the head of the executive body of the payment organization.

Paragraph 4 of the article is supplemented in accordance with the Law of the RK of 01.07.22 No. 131-VII

It is prohibited to elect or appoint as the head of the executive body of a payment organization a person who is on the list of organizations and persons associated with terrorism financing and extremism, as well as on 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.

Source: Information system "PARAGRAPH"

The Law is supplemented by Article 19-1 in accordance with the Law of the RK of 01.07.22 No. 131-VII; edited in the edition of the Law of the RK of 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old ed.)

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:

with respect to whom there is an unexpunged or unpaid criminal record or a court decision entering into legal force on the application of criminal punishment in the form of deprivation of the right to hold the position of a managerial worker of a financial organization, banking and/or insurance holding and to be a major participant (major shareholder) of a financial organization;
who are on the list of organizations and persons associated with terrorism financing and extremism, as well as on 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;
who were the head, member of the management body, head, member of the executive body, chief accountant of a financial organization, head or deputy head of the branch of a bank - non-resident of the Republic of Kazakhstan, branch of a reinsurance (insurance) organization - non-resident of the Republic of Kazakhstan, branch of a insurance broker - non-resident of the Republic of Kazakhstan within a period of not more than one year before the decision by the authorized body to apply a resolution regime to the bank, decision on revocation of the license of a financial organization, branch of a bank - non-resident of the Republic of Kazakhstan, branch of a reinsurance (insurance) organization - non-resident of the Republic of Kazakhstan, 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 it as bankrupt 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 activities of a branch of a bank - non-resident of the Republic of Kazakhstan, branch of a reinsurance (insurance) organization - non-resident of the Republic of Kazakhstan in cases established by the laws of the Republic of Kazakhstan;
who were the founder or first head of the founder - legal entity of a payment organization, major participant or first head of a major participant - legal entity and/or head of the management body, head of the executive body of a payment organization within a period of not more than five years before its exclusion from the register of payment organizations on the grounds provided for in subparagraphs 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 an entry into legal force court act or recognized as bankrupt in the manner established by the legislation of the Republic of Kazakhstan;
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 the decision of the shareholders (participants) of payment organizations with the consent of the National Bank of the Republic of Kazakhstan.

Source: Information system "PARAGRAPH"

When making a decision on the voluntary reorganization of a payment organization,
the National Bank of the Republic of Kazakhstan submits for approval:

a decision on the voluntary reorganization of a payment organization;
documents describing the proposed terms, forms, procedures and deadlines
for the voluntary reorganization of a payment organization;
repealed in accordance with the Law of the Republic of Kazakhstan of 25.11.19 No. 272-VI (see old version)
an agreement on accession (merger) signed by the heads of the executive bodies
of the reorganized payment organizations;
an audit report in accordance with the legislation of the Republic of Kazakhstan on
audit activity;
repealed in accordance with the Law of the Republic of Kazakhstan of 25.11.19 No. 272-VI (see old version)
rules for carrying out the activities of a payment organization formed as a result of voluntary
reorganization.
Paragraph 3 was amended in accordance with the Law of the Republic of Kazakhstan of 25.11.19 No. 272-VI (see old version)

The National Bank of the Republic of Kazakhstan considers the documents submitted,
indicated in paragraph 2 of this article, and within ten working days from the day of their submission sends a written notification of the decision taken.
Reorganized payment organizations within fifteen calendar days from the day
of receiving the consent of the National Bank of the Republic of Kazakhstan to conduct voluntary reorganization are obliged to inform about the reorganization being carried out all their clients and suppliers of payment services by publishing a corresponding announcement in the media, including on their Internet resource.
Accounting registration of a payment organization formed as a result of voluntary reorganization
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 payment organization formed as a result of voluntary reorganization into the register of payment organizations.
The National Bank of the Republic of Kazakhstan refuses to give consent to
voluntary reorganization of payment organizations in cases:

if the head of the executive body of the payment organization formed as a result of voluntary
reorganization does not meet the requirements of Article 19 of this Law; Subparagraph 2 was amended in accordance with the Law of the Republic of Kazakhstan of 03.07.19 No. 262-VI (entered into force from 1 January 2020) (see old version)
if the voluntary reorganization of payment organizations prevents the exercise of
control and supervision over the payment services market, as well as causes harm to the interests of payment service recipients.

Chapter 4. REGULATION OF PAYMENT SYSTEMS AND OVERSIGHT
OVER THEM, REGULATION OF THE PAYMENT SERVICES MARKET AND CONTROL OVER IT

Article 21. Regulation of payment systems and oversight over them

For the purpose of regulating payment systems, the National Bank of the Republic of Kazakhstan:

determines the procedure for carrying out oversight (oversight) of payment systems;
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;
approves the indicators of criteria for significant payment systems;
determines the procedure for maintaining the register of payment systems.

For the purpose of carrying out oversight (oversight) of payment systems, the National
Bank of the Republic of Kazakhstan:

Source: Information system "PARAGRAPH"

carries out monitoring of systemically significant payment systems;
carries out analysis and assessment of the functioning of systemically significant, significant
payment systems for compliance with international standards, including analysis of the impact on the work of payment systems by significant clients of payment system participants;
carries out analysis of payments and (or) money transfers based on the results of operations with
securities and foreign currency;
receives information on payments and (or) money transfers,
functioning of payment systems from operators, operational centers and participants of payment systems, including information on the volumes of payments and (or) money transfers, carried out through systemically significant or significant payment systems, carried out by significant clients of participants of said payment systems; Subparagraph 5 was amended in accordance with the Law of the Republic of Kazakhstan of 22.11.24 No. 138-VIII (entered into force from 4 December 2024) (see old version)
conducts inspections of the activities of operators and (or) operational centers of systemically
significant and significant payment systems, including any other person authorized by decree with them to provide services for the functioning of the payment system in the order 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;
carries out observation of the fulfillment by participants of systemically significant payment systems
of requirements for organizational measures and software and technical means, ensuring access to systemically significant payment systems;
maintains and publishes registers of systemically significant, significant and other payment systems on
its Internet resource.
See: Rules for maintaining the register of payment systems

When carrying out oversight (oversight) of 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 conducting an assessment of the functioning of systemically significant, significant payment systems, including by concluding agreements (contracts, memorandums) on cooperation.

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

Monitoring of systemically significant payment systems, analysis of the functioning of systemically
significant, 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 significant or significant payment systems.
Assessment of the functioning of systemically significant, 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 significant 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.
Changes were made to the heading in accordance with the Law of the Republic of Kazakhstan of 03.07.19 No. 262-VI (entered into force from 1 January 2020) (see old version)

Source: Information system "PARAGRAPH"

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

For the purpose of regulating the payment services market, the National Bank of the Republic of
Kazakhstan:

approves indicators under which a payment service provider is classified as a significant
payment service provider;
determines the procedure for maintaining the register of significant payment service providers;
develops measures aimed at increasing the efficiency and reliability
of the functioning of the payment services market.
Paragraph 2 was amended in accordance with the Law of the Republic of Kazakhstan of 03.07.19 No. 262-VI (entered into force from 1 January 2020) (see old version)

For the purpose of control and oversight over the payment services market, the National Bank of the Republic of
Kazakhstan:

carries out analysis of the payment services market;
carries out analysis of the application of payment instruments;
carries out analysis and assessment of services provided by payment service providers;
receives from significant payment service providers information on the payment services they have provided;
receives information on payment services, other information on payments and
(or) money transfers, functioning of the payment services market from payment service providers;
carries out accounting registration of payment organizations;
maintains the register of payment organizations;
See: Rules for organizing the activities of payment organizations
maintains and publishes the register of significant payment service providers on its Internet resource;
Subparagraph 9 is redacted in the edition of the Law of the Republic of Kazakhstan of 03.07.19 No. 262-VI (entered into force from 1 January 2020) (see old version)
carries out control and oversight 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), operators of payment systems and operational centers of payment systems with the requirements of the legislation of the Republic of Kazakhstan on payments and payment systems; Subparagraph 10 is redacted in the edition of the Law of the Republic of Kazakhstan of 03.07.19 No. 262-VI (entered into force from 1 January 2020) (see old version)
conducts inspections of the activities of operators of payment systems, operational centers
of payment systems and other subjects of the payment services market.
Paragraph 2-1 was added to the article in accordance with the Law of the Republic of Kazakhstan of 03.07.19 No. 262-VI (entered into force from 1 January 2020)

2-1. The authorized body for regulation, control and oversight of the financial market and financial organizations carries out control and oversight over compliance by payment service providers who 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. Paragraph 3 was amended in accordance with the Law of the Republic of Kazakhstan of 03.07.19 No. 262-VI (entered into force from 1 January 2020) (see old version)

When carrying out regulation, control and oversight 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 supervisory bodies over the payment services market of foreign states, international organizations.

Source: Information system "PARAGRAPH"
Changes were made to the heading of the article in accordance with the Law of the Republic of Kazakhstan of 02.07.18 No. 168-VI (entered into force from 1 January 2019) (see old version); Law of the Republic of Kazakhstan of 03.07.19 No. 262-VI (entered into force from 1 January 2020) (see old version)

Article 24. Application of limited impact measures, supervisory response measures
and sanctions to operators of payment systems, operational centers of payment systems, payment service providers Paragraph 1 was amended in accordance with the Law of the Republic of Kazakhstan of 02.07.18 No. 168-VI (entered into force from 1 January 2019) (see old version); redacted in the edition of the Law of the Republic of Kazakhstan of 03.07.19 No. 262-VI (entered into force from 1 January 2020) (see old version); amended in accordance with the Law of the Republic of Kazakhstan of 08.07.24 No. 116-VIII (entered into force from 9 September 2024) (see old version)

The National Bank of the Republic of Kazakhstan within its competence applies to
operators of payment systems, operational centers of payment systems and other subjects of the payment services market limited impact measures and sanctions for violation of the requirements of the legislation of the Republic of Kazakhstan on payments and payment systems, on combating legalization (money laundering) of proceeds obtained criminally, financing terrorism and financing of proliferation of weapons of mass destruction and the Law of the Republic of Kazakhstan "On Gambling Business" in the order provided 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, the activities of payment organizations on the territory of the Republic of Kazakhstan in the order determined by the normative legal act of the National Bank of the Republic of Kazakhstan, in cases where further functioning of said payment system or activities of payment organizations poses a threat to the stability of the financial system of the Republic of Kazakhstan. See: Letter of the Department of Payment Systems and Digital Financial Technologies of the National Bank of the Republic of Kazakhstan dated November 5, 2025 No. ZH-2025-03653117 "On the procedure for suspension by the National Bank of the participation of banks and payment organizations in foreign payment systems"
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 eliminating the causes of 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 order determined by the normative legal act of the National Bank of the Republic of Kazakhstan. Paragraph 4 was added to the article in accordance with the Law of the Republic of Kazakhstan of 02.07.18 No. 168-VI (entered into force from 1 January 2019); redacted in the edition of the Law of the Republic of Kazakhstan of 03.07.19 No. 262-VI (entered into force from 1 January 2020) (see old version); amended in accordance with the Law of the Republic of Kazakhstan of 03.07.20 No. 359-VI (see old version); Law of the Republic of Kazakhstan of 08.07.24 No. 116-VIII (entered into force from 9 September 2024) (see old version)
The authorized body for regulation, control and oversight 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" to payment service providers who are banks and organizations carrying out certain types of banking operations, in the order established by the Law of the Republic of Kazakhstan "On Banks and Banking Activity in the Republic of Kazakhstan". Paragraph 5 was added to the article in accordance with the Law of the Republic of Kazakhstan of 02.07.18 No. 168-VI; amended in accordance with the Law of the Republic of Kazakhstan of 03.07.19 No. 262-VI (entered into force from 1 January 2020) (see old version)
With respect to operators of payment systems, operational centers of payment systems and
other subjects of the payment services market, the National Bank of the Republic of Kazakhstan may apply one of the following limited impact measures:

Source: Information system "PARAGRAPH"

issue a mandatory written directive;
issue a written warning;
conclude a written agreement.
Paragraph 6 was added to the article in accordance with the Law of the Republic of Kazakhstan of 02.07.18 No. 168-VI

A written directive is an instruction to other subjects of the payment services market
to take mandatory corrective measures aimed at eliminating the identified violations and (or) causes, as well as conditions that contributed to their commission, within the period established in the written directive and (or) the necessity of submitting within the established period a plan of measures to eliminate the identified violations and (or) causes, as well as conditions that contributed to their commission (hereinafter - plan of measures). The plan of measures submitted within the period established by the written directive includes a description of the violations, causes and (or) conditions that led to their occurrence, a list of planned measures, deadlines for their implementation, as well as responsible duty officials. Appeal of the written directive of the National Bank of the Republic of Kazakhstan to the court does not suspend its execution. See: Rules for applying limited impact measures to operators of payment systems and payment service providers who are not banks and organizations carrying out certain types of banking operations

Paragraph 7 was added to the article in accordance with the Law of the Republic of Kazakhstan of 02.07.18 No. 168-VI

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 within one year after issuance of this warning a similar violation of the norms of the legislation of the Republic of Kazakhstan. See: Rules for applying limited impact measures to operators of payment systems and payment service providers who are not banks and organizations carrying out certain types of banking operations

Paragraph 8 was added to the article in accordance with the Law of the Republic of Kazakhstan of 02.07.18 No. 168-VI

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 on the necessity of eliminating the identified violations and (or) causes, as well as conditions that contributed to their commission, and approving a list of measures to eliminate these violations and (or) causes, as well as conditions that contributed to their commission, with indication of deadlines for their elimination and (or) a list of restrictions that the other subject of the payment services market accepts until the elimination of the identified violations and (or) causes, as well as conditions that contributed to their commission. A written agreement must be signed by the other subject of the payment services market. See: Rules for applying limited impact measures to operators of payment systems and payment service providers who are not banks and organizations carrying out certain types of banking operations

Paragraph 9 was added to the article in accordance with the Law of the Republic of Kazakhstan of 02.07.18 No. 168-VI

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 time limits specified in the document of the National Bank of the Republic of Kazakhstan on the application of the limited impact measure.

Paragraph 10 was added to the article in accordance with the Law of the Republic of Kazakhstan of 02.07.18 No. 168-VI

The procedure for applying limited impact measures to other subjects of the
payment services market is determined by the normative legal act of the National Bank of the Republic of Kazakhstan.

Paragraph 11 was added to the article in accordance with the Law of the Republic of Kazakhstan of 02.07.18 No. 168-VI

The National Bank of the Republic of Kazakhstan may apply to another subject of the payment services market limited impact measures defined by this article, regardless of the limited impact measures or sanctions previously applied to it.

Source: Information system "PARAGRAPH"
Paragraph 12 was added to the article in accordance with the Law of the Republic of Kazakhstan of 02.07.18 No. 168-VI

In the absence of the possibility to eliminate the violation and (or) causes, as well as
conditions that contributed to their commission, within the time limits established in the written directive and (or) plan of measures, 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 measures, written agreement may be extended by the National Bank of the Republic of Kazakhstan in the order established by the normative legal act of the National Bank of the Republic of Kazakhstan.

