Control:
19.05.2019

«REPUBLIC OF KAZAKHSTAN
ҰЛТТЫҚ БАНКІ»
РЕСПУБЛИКАЛЫҚ
МЕМЛЕКЕТТІК МЕКЕМЕСІ
РЕСПУБЛИКАНСКОЕ
STATE INSTITUTION
«НАЦИОНАЛЬНЫЙ БАНК
РЕСПУБЛИКИ КАЗАХСТАН»

ДИРЕКТОРЛАР КЕҢЕСІНІҢ
ҚАУЛЫСЫ
ПОСТАНОВЛЕНИЕ
СОВЕТА ДИРЕКТОРОВ

31 May 2017
Almaty city
No. 83 city of Almaty

On approval of the Model Accession Agreements for servicing a correspondent account in the national currency, in the national currency with users of the interbank money transfer system and in foreign currency with the National Bank

(With amendments and additions: 1) Resolution of the Board of Directors No. 35 dated 04.05.2019))

In order to implement the Law of the Republic of Kazakhstan dated 26 July 2016 «On Payments and Payment Systems» and the Resolution of the Board of the National Bank of the Republic of Kazakhstan dated 31 August 2016 No. 209 «On approval of the Rules for establishing correspondent relations between the National Bank of the Republic of Kazakhstan and banks, as well as organizations carrying out certain types of banking operations», the Board of Directors of the National Bank of the Republic of Kazakhstan RESOLVES:

1. To approve:

1) The Model Accession Agreement for servicing a correspondent account in the national currency (Appendix 1);

2) The Model Accession Agreement for servicing a correspondent account in the national currency with users of the interbank money transfer system (Appendix 2);

3) The Model Accession Agreement for servicing a correspondent account in foreign currency (Appendix 3).

1-1. The Model Agreement provided for in paragraph 1 of this resolution does not apply to central (national) banks.

2. The Monetary Operations Accounting Department (Baimukanov Zh.S.) shall post this resolution on the official Internet resource of the National Bank of the Republic of Kazakhstan.

3. Control over the execution of this resolution shall be assigned to the Deputy Chairman of the National Bank of the Republic of Kazakhstan Galiyeva D.T.

4. This resolution1 shall enter into force upon the expiration of ten calendar days after the day of its posting on the official Internet resource of the National Bank of the Republic of Kazakhstan.

Chairman of the National Bank
D. Akishev

True copy:
Chief Specialist-Secretary of the Board of the NBK A. Duplenko

[1] On approval of the Model Accession Agreements for servicing a correspondent account in the national currency, in the national currency with users of the interbank money transfer system and in foreign currency with the National Bank

Appendix 1
to the resolution of the Board of Directors of the National Bank of the Republic of Kazakhstan dated 31 May 2017 No. 83

ACCESSION AGREEMENT for servicing a correspondent account in the national currency

Almaty city

This Accession Agreement for servicing a correspondent account in the national currency (hereinafter – the Agreement) regulates relations between the Republican State Institution «National Bank of the Republic of Kazakhstan», hereinafter referred to as the «National Bank» and the Client (a legal entity that has submitted an application for accession to the Agreement), hereinafter jointly referred to as the «Parties» and individually – the «Party», regarding the execution of operations on a correspondent account in the national currency.

1. SUBJECT OF THE AGREEMENT

1.1. The Agreement determines the procedure for opening, maintaining and closing the Client's correspondent account in the national currency, and also establishes the rights, obligations and liability of the Parties when maintaining the Client's correspondent account and is posted on the Internet resource of the National Bank.

1.2. The Client shall send to the National Bank an Application for opening a correspondent account by acceding to the Agreement (hereinafter – the Application) indicating the type of currency, signed by an authorized person of the Client and certified by the Client's seal, in the manner established by the Agreement. The Application, among other things, must contain information about the Client's tax residency. The Application confirms that the Client has familiarized itself with the terms and has accepted the Agreement in full, without any remarks and objections. The Client shall not be entitled to refer to the absence of its signature on the Agreement as evidence that the Agreement was not read/accepted by it, if the National Bank has a copy of the Application signed by the Client in the manner established by the Agreement and the legislation of the Republic of Kazakhstan. By signing the Application, the Client assumes all the terms for opening, maintaining, closing a correspondent account with the National Bank and accedes to the Agreement.