Chapter 5. PAYMENTS AND (OR) MONEY TRANSFERS
See changes to Article 25 - Law of the Republic of Kazakhstan of 16.01.26 No. 259-VIII (entered into force from 18 July 2026)

Article 25. Payments and (or) money transfers

Payments are made on the basis and in accordance with the terms of civil-law transactions, norms of the legislation of the Republic of Kazakhstan and court decisions.
Paragraph 2 was amended in accordance with the Law of the Republic of Kazakhstan of 30.12.20 No. 397-VI (entered into force from 1 July

(see old version); Law of the Republic of Kazakhstan of 30.06.25 No. 205-VIII (entered into force from 31 August 2025) (see
old version)

Payments and (or) money transfers are made on the basis or using
payment instruments.
The forms, mandatory details of payment documents and other requirements for their content, features of the use of electronic payment funds, the procedure for providing electronic banking services and the application of sector codes and payment purposes are established by normative legal acts of the National Bank of the Republic of Kazakhstan. Information and details used for making payments and (or) money transfers can be presented in the form of a barcode assigned by a payment service provider or operator of a payment system. The national standard of the barcode assigned by a payment service provider or operator of a payment system for making payments for goods, works or services provided within the framework of entrepreneurial activity is developed by the National Bank of the Republic of Kazakhstan jointly with the state body exercising leadership in the field of ensuring the receipt of taxes and payments to the budget. Other standards of organizations not contradicting the National Standard of the Barcode may be used for making payments using a barcode. The National Bank of the Republic of Kazakhstan jointly with the state body exercising leadership in the field of ensuring the receipt of taxes and payments to the budget establishes the minimum list of details used for making payments using a barcode, not including 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) by the following methods:

transfer of cash;
transfer of electronic money;
money transfer using payment documents;
issuance of a payment document containing a monetary obligation or an order for
payment of money;
use of electronic payment funds.

Initiation of a payment and (or) money transfer is carried out by:

presentation of a payment document by the initiator;
use of an electronic payment instrument by the holder;

Source: Information System "PARAGRAPH"
3) the initiator's deposit of cash for money transfer via electronic terminals and other devices;
Subparagraph 4 amended in accordance with the Law of the Republic of Kazakhstan dated December 31, 2021 No. 100-VII (effective from March 1, 2022) (see old version)
4) the initiator's consent to make a payment, including a mobile payment, via remote access systems.
5. Cash payments consist of 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 in whose favor such person has a monetary obligation.
6. Cash payments are made to the person in whose favor the monetary obligation is being fulfilled, directly or through an intermediary.
7. Non-cash payments and/or money transfers are carried out based on payment instruments using bank accounts, as well as without their use, in tenge and foreign currency, in the manner determined by this Law and the normative legal acts of the National Bank of the Republic of Kazakhstan.
Paragraph 8 restated in the edition of the Law of the Republic of Kazakhstan dated July 3, 2020 No. 359-VI (see old version)
8. Payments and/or money transfers made by legal entities, branches or representative offices of a legal entity through payment service providers are carried out only using bank accounts and/or electronic wallets.
The first part of this paragraph does not apply to the payment by legal entities of payments to the budget, payments for state services, as well as voluntary pension contributions and social deductions.
Paragraph 9 restated in the edition of the Law of the Republic of Kazakhstan dated December 25, 2017 No. 122-VI (effective from January 1, 2018) (see old version)
9. Payments for 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 in force 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 a legal entity only in non-cash order.
See: Response of the Chairman of the Committee of State Revenues of the Ministry of Finance of the RK dated May 10, 2019 to a question dated April 22, 2019 No. 546275/1 (dialog.egov.kz) "On administrative liability for carrying out cash payments for a transaction, the amount of which exceeds 1000 times the MCI", Response of the Chairman of the Committee of State Revenues of the Ministry of Finance of the RK dated January 14, 2021 to a question dated December 29, 2020 No. 659627 (dialog.egov.kz) "Conclusion of several transactions between the same persons with a certain periodicity and the same subject of the transaction have signs of an offense provided for in Article 266 of the Code of Administrative Offenses, in the form of a fine on persons who made a cash payment", Response of the Chairman of the Committee of State Revenues of the Ministry of Finance of the RK dated October 18, 2021 to a question dated October 3, 2021 No. 708143 (dialog.egov.kz) "Regarding deductions of expenses for a transaction, the amount of which exceeds 1000 times the MCI, payment for which was made in cash", Letter of the Deputy Prime Minister of the Republic of Kazakhstan dated February 13, 2023 No. 20-09/283 dz "Regarding clarification in the law of the deadlines by which payments for transactions exceeding a thousand-fold size of the MCI must be made only in non-cash order"
Article supplemented with paragraph 9-1 in accordance with the Law of the Republic of Kazakhstan dated June 30, 2025 No. 204-VIII (effective from January 2, 2026)
9-1. Payments for transactions for the acquisition of a share in a under-construction multi-apartment residential house or a complex of individual residential houses under equity participation agreements in housing construction are carried out in non-cash order, including by depositing cash into the bank account of the authorized company, in accordance with the legislation of the Republic of Kazakhstan on equity participation in housing construction. The basis for the bank to make payments by the sender of money for transactions for the acquisition of a share in a under-construction multi-apartment residential house or a complex of individual residential houses under equity participation agreements in housing construction is the presence of a registered equity participation agreement in housing construction with the authorized company in the unified information system of equity participation in housing construction in accordance with the rules for maintaining the unified information system of equity participation in housing construction.

Source: Information System "PARAGRAPH"
Paragraph 10 restated in the edition of the Law of the Republic of Kazakhstan dated June 20, 2017 No. 76-VI (effective from January 1, 2023) (see old version)
10. Banks provide state bodies, courts through the payment gateway of the "e-government" information and data on carried out payments and/or money transfers related to the payment of payments to the budget, remittance of mandatory pension contributions, employer's mandatory pension contributions, mandatory professional pension contributions and social deductions, as well as payment for state services, in the manner and deadlines established by the authorized body in the field of informatization in agreement with the National Bank of the Republic of Kazakhstan.
10-1. Deleted in accordance with the Law of the Republic of Kazakhstan dated December 31, 2021 No. 100-VII (effective from January 1, 2022) (see old version) Paragraph 11 restated in the edition of the Law of the Republic of Kazakhstan dated December 30, 2020 No. 397-VI (effective from July 1, 2021) (see old version)
11. Individual entrepreneurs and/or legal entities, except those located in areas without a public telecommunications network, when carrying out certain types of activities are obliged to ensure the installation and use in places of their activity of equipment (devices) for accepting payments using payment cards and/or accepting payments using the instant payment system.
The list of certain types of activities and the use of equipment (devices) intended for accepting payments using payment cards and/or accepting payments using the instant payment system is approved by the Government of the Republic of Kazakhstan.
Participation in the instant payment system by payment organizations is permitted in cases and in the manner determined by the National Bank of the Republic of Kazakhstan.
When making payments via the instant payment system, the crediting of money to the beneficiary is ensured by the beneficiary's service provider - a participant of the instant payment system in an instant mode.
Money transfers between payment service providers (final settlement) via the instant payment system are carried out on the results of clearing and are ensured by money held at 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 a legal entity that carry out monetary settlements when conducting trade operations, performing works, providing services without the use of cash.
12. Money transfer to the beneficiary may be carried out by a bank, an 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 implementation of money transfer to the beneficiary in accordance with the formats and rules of the money transfer system.
Article supplemented with paragraph 13 in accordance with the Law of the Republic of Kazakhstan dated July 8, 2024 No. 116-VIII (effective from September 9, 2024)
13. Refusal to carry out payments and/or money transfers by payment organizations is carried out in cases provided for by this Law and the laws of the Republic of Kazakhstan "On Counteracting Legalization (Money Laundering) of Income Obtained by Criminal Means, Financing of Terrorism and Financing of Proliferation of Weapons of Mass Destruction" and "On Gambling Business".
Article supplemented with paragraph 14 in accordance with the Law of the Republic of Kazakhstan dated July 16, 2025 No. 210-VIII (effective from September 16, 2025)

Source: Information System "PARAGRAPH"
14. The Client is 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, which led to third parties gaining access to carry out payments and/or money transfers, except for providing such access to a spouse and close relatives, as well as other persons in cases established by legislation.
The Client is prohibited from carrying out payments and/or money transfers in the interest of a third party or in favor of a third party for material remuneration or benefits of a property nature.
It is prohibited to carry out payments and/or money transfers using a bank account, payment instrument or identification means of third parties, except for using a bank account, payment instrument or identification means of a spouse and close relatives, as well as other persons in cases established by legislation.
Chapter 5 supplemented with Article 25-1 in accordance with the Law of the Republic of Kazakhstan dated May 21, 2024 No. 86-VIII (effective from July 22, 2024)
Article 25-1. Anti-Fraud Center

Anti-Fraud Center:

carries out the collection, consolidation and storage of information on events and attempts regarding payment transactions with signs of fraud, received from financial organizations, payment organizations, mobile network operators and law enforcement agencies;
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, mobile network operators, law enforcement agencies;
provides information necessary to prevent payment transactions with signs of fraud to financial organizations, payment organizations, mobile network operators, law enforcement agencies, including information on threats, vulnerabilities, prerequisites for the occurrence of events, as well as methods of their prevention and elimination of consequences;
ensures the appropriate regime for storage, protection and preservation of information, data and documents obtained in the course of its activities, constituting official, commercial, banking or other state-protected secrets;
Subparagraph supplemented with subparagraph 4-1 in accordance with the Law of the Republic of Kazakhstan dated June 30, 2025 No. 205-VIII (effective from August 31, 2025) 4-1) provides assistance 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 law enforcement agencies, national security and law enforcement bodies;
performs other functions defined 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:
Subparagraph 1 amended in accordance with the Law of the Republic of Kazakhstan dated June 30, 2025 No. 205-VIII (effective from August 31, 2025) (see old version)

if there is an appeal from the client to identify a payment transaction with signs of fraud;
if there is confirmed information from a law enforcement agency;

Source: Information System "PARAGRAPH"
3) if in accordance with the internal documents of the financial organization, payment organization there are such grounds;
Subparagraph 4 amended in accordance with the Law of the Republic of Kazakhstan dated June 30, 2025 No. 205-VIII (effective from August 31, 2025) (see old version)
4) if the sender of money and/or the beneficiary of the payment and/or money transfer are in the database on events and attempts to carry out a payment transaction with signs of fraud.
Article supplemented with paragraph 2-1 in accordance with the Law of the Republic of Kazakhstan dated June 30, 2025 No. 205-VIII (effective from August 31, 2025)
2-1. The Rules for organizing the activities 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:

the procedure for carrying out the activities of the Anti-Fraud Center and interaction of the Anti-Fraud Center with persons participating in its activities;
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 provide access to them to persons participating in the activities of the Anti-Fraud Center;
the procedure and deadlines for refusal and suspension of execution of instructions by financial organizations, payment organizations upon receiving information from the Anti-Fraud Center about persons associated with payment transactions with signs of fraud;
the procedure, forms and deadlines for forwarding by financial organizations, payment organizations to the Anti-Fraud Center information on all events and/or attempts to carry out payment transactions with signs of fraud;
the procedure and types of providing 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 the client's appeal to the financial organization, payment organization to obtain a limited list of financial or payment services;
the procedure for interaction of law enforcement agencies, national security and law enforcement bodies, 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;
Subparagraph 7 restated in the edition of the Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII (effective from March 19, 2026) (see old version)
the procedure for returning money to the client indicated in a ruling of a law enforcement agency, agreed upon by a prosecutor, recognizing the transaction as fraudulent.
Paragraph 3 amended in accordance with the Law of the Republic of Kazakhstan dated June 30, 2025 No. 205-VIII (effective from August 31, 2025) (see old version); restated in the edition of the Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII (effective from March 19, 2026) (see old version)

Persons participating in the activities of the Anti-Fraud Center are:

financial organizations;
payment organizations providing payment services provided for by subparagraphs 8) and 9) of paragraph 1 of Article 12 of this Law;
mobile network operators;
effective from July 18, 2026.
law enforcement agencies, national security, law enforcement bodies;
National Bank of the Republic of Kazakhstan;
authorized body for regulation, control and supervision of the financial market and financial organizations;
authorized body for financial monitoring;
other persons determined by the decision of the National Bank of the Republic of Kazakhstan.

Source: Information System "PARAGRAPH"
Article supplemented with paragraph 3-1 in accordance with the Law of the Republic of Kazakhstan dated June 30, 2025 No. 205-VIII (effective from August 31, 2025)
3-1. Financial organizations, payment organizations upon detecting a payment transaction with signs of fraud carry out the following actions:

suspend the execution of the instruction and/or cash operations on the bank account, electronic wallet or block the amount of the payment and/or money transfer for a period of no more than five working days;
in the manner established by the contract concluded with the client, provide the client with information on the suspension of the execution of the instruction and/or cash operations on the bank account, electronic wallet of the client or blocking of the amount of the payment and/or money transfer, indicating the reasons and grounds;
within five working days from the date of suspension of the execution of the instruction and/or cash operations on the bank account, electronic wallet of the client or blocking of the amount of the payment and/or money transfer, conduct an analysis of the client's operations, including by obtaining additional information from the client necessary to clarify the circumstances and make a decision;
in case of non-provision by the client of the requested information within the period of analysis, block the bank account, electronic wallet until the moment of receiving explanations from the client;
if as a result of the analysis by the financial organization, payment organization a decision is made not to recognize the transaction as fraudulent, financial organizations, payment organizations carry out the suspended payment and/or money transfer, resume cash operations on the bank account, electronic wallet of the client or remove the blocking of the amount of the payment and/or money transfer, if there are no other grounds provided for by the laws of the Republic of Kazakhstan preventing the conduct of this payment and/or money transfer, resumption of cash operations on the bank account, electronic wallet of the client or removal of blocking of the amount of this payment and/or money transfer;
in the presence of grounds or confirmation of the client's participation in carrying out a payment transaction with signs of fraud, send through the Anti-Fraud Center a notification to the law enforcement agency for subsequent conduct of measures established by the laws of the Republic of Kazakhstan, simultaneously including the client in the database on attempts to carry out a payment transaction with signs of fraud.
Upon suspension of cash operations on the bank account, electronic wallet within the framework of 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. Paragraph 4 restated in the edition of the Law of the Republic of Kazakhstan dated June 30, 2025 No. 205-VIII (effective from August 31, 2025) (see old version)

The law enforcement agency within three working days from the date of receiving 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 money transfer and/or resumption of cash operations on the bank account, electronic wallet of the client or removal of blocking of the amount of the payment and/or money transfer.
Financial or payment organizations in case of non-receipt by the expiration of three working days from the date of notification of the Anti-Fraud Center of a decision of the law enforcement agency on further actions carry out the suspended payment and/or money transfer, resume cash operations on the bank account, electronic wallet of the client or remove the blocking of the amount of the payment and/or money transfer, if there are no other grounds provided for by the laws of the Republic of Kazakhstan preventing the conduct of this payment and/or money transfer, resumption of cash operations on the bank account, electronic wallet of the client or removal of blocking of the amount of this payment and/or money transfer. Law enforcement agencies, national security, law enforcement bodies 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 of law enforcement agencies, national security, law enforcement bodies 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. Paragraph 5 restated in the edition of the Law of the Republic of Kazakhstan dated June 30, 2025 No. 205-VIII (effective from August 31, 2025) (see old version)
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 providing 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.
Paragraph 6 amended in accordance with the Law of the Republic of Kazakhstan dated June 30, 2025 No. 205-VIII (effective from August 31, 2025) (see old version)
Financial organizations, payment organizations upon receiving information from the Anti-Fraud Center about persons associated with payment transactions with signs of fraud, refuse or suspend the execution of instructions within the deadlines and manner determined by the normative legal act of the National Bank of the Republic of Kazakhstan specified in paragraph 2-1 of this article.
Paragraph 7 amended in accordance with the Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII (effective from March 19, 2026) (see old version)
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.
The bank, organization carrying out certain types of banking operations, payment organization, having carried out a payment and/or money transfer to the beneficiary, who at the time of carrying out the payment and/or money transfer was in the database on events of carrying out a payment transaction with signs of fraud of the Anti-Fraud Center, bear responsibility to the client and reimburse him the money. Paragraph 8 amended in accordance with the Law of the Republic of Kazakhstan dated June 30, 2025 No. 205-VIII (effective from August 31, 2025) (see old version)
Financial organizations, payment organizations are obliged to send to the Anti-Fraud Center information on all events and/or attempts to carry out payment transactions with signs of fraud in the form, deadlines and manner determined by the normative legal act of the National Bank of the Republic of Kazakhstan specified in paragraph 2-1 of this article.
Paragraph 9 amended in accordance with the Law of the Republic of Kazakhstan dated June 30, 2025 No. 205-VIII (effective from August 31, 2025) (see old version)
The Anti-Fraud Center has the right to provide law enforcement agencies, national security and law enforcement bodies with data on payment transactions with signs of fraud, including those related to banking and other state-protected secrets, in accordance with the laws of the Republic of Kazakhstan.
Paragraph 10 amended in accordance with the Law of the Republic of Kazakhstan dated June 30, 2025 No. 205-VIII (effective from August 31, 2025) (see old version)

Source: Information system "PARAGRAPH"

The Anti-Fraud Center carries out the formation and maintenance of databases on events and attempts to carry out a payment transaction with signs of fraud, provides access to them to persons participating in the activities of the Anti-Fraud Center in real-time 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.

Paragraph 11 has been amended in accordance with the Law of the Republic of Kazakhstan dated June 30, 2025 No. 205-VIII (entered into force on August 31, 2025, see old version; entered into force on January 2, 2026, see old version)

The Anti-Fraud Center carries out, without the consent of the client, the exchange of data with financial organizations, payment organizations, mobile network operators, law enforcement agencies, national security agencies, and law enforcement agencies, processing data on payment transactions with signs of fraud, including information about the client-individual, his individual identification number, bank account number and/or payment card number, mobile phone subscriber number, identity document, status of residence on the territory of the Republic of Kazakhstan, and other information necessary for the identification of the client and payments and/or money transfers with his participation, including from databases of national security agencies.

Paragraph 12 of the Article has been supplemented in accordance with the Law of the Republic of Kazakhstan dated June 30, 2025 No. 205-VIII (entered into force on August 31, 2025)

Actions of financial and payment organizations carried out in accordance with this Article, including refusal or suspension of execution of instructions and/or spending operations on the client's bank account, electronic wallet, blocking of money amounts in the client's bank account or electronic wallet, as well as the transmission of information constituting banking and other secrets protected by law, are not grounds for holding financial and payment organizations liable under the laws of the Republic of Kazakhstan, as well as under civil law agreements.

The heading of Article 26 has been edited in accordance with the Law of the Republic of Kazakhstan dated July 2, 2018 No. 166-VI (see old version)

See changes to Article 26 - by the Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII (enters into force on July 18, 2026)

Article 26. Features of carrying out payments and/or money transfers by a specialized non-profit organization performing the functions of a central depository for securities transactions

Payment and/or money transfer 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 - the central depository), based on an agreement concluded between the client and the central depository, to:

the client's bank account opened in the central depository;
the client's correspondent account opened in the National Bank of the Republic of Kazakhstan.

Payment and/or money transfer to 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 in 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 based on:

the client's order to register a transaction (operation) with financial instruments in the event that the sender of such an order has provided the central depository with the right to debit money from his bank account based on the client's order to register a transaction with financial instruments;
the trading organizer's order to register a transaction (operation) with financial instruments in the event that the sender of money has provided the central depository with the right

Source: Information system "PARAGRAPH"

to debit money from his bank account based on the trading organizer's order to register a transaction with financial instruments;
3) the clearing organization's order to carry out money transfers following the results of the clearing session in the event that the sender of money has provided the central depository with the right to debit money from his bank account based on the clearing organization's order.

To carry out a payment and/or money transfer 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 the operator or the operational center of the systemically important payment system with consent to debit money from his correspondent account opened in the National Bank of the Republic of Kazakhstan, upon execution in the systemically important payment system of the payment document of the central depository.

The central depository sends a payment document to the systemically important payment system in accordance with the code of rules of the central depository based on:

the client's order to register a transaction (operation) with financial instruments in the event that the sender of such an order has provided the central depository with the right to debit money from his correspondent account based on the client's order to register a transaction with financial instruments;
the trading organizer's order to register a transaction (operation) with financial instruments in the event that the sender of money has provided the central depository with the right to debit money from his correspondent account based on the trading organizer's order to register a transaction with financial instruments;
the unilateral order of the National Bank of the Republic of Kazakhstan to register a transaction (operation) with financial instruments in the event of the National Bank of the Republic of Kazakhstan issuing a bank loan to participants of the systemically important payment system against the collateral of securities.

Article 27. Bank Accounts

Paragraph 1 has been amended in accordance with the Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII (entered into force on March 19, 2026) (see old version)

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

See: Rules for opening, maintaining and closing client bank accounts

The agreement concluded upon opening a current or correspondent account or a bank deposit is an agreement concluded upon providing a payment service, provided for in paragraph 4 of Article 13 of this Law. It is permissible to establish conditions for providing payment services in other agreements concluded with the client.

Before concluding a bank account agreement based on the client's application for opening a bank account, sent in electronic form, it is permissible for the bank or organization carrying out certain types of banking operations to assign an individual identification code to the client. At the same time, the bank account is considered opened after the conclusion between the client and the bank or organization carrying out certain types of banking operations of a bank account agreement. In the event that the client does not conclude a bank account agreement, 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 National Bank of the Republic of Kazakhstan's Data Exchange Center.

The bank and the organization carrying out certain types of banking operations are prohibited from opening:

Source: Information system "PARAGRAPH"

a new bank account to the 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 spending operations on the bank account, third-party demands for withdrawal of money from the bank account and/or a lien on money located in his bank account, provided that there is insufficient amount of money in the bank account on which the lien is imposed;
a bank account to an inactive taxpayer, information about which has been transferred to the bank or organization carrying out certain types of banking operations by the authorized body in the field of ensuring the receipt of taxes and other mandatory payments to the budget;
an anonymous bank account or a bank account in a fictitious name;
a bank account to the client in cases provided for by the Law of the Republic of Kazakhstan "On Countering the Legalization (Money Laundering) of Proceeds Obtained by Criminal Means, Financing of Terrorism and Financing of Proliferation of Weapons of Mass Destruction".

Paragraph 3 has been amended in accordance with the Law of the Republic of Kazakhstan dated January 21, 2019 No. 217-VI (see old version); by the Law of the Republic of Kazakhstan dated December 30, 2022 No. 177-VII (entered into force on January 12, 2023) (see old version)

The provisions of sub-paragraphs 1) and 2) of paragraph 2 of this Article do not apply to cases of opening:

Sub-paragraph 1 has been amended in accordance with the Law of the Republic of Kazakhstan dated November 16, 2023 No. 40-VIII (entered into force on January 1, 2024) (see old version); by the Law of the Republic of Kazakhstan dated May 16, 2024 No. 82-VIII (in part of opening a new bank account to the client in the presence of tax debt and debt on social payments, it enters into force after the entry into force of the corresponding norms of the Code of the Republic of Kazakhstan "On Taxes and Other Mandatory Payments to the Budget" (Tax Code)) (see old version); by the Law of the Republic of Kazakhstan dated November 22, 2024 No. 138-VIII (entered into force on December 4, 2024) (see old version); by the Law of the Republic of Kazakhstan dated January 10, 2025 No. 153-VIII (entered into force on March 13, 2025) (see old version); by the Law of the Republic of Kazakhstan dated June 30, 2025 No. 205-VIII (entered into force on August 31, 2025) (see old version)

a bank account to a client - an individual intended for the crediting of benefits, social payments paid from the state budget and/or the State Social Insurance Fund, material assistance provided in accordance with sub-paragraph 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 the 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 the maintenance of minors and incapacitated adult children), 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 savings account or insurance payments under the contract of educational savings insurance for improving housing conditions, compensation for material damage and necessary assistance from the state budget and/or from charitable organizations as a result of a natural or technological emergency situation;

Sub-paragraph 2 has been amended in accordance with the Law of the Republic of Kazakhstan dated November 22, 2024 No. 138-VIII (entered into force on May 24, 2025) (see old version)

a bank account in a housing construction savings bank, possessing the status of a national development institute, intended for the crediting of payments and subsidies for the purpose of paying for rented housing in the private housing fund.

It is permissible for the bank or organization carrying out certain types of banking operations to refuse to open a bank account in the framework of fulfilling the conditions of agreements with banks-residents of the Republic of Kazakhstan and/or international treaties ratified by the Republic of Kazakhstan.

Source: Information system "PARAGRAPH"

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.

See: Rules for opening, maintaining and closing client bank accounts

Operations related to:

ensuring the availability and use by the bank of the client's money;
acceptance (crediting) of money to the benefit of the client;
execution of the client's instruction to transfer money to the benefit of third parties in the manner provided for by the bank account agreement;
execution of third-party instructions to withdraw the client's money on the grounds provided for by the laws of the Republic of Kazakhstan and/or the bank account agreement;
acceptance from the client and issuance to him of cash money in the manner and on the conditions provided for by the said agreement and this Law;
excluded in accordance with the Law of the Republic of Kazakhstan dated July 2, 2018 No. 168-VI (entered into force on January 1, 2019) (see old version)
providing information to the client upon his request about the amount of money of the client in the bank and operations carried out in the manner and time limits provided for by the bank account agreement;
carrying out other banking services for the client provided for by the bank account agreement, the legislation of the Republic of Kazakhstan and business customs applied in banking practice.

Operations related to:

ensuring the availability and use by the bank of money belonging to the client;
acceptance from the client or third parties of money both in cash and non-cash form;
payment of remuneration in the amount and manner determined by the bank deposit agreement;
return of money to the client on the conditions provided for by the bank deposit agreement and the laws of the Republic of Kazakhstan, including by transferring it to another bank account of the client;
execution of third-party instructions to withdraw the client's money on the grounds provided for by the laws of the Republic of Kazakhstan and/or the bank account agreement.

Paragraph 7 has been amended in accordance with the Law of the Republic of Kazakhstan dated July 12, 2022 No. 138-VII (entered into force on September 12, 2022) (see old version); by the Law of the Republic of Kazakhstan dated June 30, 2025 No. 205-VIII (entered into force on August 31, 2025) (see old version)

Operations related to:

acceptance (crediting) of money coming to the benefit of the bank or organization carrying out certain types of banking operations, or its (their) clients;
execution of the instruction of the bank or organization carrying out certain types of banking operations to transfer 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;
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 the conditions provided for by the said agreement and this Law;
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 certain types of banking operations, between banks and financial organizations - non-residents of the Republic of Kazakhstan.

Source: Information system "PARAGRAPH"

Features of opening and maintaining correspondent accounts by banks to banks - participants of the International Financial Center "Astana", including currency and the list of operations, are established by the normative legal act of the National Bank of the Republic of Kazakhstan.

The size of the limit of payments and money transfers on correspondent accounts of banks, branches of banks - non-residents of the Republic of Kazakhstan and organizations carrying out certain types of banking operations, is established by the normative legal act of the National Bank of the Republic of Kazakhstan.

Paragraph 7-1 has been added to the Article in accordance with the Law of the Republic of Kazakhstan dated July 3, 2020 No. 359-VI (entered into force on January 1, 2021)

7-1. Issuance of cash money from bank accounts is carried out in accordance with the rules for withdrawal of cash money by business entities from bank accounts and within the limits of the amount determined by the 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 countering the legalization (money laundering) of proceeds obtained by criminal means, financing of terrorism and financing of proliferation of weapons of mass destruction.

Bank accounts do not include accounts on which operations specified in paragraphs 5, 6 and 7 of this Article are not carried out, as well as reflecting accounting positions in the bank or organization carrying out certain types of banking operations, personal accounts (sub-positions) that are components of the balance sheet account, including loan accounts.

Paragraph 9 has been amended in accordance with the Law of the Republic of Kazakhstan dated July 2, 2018 No. 168-VI (see old version)

It is permissible to open a bank account to the client in "escrow account" mode.

In the event that the person in whose name the escrow account is opened fails to fulfill the conditions determined by the client, and the term for the occurrence or fulfillment of such conditions under the bank account agreement expires, the bank returns the money to the client who opened the escrow account.

A lien and recovery are not allowed on money located in the escrow account, except by court decision in a case related to the conditions of the escrow account agreement.

Paragraph 10 has been amended in accordance with the Law of the Republic of Kazakhstan dated June 30, 2017 No. 80-VI (see old version); by the Law of the Republic of Kazakhstan dated December 12, 2017 No. 114-VI (entered into force on January 1, 2018) (see old version); by the Law of the Republic of Kazakhstan dated July 4, 2018 No. 171-VI (see old version)

In the event of recovery of client money located in the bank or organization carrying out certain types of banking operations, such recovery is carried out only from the clients' bank accounts.

Recovery of money located in the correspondent accounts of banks or organizations carrying out certain types of banking operations is carried out only for the obligations of the banks or organizations carrying out certain types of banking operations themselves.

Recovery is not allowed:

Sub-paragraph 1 has been amended in accordance with the Law of the Republic of Kazakhstan dated May 16, 2024 No. 82-VIII (entered into force on May 28, 2024) (see old version)

on money located in bank accounts intended for the crediting of benefits and social payments paid from the state budget and/or the State Social Insurance Fund, material assistance provided in accordance with sub-paragraph 1) of paragraph 4 of Article 112 of the Social Code of the Republic of Kazakhstan;

See: Letter of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated March 31, 2020 No. 04-3-02/1769 "On the need to open 'special' accounts for crediting monthly social assistance and other payments", Reply of the Minister of Labor and Social Protection of the Population of the RK dated September 19, 2018 to the question dated September 7, 2018 No. 514312 (dialog.egov.kz) "Targeted social assistance falls into the category of social payments financed from the funds of the state budget and therefore should not be a prerequisite for forced recovery of debts"

Source: Information system "PARAGRAPH"

Paragraph supplemented with sub-paragraph 1-1 in accordance with the Law of the Republic of Kazakhstan dated June 30, 2025 No. 205-VIII (entered into force on August 31, 2025) 1-1) funds located in bank accounts intended for the crediting of compensation for material damage and the provision of necessary assistance from the state budget and/or from charitable organizations to natural persons affected by natural or technogenic emergencies;

Paragraph 2 amended in accordance with the Law of the Republic of Kazakhstan dated January 2, 2021 No. 399-VI (entered into force on January 1, 2021) (see old edition); Law of the Republic of Kazakhstan dated November 16, 2023 No. 40-VIII (entered into force on January 1, 2024) (see old edition); Law of the Republic of Kazakhstan dated January 10, 2025 No. 153-VIII (entered into force on March 13, 2025) (see old edition)
2) funds located in bank accounts intended for the crediting 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, target assets, payments of target savings from the Unified Accumulative Pension Fund for the purpose of improving housing conditions and/or payment for education, payments of savings from the educational savings deposit or insurance payments under an educational savings insurance contract for improving housing conditions;