1.3. In the manner and on the terms of the Agreement, the National Bank shall open a correspondent account for the Client (hereinafter – correspondent account), by assigning it an individual identification code (hereinafter – IIC) and shall send the Client a Notification on opening a correspondent account in the national currency (hereinafter – Notification) in accordance with the appendix to the Agreement*.

2. RIGHTS AND OBLIGATIONS OF THE PARTIES

2.1. The National Bank undertakes:

1) to open a correspondent account on the basis of the Agreement, in the manner and within the timeframes provided for by the legislation of the Republic of Kazakhstan*;

2) to accept money received in favor of the Client, on the terms provided for by the Agreement;

3) to ensure the availability of all money received to the correspondent account;

4) to make payments and (or) money transfers within the amount of the balance of money on the correspondent account within the timeframes established by the legislation of the Republic of Kazakhstan, the terms of the Agreement and the Schedule of the operational day of the National Bank (hereinafter - the Schedule), posted on the official Internet resource of the National Bank (www.nationalbank.kz), unless the terms of such instruction establish a later date for its execution;

5) ensure the Client's right to freely dispose of the money held in the correspondent account, within the balance of money in it, except in cases provided for by the legislation of the Republic of Kazakhstan, and also on the terms established by the Agreement;

6) accept and execute instructions sent by the Client to the National Bank, in accordance with the legislation of the Republic of Kazakhstan, as well as the requirements established by the regulatory legal acts of the National Bank, the Agreement and within the time periods provided for by the Schedule;

7) upon receipt of a collection order and a payment request, as well as in the absence or insufficiency of the amount of money in the correspondent account, accept, in cases provided for by the legislation of the Republic of Kazakhstan, execute and store them for the period established by the legislation of the Republic of Kazakhstan;

8) when carrying out operations on the Client's correspondent account, issue a statement on the movement of money within the time periods provided for by the Schedule;

9) accept and execute the Client's instructions for the issuance of the Client's cash through the cash desks of the branches of the National Bank in accordance with the regulatory legal acts of the National Bank and the Schedule**;

10) ensure the confidentiality of information on operations conducted by the Client and the amount of money in the correspondent account, and other information constituting banking and commercial secrets, except in cases provided for by the legislative acts of the Republic of Kazakhstan and the Agreement;

11) no later than the current business day, notify the Client by telephone and/or electronic communication of the impossibility of executing its instructions received within the time period provided for by the Schedule;

12) in the case of independently establishing or receiving written notification from the Client about the erroneous execution of an instruction or an unauthorized payment and (or) transfer of money, refund the amount of money to the Client of the erroneously executed instruction or unauthorized payment and (or) transfer of money in the manner established by the legislation of the Republic of Kazakhstan;

13) in the case of changes to the Schedule, as well as the types and amounts of fees for services provided by the National Bank (hereinafter - Tariffs), posted on the official internet resource of the National Bank (www.nationalbank.kz), notify the Client in writing no later than 10 (ten) business days before the day of their entry into force.

2.2. The Client undertakes:

1) to open a correspondent account, submit to the National Bank the documents provided for by the regulatory legal acts of the National Bank*;

2) conduct all operations for the disposal of its money held in the correspondent account in accordance with the legislation of the Republic of Kazakhstan and the terms of the Agreement;

3) carry out daily control of the correctness of the reflection of its own data with the data of the National Bank on the correspondent account;

4) in the case of establishing the erroneous execution of an instruction, no later than the next operational day from the day of discovery of this fact, notify the National Bank thereof in accordance with the legislation of the Republic of Kazakhstan;

5) submit instructions to the National Bank in accordance with the requirements established by the regulatory legal acts of the National Bank, the Agreement and within the time periods provided for by the Schedule;

6) submit to the National Bank an application for reserving money in the correspondent account for obtaining cash through the cash desks of the branches of the National Bank, in accordance with the Schedule**;

7) in cases provided for by the legislation of the Republic of Kazakhstan on counteracting the legalization (laundering) of proceeds from crime and the financing of terrorism, upon the demand of the National Bank, provide the necessary documents.