Paragraph 2-1 amended in accordance with the Law of the Republic of Kazakhstan dated December 26, 2019 No. 284-VI (see old edition); Law of the Republic of Kazakhstan dated November 16, 2023 No. 40-VIII (entered into force on January 1, 2024) (see old edition); Law of the Republic of Kazakhstan dated January 10, 2025 No. 153-VIII (entered into force on March 13, 2025) (see old edition); Law of the Republic of Kazakhstan dated June 30, 2025 No. 204-VIII (entered into force on July 12, 2025) (see old edition) 2-1) funds located 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 target savings from the Unified Accumulative Pension Fund for the purpose of improving housing conditions and/or payment for education, in the form of payments of savings from the educational savings deposit or insurance payments under an educational savings insurance contract for improving housing conditions, funds located in bank accounts in second-tier banks in the form of savings for the 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 located in bank accounts in housing construction savings banks and second-tier banks, in accordance with this sub-paragraph, are subject to separate accounting by opening separate accounts (sub-positions);

Paragraph supplemented with sub-paragraph 2-2 in accordance with the Law of the Republic of Kazakhstan dated December 30, 2022 No. 177-VII (entered into force on January 12, 2023); amended in accordance with the Law of the Republic of Kazakhstan dated November 22, 2024 No. 138-VIII (entered into force on May 24, 2025) (see old edition) 2-2) funds located in a bank account in a housing construction savings bank holding the status of a national development institute, intended for the crediting of payments and subsidies for the purpose of payment for rented housing in the private housing fund;

Paragraph supplemented with sub-paragraph 2-3 in accordance with the Law of the Republic of Kazakhstan dated June 30, 2025 No. 204-VIII (entered into force on July 12, 2025) 2-3) funds located in bank accounts in housing construction savings banks in the form of housing construction savings, which are the subject of pledge for bank loans issued;

funds deposited on deposit terms by a notary;
funds located in bank accounts under an agreement on an educational savings deposit concluded in accordance with the Law of the Republic of Kazakhstan "On the State Educational Savings System";

Sub-paragraph 5 republished in the edition of the Law of the Republic of Kazakhstan dated April 19, 2023 No. 223-VII (entered into force on January 1, 2024) (see old edition); amended in accordance with the Law of the Republic of Kazakhstan dated March 15, 2025 No. 172-VIII (entered into force on January 1, 2025) (see old edition)
5) assets of the social medical insurance fund and transfers allocated for the guaranteed volume of free medical care, located in bank accounts;

Paragraph supplemented with sub-paragraphs 5-1 to 5-3 in accordance with the Law of the Republic of Kazakhstan dated July 12, 2022 No. 138-VII (entered into force on September 12, 2022) 5-1) funds located in bank accounts intended for accounting of funds of clients of an investment portfolio manager, for unfulfilled obligations of such investment portfolio manager; 5-2) funds located in bank accounts intended for accounting of funds of clients of a person performing the functions of a nominal holder, for unfulfilled obligations of such person performing the functions of a nominal holder; 5-3) funds located in bank accounts for the purpose of carrying out clearing activities for transactions with financial instruments;

Paragraph supplemented with sub-paragraph 6 in accordance with the Law of the Republic of Kazakhstan dated July 4, 2018 No. 171-VI; republished in the edition of the Law of the Republic of Kazakhstan dated March 15, 2025 No. 172-VIII (entered into force on January 1, 2025) (see old edition)
6) funds located in bank accounts intended for the crediting of compensation for investment costs in accordance with the legislation of the Republic of Kazakhstan on public-private partnership;

Paragraph supplemented with sub-paragraph 7 in accordance with the Law of the Republic of Kazakhstan dated January 21, 2019 No. 217-VI
7) client funds located in bank accounts intended for the crediting of alimony (funds intended for the maintenance of minor and disabled adult children), for bank loans based on payment demands;

Paragraph supplemented with sub-paragraph 8 in accordance with the Law of the Republic of Kazakhstan dated June 26, 2020 No. 349-VI
8) funds located in the current account of a private judicial executor, intended for the storage of recovered amounts in favor of claimants;

Paragraph supplemented with sub-paragraph 8 in accordance with the Law of the Republic of Kazakhstan dated July 3, 2020 No. 359-VI; amended in accordance with the Law of the Republic of Kazakhstan dated November 15, 2021 No. 72-VII (entered into force on January 1, 2022) (see old edition)
9) funds located in savings accounts, which are the subject of pledge for bank loans issued, in the amount of the unpaid principal debt on such bank loans based on payment demands;

Paragraph supplemented with sub-paragraph 10 in accordance with the Law of the Republic of Kazakhstan dated November 15, 2021 No. 72-VII (entered into force on January 1, 2022)
10) funds located in the bank account of the single operator in the field of state procurement, intended for the deposit by potential suppliers or suppliers of funds as security measures in the framework of participation in state procurement in accordance with the Law of the Republic of Kazakhstan "On State Procurement";

Part supplemented with sub-paragraphs 11, 12 in accordance with the Law of the Republic of Kazakhstan dated December 30, 2022 No. 179-VII (entered into force on March 3, 2023)
11) funds located in the bank account of a citizen, in respect of whom a case for the application of a procedure or a procedure has been initiated or applied in accordance with the Law of the Republic of Kazakhstan "On the Restoration of Solvency and Bankruptcy of Citizens of the Republic of Kazakhstan";
12) funds located in the current account of a financial manager for the crediting of funds in the procedure of judicial bankruptcy in accordance with the Law of the Republic of Kazakhstan "On the Restoration of Solvency and Bankruptcy of Citizens of the Republic of Kazakhstan";

Part supplemented with sub-paragraph 13 in accordance with the Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII (entered into force on March 19, 2026)
13) funds and/or securities of banks in the central depository and/or clearing organization, intended for ensuring 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 sub-paragraph 6) of the third part of this article does not apply to the seizure of funds for 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.

Source: Information system "PARAGRAPH"

Paragraph 11 amended in accordance with the Law of the Republic of Kazakhstan dated June 30, 2017 No. 80-VI (see old edition); Law of the Republic of Kazakhstan dated December 12, 2017 No. 114-VI (entered into force on January 1, 2018) (see old edition); Law of the Republic of Kazakhstan dated July 4, 2018 No. 171-VI (see old edition); Law of the Republic of Kazakhstan dated December 26, 2019 No. 284-VI (see old edition); Law of the Republic of Kazakhstan dated June 26, 2020 No. 349-VI (see old edition); Law of the Republic of Kazakhstan dated May 13, 2020 No. 325-VI (entered into force on November 15, 2020) (see old edition); Law of the Republic of Kazakhstan dated January 2, 2021 No. 399-VI (entered into force on December 16, 2020; from January 1, 2021) (see old edition); Law of the Republic of Kazakhstan dated November 15, 2021 No. 72-VII (entered into force on January 1, 2022) (see old edition); Law of the Republic of Kazakhstan dated July 12, 2022 No. 138-VII (entered into force on September 12, 2022) (see old edition); Law of the Republic of Kazakhstan dated December 30, 2022 No. 177-VII (entered into force on January 12, 2023) (see old edition); Law of the Republic of Kazakhstan dated April 19, 2023 No. 223-VII (entered into force on January 1, 2024) (see old edition); Law of the Republic of Kazakhstan dated November 16, 2023 No. 40-VIII (entered into force on January 1, 2024) (see old edition); Law of the Republic of Kazakhstan dated May 16, 2024 No. 82-VIII (entered into force on May 28, 2024) (see old edition); Law of the Republic of Kazakhstan dated January 10, 2025 No. 153-VIII (entered into force on March 13, 2025) (see old edition); Law of the Republic of Kazakhstan dated March 15, 2025 No. 172-VIII (entered into force on January 1, 2025) (see old edition); Law of the Republic of Kazakhstan dated November 22, 2024 No. 138-VIII (entered into force on May 24, 2025) (see old edition); Law of the Republic of Kazakhstan dated June 30, 2025 No. 204-VIII (entered into force on July 12, 2025) (see old edition); Law of the Republic of Kazakhstan dated June 30, 2025 No. 205-VIII (entered into force on August 31, 2025) (see old edition); Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII (entered into force on March 19, 2026) (see old edition)

Suspension of spending operations on the sender's bank account based on corresponding decisions and/or orders of authorized state bodies or officials on the suspension of spending operations on the bank account, or information from the authorized body on organizations and natural persons included in the list of organizations and persons associated with the financing of terrorism and extremism, and/or in the list of organizations and persons associated with the financing of the proliferation of weapons of mass destruction, as well as the list of persons involved in terrorist activity, and temporary restrictions on the disposal of property based on acts on temporary restrictions on the disposal of property, imposition of a seizure on funds located in the bank account of the sender of funds, based on acts on the imposition of a seizure on the client's funds, are carried out in the order and cases provided for by the laws of the Republic of Kazakhstan.

Imposition of a seizure, suspension of spending operations, temporary restriction on the disposal of property, restrictions on making transactions and other operations with property, on bank accounts intended for the crediting of benefits and social payments paid from the state budget and/or the State Social Insurance Fund, compensation for material damage and provision of necessary assistance from the state budget and/or from charitable organizations to natural persons affected by natural or technogenic emergencies, material assistance provided in accordance with sub-paragraph 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 savings from the Unified Accumulative Pension Fund for the purpose of improving housing conditions and/or payment for education, payments of savings from the educational savings deposit or insurance payments under an educational savings insurance contract for improving housing conditions, funds located 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 target savings from the Unified Accumulative Pension Fund for the purpose of improving housing conditions and/or payment for education, funds located in bank accounts in housing construction savings banks in the form of housing construction savings, which are the subject of pledge for bank loans issued, in the form of payments of savings from the educational savings deposit or insurance payments under an educational savings insurance contract for improving housing conditions, funds located in a bank account in a housing construction savings bank holding the status of a national development institute, intended for the crediting of payments and subsidies for the purpose of payment for rented housing in the private housing fund, funds located in bank accounts in second-tier banks in the form of savings for the 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 located in bank accounts intended for the crediting of compensation for investment costs, as well as funds deposited on deposit terms by a notary, funds located in bank accounts under an agreement on an educational savings deposit concluded in accordance with the Law of the Republic of Kazakhstan "On the State Educational Savings System", assets of the social medical insurance fund and transfers allocated for
the guaranteed volume of free medical care, funds located in bank accounts intended for accounting of funds of clients of an investment portfolio manager, for unfulfilled obligations of such investment portfolio manager, funds located in bank accounts intended for accounting of funds of clients of a person performing the functions of a nominal holder, for unfulfilled obligations of such person performing the functions of a nominal holder, funds located in bank accounts for the purpose of carrying out clearing activities for transactions with financial instruments, funds of banks, insurance (reinsurance) organizations, voluntary accumulative pension funds, deprived of a license by the authorized state body and/or in the process of forced liquidation, funds located in the current account of a private judicial executor, intended for the storage of recovered amounts in favor of claimants, funds located in the bank account of the single operator in the field of state procurement, intended for the deposit by potential suppliers or suppliers of funds as security measures in the framework of participation in state procurement 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 for ensuring 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 non-resident banks of the Republic of Kazakhstan, branches of non-resident insurance (reinsurance) organizations of the Republic of Kazakhstan, deprived of a license by the authorized state body and in the process of forced cessation of activities, are not permitted.

The provision of the second part of this article does not apply to restrictions imposed by the authorized body in the field of ensuring the execution of executive documents and its territorial bodies on the suspension of spending operations on the current account intended for the storage of recovered amounts in favor of claimants of a private judicial executor, whose license has been suspended or terminated or whose license has been deprived.

Paragraph 12 amended in accordance with the Law of the Republic of Kazakhstan dated June 24, 2021 No. 52-VII (entered into force on January 1, 2022) (see old edition)

Spending operations on the client's bank account are resumed after the withdrawal by the authorized state body or official of the decision and/or order on the suspension of spending operations on the bank account, the act on temporary restriction on the 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 Countering the Legalization (Money Laundering) of Proceeds Obtained by Criminal Means, Financing of Terrorism and Financing of the Proliferation of Weapons of Mass Destruction" and "On Rehabilitation and Bankruptcy".

A bank or an organization carrying out certain types of banking operations resumes spending operations on the client's bank account(s) before the withdrawal by the authorized body in the field of ensuring the receipt of taxes and other mandatory payments to the budget of the order on the suspension of spending operations on bank accounts in the event of the client's repayment of the tax debt amount specified in the order of the authorized body in the field of ensuring the receipt of taxes and other mandatory payments to the budget on the suspension of spending operations on bank accounts.

A seizure imposed on funds located in the client's bank account is lifted based on the corresponding written notification of the person entitled to impose a seizure on the client's funds on the cancellation of the previously adopted act on the imposition of a seizure on funds, or after the bank's execution of a collection order presented in execution of the previously imposed seizure on funds located in the bank account, or in cases provided for by the Law of the Republic of Kazakhstan "On Enforcement Proceedings and the Status of Judicial Executors".

The sender's bank returns without execution unfulfilled demands to the bank account, acts on temporary restriction on the disposal of property, decisions and/or orders of authorized state bodies or officials on the suspension of spending operations on the client's bank account, as well as acts of persons entitled to impose a seizure on the client's funds on the imposition of a seizure on funds located in the client's bank account, upon the closure of the client's bank account in the order determined by this Law.

The procedure for the actions of a bank and an organization carrying out certain types of banking operations upon receipt of an act on temporary restriction on the disposal of property, decisions and/or orders of authorized state bodies or officials on the suspension of spending operations on the bank account, acts on the imposition of a seizure on funds located in the 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

Closure of a client's bank account is carried out upon the client's application or independently by a bank or an organization carrying out certain types of banking operations in cases of termination of action or refusal to perform a bank account agreement, a bank deposit agreement in the order provided for by article 29 of this Law.

Closure of a bank account upon the client's application is not permitted in the presence of unfulfilled demands presented to the bank account, provided for in paragraph 3 of article 29 of this Law.

Actions of a bank account agreement and a bank deposit agreement terminate in the event of the termination of the client's - legal entity's activities due to its liquidation.

A bank or an organization carrying out certain types of banking operations carries out the closure of a client's - legal entity's bank account based on the entered information about the termination of the legal entity's activities in the National Registry of Business Identification Numbers.

See: Rules for opening, maintenance and closure of clients' bank accounts

See amendments to article 29 - Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII (enters into force on July 18, 2026)

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

A bank or an organization carrying out certain types of banking operations has the right to refuse to perform a bank account agreement or a bank deposit agreement in the following cases:

absence of funds in the client's bank account for more than one year;

Sub-paragraph 2 amended in accordance with the Law of the Republic of Kazakhstan dated January 21, 2019 No. 217-VI (see old edition)

absence of movement of funds in the client's bank account (except for a savings account, accounts intended for the crediting of benefits, social payments,

Source: Information system "PARAGRAPH" paid from the state budget and/or the State Social Insurance Fund,

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insurance, or pensions paid from the state budget and/or the Unified Savings Pension Fund, and/or the Voluntary Savings Pension Fund, as well as alimony (funds intended for the maintenance of minor and disabled adult children) for more than one year;
3) provided for by contracts with non-resident banks of the Republic of Kazakhstan.
2. A bank or an organization carrying out certain types of banking operations refuses to perform a bank account agreement or a bank deposit agreement on the grounds and in the manner provided for by this Law and the Law of the Republic of Kazakhstan "On Countering the Legalization (Money Laundering) of Proceeds Obtained by Criminal Means, Financing of Terrorism and Financing of Proliferation of Weapons of Mass Destruction."
3. Unilateral refusal to perform a bank account agreement or a bank deposit agreement by a bank or an organization carrying out certain types of banking operations is not permitted in the presence of:

unfulfilled claims to the bank account or unlifted acts on temporary restriction on the disposal of property, decisions and/or orders of authorized state bodies and/or officials to suspend cash operations on the bank account, as well as acts on the imposition of a lien on funds held in the client's bank account;
unfulfilled claims under a foreign exchange contract providing for export (import), submitted by the client to the bank or organization carrying out certain types of banking operations in accordance with the foreign exchange legislation of the Republic of Kazakhstan.

In the presence of the conditions provided for in subparagraph 1) of paragraph 3 of this article, the closure of the client's bank account by a bank or organization carrying out certain types of banking operations is permitted in the event 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 in the event of liquidation of the client - a legal entity.
In the presence of the conditions provided for in subparagraph 2) of paragraph 3 of this article, the closure of the client's bank account by a bank or organization carrying out certain types of banking operations is permitted in the event of unilateral refusal to perform the bank account agreement or bank deposit agreement in accordance with the Law of the Republic of Kazakhstan "On Countering the Legalization (Money Laundering) of Proceeds Obtained by Criminal Means, Financing of Terrorism and Financing of Proliferation of Weapons of Mass Destruction" or international treaties ratified by the Republic of Kazakhstan.
The bank or organization carrying out certain types of banking operations sends to the address available to the bank or organization carrying out certain types of banking operations a notification of refusal to perform the bank account agreement or bank deposit agreement in electronic form or by mail with a notification of its receipt, unless another procedure is provided for by the bank account agreement or bank deposit agreement.
In the absence of funds in the client's bank account, the bank or organization carrying out certain types of banking operations, after the expiration of three months from the date of sending the client a notification of refusal to perform the bank account agreement or bank deposit agreement, terminates the bank account agreement or bank deposit agreement and carries out the closure of the client's bank account, unless another procedure is provided for by the bank account agreement or bank deposit agreement.
Corresponding acts on temporary restriction on the disposal of property, decisions and/or orders of authorized state bodies and/or officials to suspend cash operations on the bank account, as well as acts of persons entitled to impose a lien on funds held in the bank account, within

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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 organization carrying out certain types of banking operations to the persons who submitted these claims.
Paragraph 9 amended in accordance with the Law of the Republic of Kazakhstan dated 21.01.19 No. 217-VI (see old edition)
9. In the presence of a balance of funds in the client's bank account (except for accounts intended for the crediting of benefits, 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 Savings Pension Fund, and/or the Voluntary Savings Pension Fund, as well as alimony (funds intended for the maintenance of minor and disabled adult children)), the bank or 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.
10. The size of the commission charged by the bank for maintaining the 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 the bank account of other clients.
11. In the event of unilateral refusal to perform the bank account agreement or 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.
12. The rules of this article apply to correspondent 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
On the territory of the Republic of Kazakhstan, in the course of payments and/or money transfers, the following types of payment instruments are used:

payment order;
payment demand;
check;
promissory note;
collection order;
payment order;
payment notice;
electronic payment instrument.
Article 31. Payment Order

The rights and obligations between the money sender and the money 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 money sender's bank.
See also: Rules for carrying out cashless payments and/or money transfers on the territory of the Republic of Kazakhstan
The payment order is accepted by the money 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 money sender to several beneficiaries served in one bank or one organization carrying out certain types of banking operations, or when the money sender's bank executes instructions of several money senders to one beneficiary, the use of a consolidated payment order is permitted.
A consolidated payment order, formatted on a paper carrier, is accompanied by a register of persons - money senders or beneficiaries in the manner determined by a normative legal act of the National Bank of the Republic of Kazakhstan.
Article 32. Payment Demand
Rights and obligations in payments using a payment demand arise from the moment it is presented to the money sender's bank.
The payment demand is presented to the beneficiary's bank or the money sender's bank within ten calendar days from the date of issue indicated in it, except in cases of its presentation in the manner provided for by Article 26 of this Law.
See also: Rules for carrying out cashless payments and/or money transfers on the territory of the Republic of Kazakhstan Paragraph 3 amended in accordance with the Law of the Republic of Kazakhstan dated 02.07.18 No. 168-VI (see old edition); redacted by the Law of the Republic of Kazakhstan dated 05.01.21 No. 407-VI (see old edition); amended in accordance with the Law of the Republic of Kazakhstan dated 27.12.21 No. 87-VII (see old edition)
The beneficiary's right to present a payment demand is established in the agreement between the money sender and the money sender's bank, except in cases of presentation by banks, an organization specializing in improving the quality of second-tier banks' credit portfolios, to assigned rights under bank loan agreements, by 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 managing holding, a payment demand for the recovery of overdue debt on a loan.
Paragraph 4 amended in accordance with the Law of the Republic of Kazakhstan dated 02.07.18 No. 168-VI (see old edition); Law of the Republic of Kazakhstan dated 05.01.21 No. 407-VI (see old edition); Law of the Republic of Kazakhstan dated 27.12.21 No. 87-VII (see old edition)
For the recovery of overdue debt on a loan in accordance with a concluded loan agreement, a credit line opening agreement or another document confirming the fact of a borrowing operation or the issuance of a guarantee, the use of a payment demand is permitted by banks, an organization specializing in improving the quality of second-tier banks' credit portfolios, to assigned rights under bank loan agreements, by 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 managing holding.
The payment demand is presented by banks, an organization specializing in improving the quality of second-tier banks' credit portfolios, to assigned rights under bank loan agreements, and 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 managing holding, to the money sender's bank on the basis of a document containing the money sender's consent to the withdrawal of funds from his bank account. The procedure for presenting a payment demand for the recovery 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 creditor bears responsibility for the justification of presenting a payment demand for the recovery of overdue debt on a loan.

Source: Information system "PARAGRAPH"

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

an agreement concluded between the money sender and the money sender's bank;
a loan agreement, a credit line opening agreement or another document confirming the fact of a borrowing operation or the issuance of a guarantee.
Paragraph 6 entered into force on January 1, 2017 Paragraph 6 amended in accordance with the Law of the Republic of Kazakhstan dated 02.07.18 No. 168-VI (see old edition); Law of the Republic of Kazakhstan dated 21.01.19 No. 217-VI (see dates of entry into force) (see old edition); Law of the Republic of Kazakhstan dated 19.06.24 No. 97-VIII (entered into force on August 20, 2024) (see old edition); Law of the Republic of Kazakhstan dated 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old edition)

Execution of a payment demand for the recovery of overdue debt on a loan by direct debit of the money 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 a money sender - a physical 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 held in it and/or from each amount of funds credited to the bank account of a money sender - a physical person from a legal entity or individual entrepreneur, without waiting for the entire amount indicated in the payment demand to be credited. The amount of funds retained in the current account or in aggregate in current accounts of a physical person or individual entrepreneur, if the physical 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 at least 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 held in the borrower - physical person's or individual entrepreneur's savings account, if the physical 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 the payee receives 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 does not complete the payment for which such a check was issued. The final execution of the drawer's monetary obligation occurs at the moment the payee receives the funds under the check.
The payee has the right to a monetary claim against the drawer's bank for the amount indicated 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. Promissory Note

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The use of promissory notes for carrying out cashless 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 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 money sender's bank.
Paragraph 3 redacted by the Law of the Republic of Kazakhstan dated 19.06.24 No. 97-VIII (entered into force on August 20, 2024) (see old edition)
Collection orders are presented by state revenue bodies, bailiffs, as well as the territorial body of justice through the state automated information system of the enforcement proceedings.
Paragraph 4 amended in accordance with the Law of the Republic of Kazakhstan dated 19.06.24 No. 97-VIII (entered into force on August 20, 2024) (see old edition)
Collection orders of bailiffs are presented to the money sender's bank with copies of enforcement documents on paper or in electronic form confirming the justification of this recovery based on the norms provided for by the laws of the Republic of Kazakhstan.
A collection order of the territorial body of justice, formed in the state automated information system of the enforcement proceedings, is sent to the money sender's bank in electronic form with enforcement documents confirming the recovery based on the norms provided for by the laws of the Republic of Kazakhstan. Paragraph 5 amended in accordance with the Law of the Republic of Kazakhstan dated 26.06.20 No. 349-VI (see old edition); Law of the Republic of Kazakhstan dated 19.06.24 No. 97-VIII (entered into force on August 20, 2024) (see old edition)
An enforcement document confirming the justification of the withdrawal of funds from the money sender's bank account without his consent is the basis for presenting to the bank or 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 information system of the enforcement proceedings, unless otherwise established in the text of the enforcement document.
The amount of payment and/or money transfer indicated in the enforcement document (if present) must match the amount indicated in the collection order, except in cases when:

the debtor has independently made a partial payment of the debt and the enforcement document has a note by the bailiff about this;
based on one enforcement sheet, joint recovery of debt is carried out in favor of several beneficiaries;
a ruling by the bailiff has determined the debt under an enforcement document for the recovery of periodic payments.
See: Letter of the Ministry of Justice of the Republic of Kazakhstan dated June 29, 2017 No. 3T-L-848 "On the issue of the procedure for recourse to the salary of employees by private bailiffs and payment for their activities"

Collection orders of state revenue bodies are presented without attaching documents confirming the justification of this recovery.
Collection orders of state revenue bodies are presented to banks or organizations carrying out certain types of banking operations with the corresponding lists determined by the legislation of the Republic of Kazakhstan on pension provision, mandatory social insurance, mandatory social medical insurance, for the recovery of debt on:

Source: Information system "PARAGRAPH"

mandatory pension contributions, mandatory professional pension contributions, social deductions; Third paragraph of part two of paragraph 6 entered into force on July 1, 2017 contributions and/or payments for mandatory social medical insurance; Fourth paragraph of part two of paragraph 6 entered into force on January 1, 2020 mandatory employer pension contributions.
7. 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 money sender's bank account without his consent.
Paragraph 8 amended in accordance with the Law of the Republic of Kazakhstan dated 26.06.20 No. 349-VI (see old edition); redacted by the Law of the Republic of Kazakhstan dated 19.06.24 No. 97-VIII (entered into force on August 20, 2024) (see old edition)
8. Execution of collection orders of state revenue bodies on the recovery of tax debt, bailiffs, and the territorial body of justice, formed in the state automated information system of the enforcement proceedings, on enforcement documents in case of insufficient funds in the money sender's bank account is carried out as funds are credited to such account no later than three operational days following the day of their receipt.
9. Responsibility for the justification of the withdrawal of funds from the money sender's bank account without his consent is borne by the initiator of the collection order. Banks and organizations carrying out certain types of banking operations do not consider on the merits objections of money senders against the deduction of funds from bank accounts without their consent.
Article 36. Payment Order

Cashless payment and/or money transfer between the money sender and the money sender's bank, including when the money 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 order.
In the payment order, the name of the bank (money sender's bank and beneficiary's bank) or organization carrying out certain types of banking operations may be indicated once.
Article 37. Payment Notice
A payment notice is used in carrying out cashless payments and/or money transfers without opening a money sender's bank account.
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 money sender is issued a check, 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.

Source: Information system "PARAGRAPH"
Chapter 7. PAYMENT CARD
Article 39. Issuance and use of a payment card

Issuance of payment cards within the territory of the Republic of Kazakhstan is carried out by payment service providers of the Republic of Kazakhstan that have the right to issue a payment card. The issuance and use of payment cards are carried out on the basis of a contract 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 them to holders of payment and other types of services in the manner and on the conditions of contracts concluded between them.
The method of conclusion and the terms of the contract, 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.
Article supplemented with subclause 1-1 in accordance with the Law of the Republic of Kazakhstan dated June 30, 2025 No. 205-VIII (entered into force on August 31, 2025)
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 within 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 a contract with the holder of the payment card for the use of the payment card, the issuer of the payment card is obliged to inform the holder of the payment card about the terms and security measures for using the payment card, methods of filing claims and the procedure for their consideration.
Deleted in accordance with the Law of the Republic of Kazakhstan dated December 30, 2020 No. 397-VI (entered into force on July 1, 2021) (see old version)
The issuer of the payment card places on its Internet resource information about the types and conditions for issuing payment cards, a standard contract for the issuance of a payment card, information about security measures for using the payment card.
The issuer of the payment card notifies the holder of the payment card about the amount of the fee charged for servicing the payment card or the accrual of debt in case of non-payment, as well as ensures the provision to the holder of the payment card of confirmation of the fact of payment by the holder of the payment card of the fee for servicing his payment card in the manner provided for by the contract between them.
Chapter 7 supplemented with Article 39-1 in accordance with the Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII (entered into force on March 19, 2026)
Article 39-1. Operations with payment cards
Operations with payment cards include:

issuance of a payment card, payments and/or transfers of money using a payment card or its details, including operations related to receiving cash, currency exchange and/or other operations determined by the issuer of the payment card;
payments and/or transfers of money using a bank account, access to which is provided by means of a payment card, including using an alternative identifier;
technological support for operations with payment cards, including collection, processing, storage of data, authentication of payment participants and sending information to participants in settlements for operations specified in subclauses 1) and 2) of this clause;

Source: Information system "PARAGRAPH"
4) clearing and settlement between participants in operations specified in subclauses 1) and 2) of this clause;
5) payment of fees for services specified in subclauses 1), 2), 3) and 4) of this clause, as well as fees between a 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 transfers of money using a payment card

Payment and/or transfer of money 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 participants in payment and/or transfer of money related to the use of payment cards arise from the moment an individual entrepreneur or legal entity gives consent to accept a payment made using a presented payment card.
An individual entrepreneur or legal entity acquires the right to a monetary claim against the bank that concluded an agreement with it for servicing payment cards, for the amount of the payment accepted by it. 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 when paid in cash.
The issuer of the payment card notifies the holder of the payment card about operations using the payment card in the cases and manner provided for by the contract between them.
The method and frequency of sending such notification, as well as the amount and procedure for the issuer of the payment card to charge a fee for notifying the holder of the payment card about operations using the payment card, are established in the contract 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 the holder of the payment card sending a notification about the loss of the payment card and/or unauthorized use of the payment card around the clock.
The holder of the payment card, upon discovering the fact of loss of the payment card or unauthorized use of the payment card, notifies the issuer of the payment card about this in the manner established by the contract between them. The issuer of the payment card, based on the notification from the holder of the payment card, blocks his payment card.
To compensate for an unauthorized operation, the holder of the payment card submits to the issuer of the payment card an application 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 contract with the holder of the payment card.
The issuer of the payment card is liable for unauthorized operations in the event of their commission after receiving a notification from the holder of the payment card about the loss of the payment card and/or unauthorized use of the payment card.
The issuer of the payment card, based on the application of the holder of the payment card for compensation for an unauthorized operation, takes measures to establish the fact of an unauthorized payment and within fifteen calendar days from the date of receiving 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 with the reason in the manner provided for by the contract between them.

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If additional study is necessary 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 about this in the manner established by the contract 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.
9. 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 the event of failure to notify the issuer of the payment card about the loss of the payment card or unauthorized use of the payment card.
10. 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 contract.
11. 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.
12. The issuer of the payment card considers appeals from the holder of the payment card, including in the event of dispute situations related to the use of the payment card or its details, within the time limit established by the contract, 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 the consideration of applications is sent to the holder of the payment card, including in written form (at the request of the holder of the payment card).
See: Response of the National Bank of the Republic of Kazakhstan dated August 13, 2025 (nationalbank.kz) "On deadlines for filing claims on disputed operations with payment cards"
13. The use of the payment card by its holder is suspended or terminated by the issuer of the payment card on the basis of a notification received from the holder or at the initiative of the issuer in case of violation by the holder of the procedure for using the payment card in accordance with the contract.
14. 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
Clause 1 amended in accordance with the Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII (entered into force on March 19, 2026) (see old version)

Processing and clearing of payments between banks of the Republic of Kazakhstan for operations carried out within the territory of the Republic of Kazakhstan using payment cards issued by them are carried out by the operator of the payment system included in the register of payment systems of the National Bank of the Republic of Kazakhstan, and in the manner determined by a 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 within 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 in ensuring

Source: Information system "PARAGRAPH" 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 a normative legal act of the National Bank of the Republic of Kazakhstan.
The Law will be supplemented with Chapter 7-1 - Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII (enters into force on July 18, 2026)
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 within the territory of the Republic of Kazakhstan must be denominated (expressed) only in the national currency of the Republic of Kazakhstan.
The National Bank of the Republic of Kazakhstan, banks and the National Operator of the Post have the right to issue electronic money.
Owners of electronic money may be:
Clause 1 amended in accordance with the Law of the Republic of Kazakhstan dated July 3, 2020 No. 359-VI (see old version)

individuals;
agents;
Clause 3 amended in accordance with the Law of the Republic of Kazakhstan dated July 3, 2020 No. 359-VI (see old version)
individual entrepreneurs and legal entities.

The rights of the owner of electronic money arise from the moment of receipt of electronic money.
Clause 5 amended in accordance with the Law of the Republic of Kazakhstan dated May 24, 2018 No. 156-VI (see old version); restated in the edition of the Law of the Republic of Kazakhstan dated July 3, 2020 No. 359-VI (see old version); amended in accordance with the Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII (entered into force on March 19, 2026) (see old version)
The issuer of electronic money is obliged to identify an individual in the event of his acquisition 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.
The issuer of electronic money, on the basis of a contract, has the right to authorize a legal entity that is a subject of financial monitoring in accordance with the Law of the Republic of Kazakhstan "On Countering the Legalization (Money Laundering) of Income Obtained by Criminal Means, 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 request 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 the presence of the owner of electronic money in person and presenting a document confirming his identity, or remotely on the basis of information from available sources obtained from the operational center of the interbank money transfer system.
Operators of the electronic money system may be the issuer of electronic money himself or a bank, an organization carrying out certain types of banking operations, or a payment organization on the basis of a corresponding contract concluded with the issuer (issuers) 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 contract concluded between them.

Source: Information system "PARAGRAPH"
Article supplemented with clause 6-1 in accordance with the Law of the Republic of Kazakhstan dated December 30, 2020 No. 397-VI (entered into force on July 1, 2021); amended in accordance with the Law of the Republic of Kazakhstan dated May 16, 2024 No. 82-VIII (entered into force on May 28, 2024) (see old version)
6-1. The procedure and features of crediting, accounting and use of benefits and social payments from the funds of the state budget and/or funds of the State Social Insurance Fund, 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 agreement with the National Bank of the Republic of Kazakhstan. Recovery of debt, seizure, 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 the funds of the state budget and/or funds of the State Social Insurance Fund, material assistance provided in accordance with subclause 1) of clause 4 of Article 112 of the Social Code of the Republic of Kazakhstan are not allowed.
7. The operator of the electronic money system, in accordance with the terms of contracts concluded with the issuer (issuers) of electronic money and on the basis of powers granted to him by the issuer (issuers) of electronic money, has the right to conclude on his (their) behalf contracts with individuals, agents, individual entrepreneurs and legal entities participating in the electronic money system.
In this case, the contract concluded by the owner of electronic money with the operator of the electronic money system is equated to a contract concluded with the issuer (issuers) of electronic money when using the electronic money issued by him (them) within one system, including the issuer (issuers) of electronic money who became participants of the electronic money system after the date of conclusion of this contract. Clause 8 restated in the edition of the Law of the Republic of Kazakhstan dated June 30, 2025 No. 205-VIII (entered into force on August 31, 2025) (see old version)
8. 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 within the territory of the Republic of Kazakhstan.
Clause 9 amended in accordance with the Law of the Republic of Kazakhstan dated July 3, 2020 No. 359-VI (see old version)
9. The operator of the 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 Law of the Republic of Kazakhstan "On Informatization" and other legislation of the Republic of Kazakhstan.
The issuer of electronic money and the operator of the electronic money system are liable to the owner of electronic money in accordance with the terms 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 attachment to the license of the bank-issuer of electronic money, the operator of the electronic money system ceases operations on electronic money issued by this issuer in the manner determined by a normative legal act of the National Bank of the Republic of Kazakhstan.
Article 43. Issuance and sale of electronic money
Clause 1 amended in accordance with the Law of the Republic of Kazakhstan dated December 30, 2020 No. 397-VI (entered into force on July 1, 2021) (see old version); by the Law of the Republic of Kazakhstan dated December 30, 2025 No. 246-VIII (entered into force on December 31, 2025) (see old version)

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 providing confirmation.
The issuance of electronic money in the electronic money system of a 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 providing confirmation;

Source: Information system "PARAGRAPH" based on successful authorization of the operation and its confirmation by the bank-issuer and payment system, carried out using the payment card of an individual, for payment of participation in a bet 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 clause 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 him in accordance with their nominal value in the national currency of the Republic of Kazakhstan.
2. The issuer of electronic money notifies the National Bank of the Republic of Kazakhstan in the manner determined by a normative legal act of the National Bank of the Republic of Kazakhstan about the commencement of activities for the issuance of electronic money.
3. The collection of a commission fee by the issuer of electronic money for the issuance of electronic money, as well as payment for additional services provided by the issuer of electronic money, is carried out in accordance with the terms of the concluded contract.
4. 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.
5. 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 an individual intending to participate in the electronic money system with information:

about the name and location of the issuer of electronic money and the operator of the electronic money system, and in cases where the operator of the electronic money system is not a bank, about its registration number;
about the terms of use of electronic money;
about the amount and procedure for collecting a commission fee by the issuer of electronic money and/or the operator of the electronic money system from the owner of electronic money for the issuance, use and redemption of electronic money;
about methods of filing 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 clause 4 of Article 13 of this Law, the contract on the issuance, use and redemption of electronic money must contain:

conditions for the issuance (acquisition) of electronic money;
conditions for carrying out operations using electronic money, including restrictions on the use of electronic money established;
procedure for certifying the rights of the owner of electronic money to electronic money and carrying out operations with their use;
procedure and methods for presenting electronic money for redemption and procedure for their redemption;
procedure and methods 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

Source: Information system "PARAGRAPH"

electronic funds in case of loss of control over electronic funds or their unauthorized use;
6) liability of the parties for non-performance or improper performance of their
obligations.
7. Implementation of electronic money to individuals or purchase 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 are determined, the procedure and conditions for implementation and purchase of electronic money.
Article 44. Use and Redemption of Electronic Money
Paragraph 1 has been amended in accordance with the Law of the Republic of Kazakhstan dated 03.07.20 No. 359-VI (see old version)

Electronic money is used by their owner for the purpose of making payments on
civil law transactions, as well as conducting other operations on the terms defined by the rules of the electronic money system and not contradicting the legislation of the Republic of Kazakhstan.
Paragraph 1-1 added in accordance with the Law of the Republic of Kazakhstan dated 03.07.20 No. 359-VI 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, the owners of which are unidentified physical persons, are not subject to redemption by the issuer of electronic money and sale to the agent (purchase by the 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, being a participant of the electronic money system.
An individual entrepreneur and/or a legal entity that has received electronic money in the electronic money system when making civil law transactions has the right to a 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 introduce in the electronic money system organizational and procedural measures for the purpose of identifying, as well as preventing fraud and 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 Combating Legalization (Money Laundering) of Income Obtained by Criminal Means, Financing of Terrorism and Financing of the Proliferation of Weapons of Mass Destruction". The operator of the electronic money system provides to the authorized body for financial monitoring data and information on operations subject to financial monitoring in accordance with the requirements of the Law of the Republic of Kazakhstan "On Combating Legalization (Money Laundering) of Income Obtained by Criminal Means, Financing of Terrorism and Financing of the Proliferation of Weapons of Mass Destruction". The issuer of electronic money provides to the authorized body for financial monitoring information on operators of electronic money that are not banks after concluding a corresponding contract with them. Paragraph 4 has been amended in accordance with the Law of the Republic of Kazakhstan dated 02.07.18 No. 168-VI (see old version); Law of the Republic of Kazakhstan dated 03.07.20 No. 359-VI (see old version); presented in the edition of the Law of the Republic of Kazakhstan dated 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old version)
The maximum amount of one operation carried out by an unidentified owner
of electronic money - a physical person, must not exceed an amount equal to three times the

Source: Information system "PARAGRAPH" size of the monthly calculation indicator established for the corresponding financial year by the law on the republican budget.
Paragraph 5 has been amended in accordance with the Law of the Republic of Kazakhstan dated 03.07.20 No. 359-VI (see old version); presented in the edition of the Law of the Republic of Kazakhstan dated 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old version)
5. 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.
Paragraph 5-1 added in accordance with the Law of the Republic of Kazakhstan dated 03.07.20 No. 359-VI; presented in the edition of the Law of the Republic of Kazakhstan dated 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old version) 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 must 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. Paragraph 6 has been amended in accordance with the Law of the Republic of Kazakhstan dated 03.07.20 No. 359-VI (see old version)
6. Redemption of electronic money is carried out by the issuer of electronic money by
cr transferring an equal nominal amount of money to the bank account of an identified owner of electronic money - a physical person or issuing him cash, unless otherwise the commission fee of the issuer of electronic money or the operator of the electronic money system is not provided for by the contract concluded between the issuer of electronic money and the owner of electronic money - a physical person.
7. Charging a commission fee from the owner of electronic money for the issuance, use and redemption of electronic money, as well as a fee for additional services
provided by the issuer of electronic money, is carried out in accordance with the terms of the contract on the issuance, use and redemption of electronic money.
Paragraph 8 has been amended in accordance with the Law of the Republic of Kazakhstan dated 02.07.18 No. 168-VI (see old version)
8. The issuer of electronic money carries out the redemption of electronic money received
by an individual entrepreneur or a legal entity from physical persons 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 for by the contract concluded between the issuer of electronic money and the individual entrepreneur or legal entity. When carrying out transactions with securities, paying remuneration using electronic money, paying related to stimulating the use of electronic money, transfer of electronic money by a legal entity to other legal or physical persons is allowed. Electronic money received by an individual entrepreneur or a legal entity is not subject to redemption upon their return to a physical person - payer on grounds provided for by this Law for the return of money upon 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, the owners of which are individual entrepreneurs or legal entities, is carried out by transferring an equal nominal amount of money to the bank account of the individual entrepreneur or legal entity, unless otherwise the commission fee of the issuer of electronic money or the operator of the electronic money system is not provided for by the contract concluded between the issuer of electronic money or the operator of the electronic money system and the owner of electronic money. Paragraph 9 added in accordance with the Law of the Republic of Kazakhstan dated 13.05.20 No. 325-VI (entered into force on November 15, 2020); amended in accordance with the Law of the Republic of Kazakhstan dated 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old version)
9. Information on owners and amounts of electronic money belonging to them, as well as on
operations carried out using electronic money, are issued by the issuer

Source: Information system "PARAGRAPH" electronic money or the operator of the electronic money system 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". Paragraph 10 added in accordance with the Law of the Republic of Kazakhstan dated 03.07.20 No. 359-VI
10. It is prohibited to carry out redemption of electronic money by transferring money to
a 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 the electronic payment instrument by this physical person.
Chapter 9. ACCEPTANCE AND EXECUTION OF AN INSTRUCTION IN THE FORM OF A POWER OF ATTORNEY OR
A DEMAND
Article 45. Presentation of an instruction in the form of a power of attorney or a demand

An instruction in the form of a power of attorney or a demand may be presented in electronic
form or on a paper carrier.
An instruction on a paper carrier is drawn up on a form of established form and must contain:

details in accordance with the requirements of the normative legal act of the National
Bank of the Republic of Kazakhstan;
Subparagraph 2 presented in the edition of the Law of the Republic of Kazakhstan dated 24.05.18 No. 156-VI (see old version)
signatures of the initiator and a seal impression, except for subjects of private
entrepreneurship and legal entities - non-residents of the Republic of Kazakhstan, which lack a seal according to the legislation of the country of origin of such legal entities.

Acceptance of an instruction and an order to revoke it or suspend its execution
is carried out by the sender's bank only during the operational day established by it.
If an instruction or an order to revoke it or suspend its execution
is received after the end of the operational day established by the sender's bank, then such an instruction or order is considered to have been received by the sender's bank at the beginning of the next operational day.
Presentation of an instruction, an order to revoke it or suspend its execution
is carried out:

by transmitting electronically, without drawing up on a paper carrier, using
corresponding electronic communication channels and telecommunications network;
on an electronic carrier in the absence of the possibility of using electronic
communication channels and telecommunications network;
by presenting the original payment document, an order to revoke it or
suspend its execution, executed on a paper carrier.

Presentation of an instruction, an order to revoke it or suspend its execution
electronically or on an electronic carrier is allowed only upon compliance with the requirements established by the normative legal acts of the National Bank of the Republic of Kazakhstan.
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.

Source: Information system "PARAGRAPH"
8. An instruction, an order to revoke it or suspend its execution is drawn up in
Kazakh and/or Russian. 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 (her) client.
See changes to Article 46 - Law of the Republic of Kazakhstan dated 16.01.26 No. 259-VIII (enters into force on July 18, 2026)
Article 46. Execution of an instruction

Upon acceptance by a bank or organization carrying out certain types of banking
operations of an instruction, the bank or organization carrying out certain types of banking operations is obliged to check it for compliance with the 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 the terms of the contract, and execute it in compliance with the conditions specified in it, unless otherwise provided for by the legislation of the Republic of Kazakhstan, or refuse to execute it. The first part of paragraph 2 was in effect until June 1, 2017 (see old version)
Execution of an instruction presented by means of a collection order,
is carried out by a bank or organization carrying out certain types of banking operations no later than three operational days following the day of receipt of the instruction, except for execution of a collection order for indefinite terms, 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 operational day.
International payments and/or transfers of money are executed no later than three
operational days following the day of receipt of the instruction, in compliance with the requirements established by the currency legislation of the Republic of Kazakhstan.
The first part of paragraph 5 was in effect until June 1, 2017 (see old version)
The beneficiary's bank refuses to execute the instruction within the operational day
of receipt of the instruction, indicating the reason for refusal.
For the execution of an instruction by the sender's bank, the sender of money is obliged to ensure
the amount of money necessary for its execution, unless otherwise provided for in the contract between the sender of money and the sender's bank.
Paragraph 7 has been amended in accordance with the Law of the Republic of Kazakhstan dated 02.07.18 No. 168-VI (see old version)
Refusal to execute an instruction by a bank or organization carrying out certain types
of banking operations is made on the following grounds:

in case of non-coverage by the sender of money of the amount of money necessary for carrying out
the payment and/or transfer, if the contract does not provide for the provision by the payment service provider to the client of a service for providing a loan for carrying out this payment and/or transfer of money;
if the instruction contains signs of forgery, correction, addition and smudge, including
if the instruction is transmitted with a 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;
in case of non-compliance by the initiator with the 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 and/or the terms of the contract; Changes made to subparagraph 4 in accordance with the Law of the Republic of Kazakhstan dated 08.07.24 No. 116-VIII (entered into force on September 9, 2024) (see old version)
in cases provided for by the Law of the Republic of Kazakhstan "On Combating
Legalization (Money Laundering) of Income Obtained by Criminal Means, Financing of Terrorism and Financing of the Proliferation of Weapons of Mass Destruction", the Law

Source: Information system "PARAGRAPH"
Republic of Kazakhstan "On Gambling Business" or international treaties, ratified by the Republic of Kazakhstan, or provided for by a contract with banks non-residents of the Republic of Kazakhstan; Subparagraph 4-1 added to paragraph 7 in accordance with the Law of the Republic of Kazakhstan dated 30.06.25 No. 204-VIII (entered into force on January 2, 2026) 4-1) in the absence of a registered contract for co-financing in housing construction with the authorized company in the unified information system of co-financing in housing construction when making payment for the acquisition of a share in a building apartment house or a complex of individual residential houses under a contract for co-financing in housing construction; Changes made to subparagraph 5 in accordance with the Law of the Republic of Kazakhstan dated 05.07.17 No. 88-VI (see old version); presented in the edition of the Law of the Republic of Kazakhstan dated 12.12.17 No. 114-VI (entered into force on January 1, 2018) (see old version); amended in accordance with the Law of the Republic of Kazakhstan dated 26.06.20 No. 349-VI (see old version); Law of the Republic of Kazakhstan dated 02.01.21 No. 399-VI (entered into force on January 1, 2021) (see old version); Law of the Republic of Kazakhstan dated 15.11.21 No. 72-VII (entered into force on January 1, 2022) (see old version); Law of the Republic of Kazakhstan dated 12.07.22 No. 138-VII (entered into force on September 12, 2022) (see old version); Law of the Republic of Kazakhstan dated 30.12.22 No. 177-VII (entered into force on January 12, 2023) (see old version); Law of the Republic of Kazakhstan dated 16.11.23 No. 40-VIII (entered into force on January 1, 2024) (see old version); Law of the Republic of Kazakhstan dated 16.05.24 No. 82-VIII (entered into force on May 28, 2024) (see old version); Law of the Republic of Kazakhstan dated 10.01.25 No. 153-VIII (entered into force on March 13, 2025) (see old version); Law of the Republic of Kazakhstan dated 22.11.24 No. 138-VIII (entered into force on May 24, 2025) (see old version); Law of the Republic of Kazakhstan dated 30.06.25 No. 204-VIII (entered into force on July 12, 2025) (see old version); Law of the Republic of Kazakhstan dated 30.06.25 No. 205-VIII (entered into force on August 31, 2025) (see old version)
5) in cases where 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 suffering as a result of a natural or technogenic emergency situation, 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 accumulated pension fund for the purpose of improving housing conditions and/or payment for treatment, target assets, payments of target accumulations from the unified accumulated pension fund for the purpose of improving housing conditions and/or payment for education, payments of accumulations from the educational accumulated deposit or insurance payments under an educational accumulated insurance contract for improving housing conditions, money located in 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 payment for rented housing in the private housing fund, money deposited on the conditions of a notary's deposit, money located 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 accumulated 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 accumulated 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 in the form of housing construction savings, being the subject of a pledge for bank loans issued, in the form of payments of accumulations from the educational accumulated deposit or insurance payments under an educational accumulated insurance contract for improving housing conditions, money located in the current account of a private judicial executor, intended for storing recovered amounts in favor of claimants, money located in bank accounts intended for accounting of money of clients of a managing investment portfolio, for unfulfilled obligations of this managing investment portfolio, money located in bank accounts, intended for accounting of money of clients of a person carrying out the functions of a nominal holder, for unfulfilled obligations of this person carrying out the functions of a nominal holder, money located in bank accounts for carrying out clearing activities for transactions with financial instruments, money located in a bank account of a single operator in the field of state procurement, intended for depositing by potential suppliers or suppliers of money as security measures within the
framework of participation in state procurements in accordance with the Law of the Republic of Kazakhstan "On State Procurement", money located in bank accounts in banks of the second level in the form of accumulations for capital repair of common property of a condominium object, except for recoveries on the basis of court decisions on cases of non-fulfillment of obligations under contracts concluded for the purpose of carrying out capital repair of common property of a condominium object, as well as to a bank account under a contract on an educational accumulated deposit concluded in accordance with the Law of the Republic of Kazakhstan "On the State Educational Accumulation System"; Subparagraph 5-1 added to paragraph in accordance with the Law of the Republic of Kazakhstan dated 21.01.19 No. 217-VI 5-1) in cases where a payment demand for recovery of overdue debt on a loan is presented to a bank account intended for crediting alimony (money intended for the maintenance of minors and incapacitated adult children); Subparagraph 5-2 added in accordance with the Law of the Republic of Kazakhstan dated 30.12.22 No. 179-VII (entered into force on March 3, 2023) 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 a bankruptcy case has been initiated in the manner provided for by the Law of the Republic of Kazakhstan "On Rehabilitation and Bankruptcy", or regarding whom a case has been initiated on the application of a procedure or a procedure has been applied in the manner provided for 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 in favor of the beneficiary;
7) in the presence of decisions and/or orders of authorized state bodies
or officials on suspension of expenditure operations on a client's bank account, temporary restriction on disposal of property, unsecured acts on placing a lien on money located in a client's bank account, as well as instructions, subject to execution in the first priority in accordance with the legislation of the Republic of Kazakhstan; Subparagraph 8 added to paragraph in accordance with the Law of the Republic of Kazakhstan dated 12.07.22 No. 138-VII (entered into force on September 12, 2022)
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 to execute an instruction by a bank or organization carrying out certain types of banking operations on the grounds specified in subparagraphs 1) and 7) of the first part of this paragraph does not apply to collection orders, as well as payment documents, storage of which is provided for by the contract between the sender of money and the sender's bank.
8. Execution of an instruction is the performance by a bank or organization carrying out certain types
of banking operations of the conditions of the received instruction:

transfer of the instruction to the next bank or organization carrying out certain types
of banking operations, in case the bank or organization carrying out certain types of banking operations does not service the beneficiary;
completion of the transfer of money, if the sender's bank is the beneficiary's bank;
issuance of cash to the initiator who presents an order for cash payment, in the event that the bank or organization carrying out certain types of banking operations serves the sender of the money.

The beneficiary's bank has the right to set off in favor of a third party or in its own favor the amount of money specified in the instruction it is executing against the amount of the beneficiary's obligation to the third party or to such bank or organization carrying out certain types of banking operations, the performance period of which has arrived at the moment of receipt of such instruction by the beneficiary's bank, taking into account compliance with the order of withdrawal of money from the bank or organization carrying out certain types of banking operations established by the laws of the Republic of Kazakhstan.

Article 47 was brought into force on June 1, 2017
See changes to Article 47 - Law of the RK of 16.01.26 No. 259-VIII (brought into force on July 18, 2026)

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

The payment service specified in sub-item 9) of item 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 remote access system of the third-party payment service provider and confirmed by means of an identification tool.
The payment service provider serving the client's bank account, after receiving the client's instruction through the remote access system of the third-party payment service provider, immediately sends confirmation of the execution of the payment and/or transfer of money to the third-party payment service provider and/or to the client.
The payment service provider serving the client's bank account executes the client's instructions received through the remote access system of the third-party payment service provider in the manner and timeframes established by Articles 46-49 of this Law, complying with the order of protective actions against unauthorized payments.
In cases of processing and execution of a client's instruction through the remote access system of a third-party payment service provider within a specific payment system or contractual relations with a payment service provider serving the bank account, the order of settlements with the latter is determined by the rules of this payment system or the terms of the contract.
The third-party payment service provider is liable to the client and the payment service provider serving the bank account for the consequences of carrying out unauthorized payments and/or fraudulent actions on payments and/or transfers of money carried out in its remote access system.

Article 48 was brought into force on June 1, 2017
See changes to Article 48 - Law of the RK of 16.01.26 No. 259-VIII (brought into force on July 18, 2026)

Article 48. Timeframes for execution of instructions

The bank or organization carrying out certain types of banking operations ensures the execution of the instruction on the day it is initiated by the sender.
Execution of the instruction for crediting money to the beneficiary's bank account or another account reflecting the receipt of money in favor of the beneficiary is carried out by the beneficiary's bank within the operational day on the day of receipt of the instruction, except for the case provided for in item 2 of Article 53 of this Law.

Item 3 was amended in accordance with the Law of the RK of 02.07.18 No. 168-VI (see old ed.)

The norms of items 1 and 2 of this article do not apply to the execution of instructions:

presented by means of a collection order;
subject to execution at indefinite terms;
with a future valuation date;
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;
expressed as the client's consent when using electronic payment instruments to purchase goods or services at a point of sale or when carrying out e-commerce;
excluded in accordance with the Law of the RK of 02.07.18 No. 168-VI (see old ed.)

Item 3 was supplemented with sub-item 7 in accordance with the Law of the RK of 02.07.18 No. 168-VI
7) presented by means of a payment demand for the recovery of overdue debt on a loan.

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

Item 4 was amended in accordance with the Law of the RK of 02.07.18 No. 168-VI (see old ed.)

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

Article 49. Execution of an instruction with a valuation date

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

See changes to Article 50 - Law of the RK of 16.01.26 No. 259-VIII (brought into force on July 1, 2026)

Article 50. Revocation and suspension of execution of an instruction

Item 1 was amended in accordance with the Law of the RK of 26.06.20 No. 349-VI (see old ed.); Law of the RK of 19.06.24 No. 97-VIII (brought into force on August 20, 2024) (see old ed.)

Revocation 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 sender's bank, and/or before the sender's bank sends information to the beneficiary about the acceptance of the payment in his favor. The timeframe for execution of the revocation order, as well as the method of its transmission, are established by the contract and/or a normative legal act of the National Bank of the Republic of Kazakhstan.

Revocation of a collection order of a territorial body of justice formed in the state automated information system of executive proceedings, a private judicial executor whose license has been suspended or terminated or who has been deprived of a license, is carried out in the manner established by the Law of the Republic of Kazakhstan "On Executive Proceedings and the Status of Judicial Executors".

When sending an order to revoke an instruction or suspend execution of an instruction by electronic means, the order of protective actions established by the contract between the initiator of these orders and the sender's bank is observed.
Upon timely receipt of the order to revoke an instruction, the sender's bank does not carry out the 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 the initiator a notification of execution of the received order.

Item 4 was amended in accordance with the Law of the RK of 02.07.18 No. 168-VI (brought into force on January 1, 2019) (see old ed.); Law of the RK of 21.05.24 No. 86-VIII (brought into force on July 22, 2024) (see old ed.)

Execution of an instruction is suspended in cases provided for in Article 61-9 of the Law of the Republic of Kazakhstan "On Banks and Banking Activity in the Republic of Kazakhstan", the legislation of the Republic of Kazakhstan on payments and payment systems, countering the legalization (laundering) of proceeds obtained by criminal means, financing of terrorism and financing of proliferation of weapons of mass destruction, as well as if the sender's bank is presented in accordance with the laws of the Republic of Kazakhstan an act on placing a lien on money located in a bank account, a temporary restriction on disposing of property, a decision and/or order of an authorized state body or officials to suspend cash operations on the bank account of the sender of money or the sender's bank, as well as a decision of an authorized state body, official or judicial executor on the seizure of money from the sender of money, subject to execution in accordance with the laws of the Republic of Kazakhstan earlier than this instruction. The sender's bank does not bear liability for losses associated with the suspension of execution of the instruction on the above grounds.
Revocation of an instruction and suspension of execution of an instruction are not allowed for payments and/or transfers of money related to the payment of fees to the budget and payment of state services, information and data on which are provided by banks to state bodies, courts through the payment gateway of the "e-government" in accordance with item 10 of Article 25 of this Law.
Carrying out a payment, issuance and execution of an instruction, issuance of money by the beneficiary's bank 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 order of the sender of money

A standing order of the sender of money is used by the sender of money to carry out regular payments and/or transfers of money in favor of the beneficiary on a set date and/or period on terms determined between the sender of money and the sender's bank.
The form and requirements for the content of a standing order of the sender of money are established by the National Bank of the Republic of Kazakhstan.
A standing order of the sender of money may be drawn up on paper or in electronic form in the manner determined by the sender's bank.
To cancel the action of a standing order of the sender of money, a corresponding notification is sent to the sender's bank in the manner determined by the sender's bank.
The name of the beneficiary's documents confirming the monetary obligation of the sender of money (confirming documents) may be specified in the standing order of the sender of money, the payment of which the sender of money entrusts to the sender's bank.
In accordance with the terms of the standing order of the sender of money or upon receipt by the sender's bank of confirming documents, the sender's bank forms a payment order in favor of the beneficiary on behalf of the sender of money in the manner determined by a 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 the sender's bank account is carried out based on the prior consent of the sender of money to debit money from his bank account using a payment demand or payment order, which are presented in accordance with:

a contract concluded between the sender of money and the sender's bank and serving as the basis for executing claims presented for the purpose of fulfilling the monetary obligations of the sender of money;

Sub-item 2 was amended in accordance with the Law of the RK of 02.07.18 No. 168-VI (see old ed.); Law of the RK of 05.01.21 No. 407-VI (see old ed.); Law of the RK of 27.12.21 No. 87-VII (see old ed.)
2) a contract concluded between the sender of money and the bank, mortgage organization or organization 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, including a loan agreement, under which the rights of claim have been assigned to an organization specializing in improving the quality of credit portfolios of second-tier banks, serving as the basis for recovering 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 sender's bank provides for the prior consent of the sender of money to execute payment documents of the beneficiary and specifies the details of the beneficiary (name, identification number) and the contract (number, date), in accordance with which the beneficiary uses a payment demand to carry out a payment by direct debit of the sender's bank account.

It is allowed to present to the sender's bank by the sender of money an application specifying the conditions indicated in the first part of this item.

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 the consent of the sender of money to withdraw money from his bank account upon presentation of a claim for recovery of overdue debt on a loan.
Beneficiary documents 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 a condition is provided for in the contract between them, except for the presentation of a payment demand for the recovery of debt on a loan.
The procedure for carrying out a payment by direct debit of the sender's bank account is determined by a normative legal act of the National Bank of the Republic of Kazakhstan.
Liability for the justification of the withdrawal of money from the sender's bank account by direct debit of the bank account based on a payment demand or payment order is borne by the beneficiary.

See changes to Article 53 - Law of the RK of 16.01.26 No. 259-VIII (brought into force on July 1, 2026)

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

In the absence or insufficiency of the amount of money of the sender of money necessary for the execution of the instruction, storage of which is provided for by the legislation of the Republic of Kazakhstan or a contract between the sender of money and the sender's bank, the sender's bank is obliged to accept and store the received instructions for one year.
In the event that the beneficiary does not take actions to present the necessary documents and information provided for by the currency legislation of the Republic of Kazakhstan, the beneficiary's bank is obliged to accept and store the received instructions of the sender for one hundred eighty calendar days.
In the event of non-performance by the beneficiary of the actions provided for in the first part of this item within one hundred eighty calendar days, the beneficiary's bank is obliged to return such instructions to its sender without execution.
Execution by the sender's bank of instructions provided for in item 1 of this article is carried out in calendar order in the order of their receipt by the bank or organization carrying out certain types of banking operations, taking into account compliance with the order of execution of instructions provided for by the laws of the Republic of Kazakhstan.
Calendar order provides for the date and time of receipt of instructions by the sender's bank.
If after the expiration of the timeframe established in item 1 of this article, the presented instruction of the sender was not executed due to insufficient or absence of money of the sender, then the sender's bank is obliged to return such instruction to its sender without execution, except for a collection order.
During the restructuring of a bank or organization carrying out certain types of banking operations in connection with the implementation of a set of measures provided for by the restructuring plan, the bank or organization carrying out certain types of banking operations accepts and stores instructions, obligations under which are suspended by the bank or organization carrying out certain types of banking operations, and are contained in the restructuring plan until the cessation of restructuring. In the event of termination of restructuring of 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 return such instruction to its sender without execution.
Instructions under which obligations are not suspended and are not included in the restructuring plan are executed in the manner determined by this Law and other laws of the Republic of Kazakhstan.

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

Item 1 was amended in accordance with the Law of the RK of 21.01.19 No. 217-VI (brought into force on April 24, 2019) (see old ed.)

A judicial act of a court of the Republic of Kazakhstan on the recovery of money, as well as a ruling of a judicial executor or its copy, certified by the seal of a territorial department of the executive production body or the seal of a private judicial executor, on obtaining information about the numbers of bank accounts and the presence of money on them, information about the nature and cost of property located in banks, organizations carrying out certain types of banking operations, as well as in insurance organizations, and placing a lien on them, sanctioned by a prosecutor, are presented to all banks, except for the case provided for in item 4 of this article.
The bank, organization carrying out certain types of banking operations, based on the documents specified in item 1 of this article, is obliged within three operational days from the day of receipt of the specified documents to send the necessary information to the court (judicial executor) 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 the specified information from banks, determines the bank (banks) on which the obligation to execute the judicial act on the recovery of money will be imposed, and sends to such bank (banks) an instruction with the attachment of the corresponding executive document or its copy, certified by the seal of the court.
If the court (judicial executor) has information about the presence of money in the bank account of a person from whom the recovery of money should be made, then the instruction of the judicial executor with the attachment of the corresponding executive document is presented for execution directly to the corresponding bank.
Obtaining information by the court (judicial executor) about the presence and numbers of bank accounts of a physical or legal entity and/or its structural subdivision, as well as current accounts of a physical person carrying out entrepreneurial activity without forming a legal entity, a private notary, a private judicial executor, a lawyer, a professional mediator about balances and movement of money in these accounts, as well as placing a lien on the debtor's money located in the bank, is carried out on paper or in electronic form.

The Law was supplemented with Article 54-1 in accordance with the Law of the RK of 19.06.24 No. 97-VIII (brought into force on August 20, 2024)

Article 54-1. Execution of a ruling of a territorial body of justice formed in the state automated information system of executive proceedings

A ruling of a territorial body of justice formed in the state automated information system of executive proceedings, certified by means of an electronic digital signature of the head of the territorial body of justice or his deputy, on obtaining information about the numbers of bank accounts and the presence of money on them, information about the nature and cost of property located in banks, organizations carrying out certain types of banking operations, as well as in insurance organizations, and placing a lien on them, is presented to banks, organizations carrying out certain types of banking operations, through the state automated information system of executive proceedings.
The bank, organization carrying out certain types of banking operations, based on the document specified in item 1 of this article, is obliged within three operational days from the day of receipt of the specified document to send the necessary information to the state automated information system of executive 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 through the state automated information system of executive proceedings to the bank, organization carrying out certain types of banking operations, a collection order with the attachment of an executive document.

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

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

If a payment is carried out using cash, then the completion of the payment occurs at the moment of receipt of the money 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 carried out by issuing a payment document, then the completion of the payment occurs at the moment of receipt of the money by the person in whose favor the payment is made.
If a payment without the use of cash is carried out by transferring money, then the completion of the payment occurs at the moment of completion of the transfer of money by:

Source: Information system "PARAGRAPH"

making an accounting entry to the beneficiary's bank account upon receipt of funds to their benefit;
actual issuance of cash to the beneficiary by the beneficiary's bank, if the beneficiary does not have a bank account;
making a set-off provided for in paragraph 9 of Article 46 of this Law;
making an accounting entry to another account reflecting the receipt of funds to the benefit of the beneficiary.

When carrying out a non-cash payment by issuing a payment document containing a monetary obligation or an order to pay money (a check, a bill of exchange), the completion of the fulfillment of obligations under such payment occurs at the moment the beneficiary receives the money under the check or bill of exchange.
If the payment is made by transferring electronic money, then 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 received electronic money in the electronic money system, indicating their receipt to the benefit of another person-beneficiary, is the moment of receipt of electronic money.

Article 56. Unauthorized Payments

A payment is 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 the event of carrying out a payment by transferring money, the payment will also be authorized if the instruction is accepted by the sender's bank in compliance with the established order of protective actions against unauthorized payments.
Unauthorized are payments and/or transfers of money carried out without compliance with the requirements established by paragraph 1 of this Article. Unauthorized payments and/or transfers of money also include payments or transfers of money using forged payment instruments.
Protection against unauthorized payments and/or transfers of money is the 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.
The bank, organization carrying out certain types of banking operations, or the sender of money when making payments using electronic payment means ensures the execution 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, a signature, including an electronic digital signature, of an authorized person(s), seals, algorithms, codes (digital, alphabetic, using symbols and combined), words-identifiers 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 money and/or by the rules of functioning of the electronic document exchange system in which the transfer of electronic documents is carried out.

See amendments to Article 57 - Law of RK dated 16.01.26 No. 259-VIII (enters into force on July 1, 2026)

Article 57. Return of Funds for Payments and/or Transfers of Money

The return of funds when transferring money is carried out in the following cases:

Source: Information system "PARAGRAPH"

establishment of the fact of unauthorized nature of the payment carried out by transferring money;
execution of an erroneous instruction;
Paragraph supplemented with sub-paragraph 3 in accordance with Law of RK dated 02.07.18 No. 168-VI
receipt of funds to the benefit of a person who is not a client of the beneficiary's bank at the moment of receiving the transfer of money, if there are unfulfilled requirements or restrictions on the disposal of funds on the correspondent account of the beneficiary's bank preventing the conduct of expense operations;
Paragraph supplemented with sub-paragraph 4 in accordance with Law of RK dated 02.07.18 No. 168-VI
provided for in Article 48-1 of the Law of the Republic of Kazakhstan "On Banks and Banking Activity in the Republic of Kazakhstan";
Paragraph supplemented with sub-paragraph 5 in accordance with Law of RK dated 30.06.25 No. 205-VIII (enters into force on August 31, 2025); amended in accordance with Law of RK dated 16.01.26 No. 259-VIII (enters into force on March 19, 2026) (see old version)
receipt by the beneficiary's bank of a ruling of a criminal prosecution body, coordinated by a prosecutor, recognizing the transaction as fraudulent and requiring the return to the client specified in the ruling of the amount of money blocked in the manner provided for in Article 25-1 of this Law.

The procedure for the return of 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:

contains details that do not correspond to the details of the instruction received from the previous sender;
is transmitted repeatedly.
Paragraph 3 amended in accordance with Law of RK dated 30.06.25 No. 205-VIII (enters into force on August 31, 2025) (see old version)

The return of funds for an erroneous instruction or unauthorized payment and/or transfer of money, 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 the specified funds were credited, without their consent.
Article supplemented with paragraph 3-1 in accordance with Law of RK dated 02.07.18 No. 168-VI

3-1. The return of funds in the cases provided for in sub-paragraphs 3) and 4) of paragraph 1 of this Article is carried out to the address of the sender.
Paragraph 4 presented in the edition of Law of RK dated 30.06.25 No. 205-VIII (enters into force on August 31, 2025) (see old version); amended in accordance with Law of RK dated 16.01.26 No. 259-VIII (enters into force on March 19, 2026) (see old version)

The return of funds for an erroneous instruction or unauthorized payment and/or transfer of money, 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 day of discovery of the fact of erroneous nature of the instruction or unauthorized nature of the payment and/or transfer of money or from the day of receipt of the ruling of the criminal prosecution body, coordinated by a prosecutor, recognizing the transaction as fraudulent at the expense of available funds in the beneficiary's bank account, including in the event that there are acts of imposing a seizure on funds located in the bank account and/or temporary restrictions on the disposal of property and/or decisions and/or orders of authorized state bodies or officials on suspending expense operations on the bank account, and/or unfulfilled instructions subject to execution in indefinite terms.
In cases of insufficient or absence of funds in the beneficiary's bank account, the return of funds for an erroneous instruction or unauthorized payment and/or transfer of money is carried out by the sender who made the erroneous instruction or unauthorized payment and/or transfer of money, at the expense of their own funds in the manner and time limits established by the National Bank of the Republic of Kazakhstan.

Source: Information system "PARAGRAPH"

The return of funds is not produced after the expiration of three years from the day of execution of the erroneous instruction or unauthorized payment and/or transfer of money.
When returning funds, each sender participating in the transfer of money has the right to reimbursement of expenses related to such transfer of money and actually incurred as a result of the return of funds, at the expense of the funds of the participant in the transfer of money (including the intermediary bank) who made the erroneous instruction or unauthorized payment and/or transfer of money.
The procedure and time limits for the return of 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

Paragraph 1 amended in accordance with Law of RK dated 02.07.18 No. 168-VI (see old version); Law of RK dated 03.07.20 No. 359-VI (see old version); Law of RK dated 16.01.26 No. 259-VIII (enters into force on March 19, 2026) (see old version)

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 money made in favor of a beneficiary different from that specified in the instruction, or for an amount different from that specified in the instruction, participants in the payment and/or transfer of money bear responsibility on the grounds, in the manner and in the sizes provided for by the agreement between them and the Code of the Republic of Kazakhstan on Administrative Offenses.

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

For execution of an instruction for a payment and/or transfer of money in cases where this Law provides for a refusal, banks and organizations carrying out certain types of banking operations bear responsibility on the grounds, in the manner and in the sizes provided for by the Code of the Republic of Kazakhstan on Administrative Offenses.

For violation of the order of withdrawal of funds from a client's bank account established by the Civil Code of the Republic of Kazakhstan, banks and organizations carrying out certain types of banking operations bear responsibility on the grounds, in the manner and in the sizes provided for by the Code of the Republic of Kazakhstan on Administrative Offenses.

For failure to comply with the requirements established by this Law when providing payment services through payment agents and/or payment sub-agents, banks, organizations carrying out certain types of banking operations, and payment organizations bear responsibility on the grounds, in the manner and in the 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 amount of accepted obligations, as well as for issuing electronic money in an amount exceeding three monthly calculation indicators without identification of the owner of the electronic money, as well as for allowing the use of electronic money in the electronic money system when carrying out operations in an amount that exceeds the established limits on the maximum amount of one operation, 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 the grounds, in the manner and in the sizes provided for by the Code of the Republic of Kazakhstan on Administrative Offenses.

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

For refusal to accept payments and/or transfers of money 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 carrying out payments using payment cards, individual entrepreneurs and legal entities specified in paragraph 11 of Article 25 of this Law bear responsibility on the grounds, in the manner and in the 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 payments and/or transfers of money, functioning of the payment services market within the established time limits, as well as for repeated (two or more times within twelve consecutive calendar months) violation of the limit of payments and transfers of money on correspondent accounts of banks and organizations carrying out certain types of banking operations, or for compiling reporting that led to distortion of information on the fulfillment of the specified limit, banks and organizations carrying out certain types of banking operations bear responsibility in the manner and in the sizes provided for by the Code of the Republic of Kazakhstan on Administrative Offenses.

If the instruction is not executed, the payment service provider (including the intermediary bank) who did not execute or improperly executed the instruction received from the previous sender bears responsibility to him. The sender of money does not bear responsibility for the payment under a civil-law transaction to the beneficiary if the transfer of money is not executed due to the fault of the beneficiary's bank.
If the violation of the rules for carrying out transfers of money is associated with the unlawful use by a participant in the payment and/or transfer of money of another person's money, such participant pays a penalty provided for by the civil legislation of the Republic of Kazakhstan to the person whose money they unlawfully used.
The payment service provider does not bear responsibility if, when carrying out the payment, the order of protective actions was not observed by them, but at the same time the money was received by the beneficiary:

specified in the instruction;
within a period acceptable to the beneficiary;
in the amount specified in the instruction;
if no damage (losses) was caused to either the sender of money or the beneficiary.

Paragraph 5 amended in accordance with Law of RK dated 21.01.19 No. 217-VI (enters into force on April 24, 2019) (see old version)

For violation or non-execution of acts on temporary restrictions on the disposal of property, decisions and/or orders of authorized state bodies or officials on suspending expense operations on the bank account, acts of imposing a seizure on funds in the bank account, as well as judicial acts of the court of the Republic of Kazakhstan on collection of money, rulings of the judicial executor on demanding information about bank account numbers and the presence of funds in them, information about the nature and cost of property located in banks, organizations carrying out certain types of banking operations, as well as in insurance organizations, and imposing a seizure on them, banks or organizations carrying out certain types of banking operations bear responsibility on the grounds, in the manner and in the sizes provided for by the Code of the Republic of Kazakhstan on Administrative Offenses.

Article supplemented with paragraph 6 in accordance with Law of RK dated 16.01.26 No. 259-VIII (enters into force on March 19, 2026)

The bank, organization carrying out certain types of banking operations, payment organization no later than ten working days from the date of receipt of the judicial act entering into legal force refund the money to the client recognized as a victim in a criminal case on the fact of fraud, as a result of carrying out a payment and/or transfer of money in violation of the requirements for conducting identification of the sender of money 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 entry into force of this Law for the recovery of overdue debt on a loan in accordance with a concluded loan agreement, a credit line opening agreement or any other document confirming the fact of a borrowing operation or the 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 the field of 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.

Paragraph 3 amended in accordance with Law of RK dated 13.05.20 No. 325-VI (enters into force on November 15, 2020) (see old version)

The requirements provided for in paragraph 5 and part one of paragraph 6 of Article 5 of this Law apply to relations arising before the entry into force of this Law.
Was in force until June 1, 2017 (see old version)

Article 60. Procedure for Entry into Force of this Law

This Law enters into force after the expiration of thirty calendar days from the day of its first official publication, except for:

Sub-paragraph 1 presented in the edition of Law of RK dated 22.12.16 No. 29-VI (enters into force on January 1, 2017) (see old version)

paragraph 6 of Article 32, which enters into force on January 1, 2017;
paragraphs 8, 9 and 10 of Article 13, Articles 47 and 48, which enter into force on June 1, 2017;

Paragraph supplemented with sub-paragraph 2-1 in accordance with Law of RK dated 22.12.16 No. 29-VI (enters into force on January 1, 2017)

2-1) the third paragraph of part two of paragraph 6 of Article 35, which enters into force on July 1, 2017;

Sub-paragraph 3 presented in the edition of Law of RK dated 20.06.17 No. 76-VI (see old version)

the fourth paragraph of part two of paragraph 6 of Article 35, which enters into force on January 1, 2020;
paragraph 3 of Article 2, which enters into force on December 16, 2020.

Part one of paragraph 2 and part one of paragraph 5 of Article 46 and paragraph 4 of Article 59 are in force until June 1, 2017.
Recognize as having lost force the Law of the Republic of Kazakhstan dated June 29, 1998 "On Payments and Transfers of Money" (Vedomosti Parlamenta Respubliki Kazakhstan, 1998, No. 11-12, art. 177; No. 24, art. 445; 2000, No. 3-4, art. 66; 2003, No. 4, art. 25; No. 10, art. 49, 51; No. 15, art. 138; 2004, No. 23, art. 140; 2005, No. 14, art. 55; 2006, No. 11, art. 55; 2008, No. 23, art. 114; 2009, No. 17, art. 81; No. 19, art. 88; 2010, No. 7, art. 28; 2011, No. 13, art. 116; 2012, No. 2, art. 14; No. 10, art. 77; No. 13, art. 91; 2013, No. 10-11, art. 56; 2014, No. 1, art. 9; No. 11, art. 61; No. 19-I, 19-II, art. 96; No. 21, art. 122; 2015, No. 15, art. 78; No. 20-IV, art. 113; No. 22-I, art. 143; No. 22-VI, art. 159).

President of the Republic of Kazakhstan
N. NAZARBAYEV
Astana, Akorda, July 26, 2016
No. 11-VI ZRK

Law of the Republic of Kazakhstan No. 11-VI of July 26, 2016 'On Payments and Payment Systems'

Lineage: In force

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