2.3. The National Bank has the right:

1) to withdraw money from the correspondent account without the Client's consent, in compliance with the order of priority, on the grounds and in the manner provided for by the legislative acts of the Republic of Kazakhstan, as well as the regulatory legal acts of the National Bank, with sending

to the Client no later than the operational day following the day of withdrawal of money, the relevant documents confirming the lawfulness of the withdrawal;

2) to carry out monthly, no later than the 10th (tenth) day of the month following the reporting month, withdrawal of money without the Client's consent from the correspondent account to reimburse services in accordance with the Tariffs. In the absence of money in the correspondent account, the withdrawal of money may be carried out in compliance with the requirements of the legislation of the Republic of Kazakhstan from any bank accounts of the Client, including from bank accounts in foreign currency using the official rate of the National Bank on the day of the operation;

3) to carry out crediting/withdrawal of money to/from the correspondent account without the Client's consent in the case of surplus/shortage of cash deposited to the cash desk of a branch of the National Bank, identified as a result of their note-by-note recount, in the manner established by the regulatory legal acts of the National Bank**;

4) in the case of erroneous acceptance (crediting) of money to the correspondent account, carry out withdrawal of money without the Client's consent from the correspondent account;

5) within the framework of state financing (lending) contracts (agreements) concluded with the Client, carry out, without its consent, withdrawal of money from its correspondent account on the basis of payment requests issued by the persons specified in the Application***;

6) communicate the Directory of Banks of the Republic of Kazakhstan to users of payment systems of Kazakhstan, indicating in it the Client's bank details, including the correspondent account number;

7) carry out withdrawal of money from the correspondent account on the basis of payment requests issued by the National Bank within the framework of contracts/agreements (including those in which the National Bank acts as a trustee managing clients' assets) concluded with the Client, specified in the Application for consent to write off money from a bank account;****;

8) refuse the Client in execution of the instruction on the grounds provided for by the legislation of the Republic of Kazakhstan and the terms of the Agreement;

9) restrict the Client's disposal of money in the correspondent account and withdraw the Client's money from the correspondent account upon the claims of third parties in the cases and in the manner provided for by the legislation of the Republic of Kazakhstan, as well as on the terms established by the Agreement.

2.4. The Client has the right:

1) independently dispose of the money held in the correspondent account, within the balance of money in it, in the manner established by the legislation of the Republic of Kazakhstan and the Agreement;

2) receive statements on the movement of money in the correspondent account in accordance with the Schedule.

3. SPECIFICS OF MAINTAINING THE CORRESPONDENT ACCOUNT

3.1. Excluded.

3.2. When transmitting instructions and other messages, the Parties agree to use the SWIFT system and the financial automated information transport system of the Republican State Enterprise on the right of economic management "Kazakhstan Center for Interbank Settlements of the National Bank of the Republic of Kazakhstan" (hereinafter – FASTI KCMR) as the main communication channels. In exceptional cases (failure in the operation of the SWIFT, FASTI KCMR systems), interaction is carried out on paper and/or by using a backup communication channel (as agreed by the Parties). The Parties acknowledge that messages transmitted through the SWIFT and FASTI KCMR systems have the force of documents drawn up on paper.

4. LIABILITY OF THE PARTIES

4.1. In the event of non-performance or improper performance of obligations under the Agreement, the guilty Party shall compensate the other Party for the actual damage incurred by it in accordance with the legislation of the Republic of Kazakhstan and the terms of the Agreement.

4.2. Excluded.

4.3. The National Bank shall not be liable for non-execution of the Client's instructions on the correspondent account if the specified payment amount exceeds the amount of money in the correspondent account at the time of execution of the instruction, as well as for non-execution/untimely execution on the grounds provided for by the legislation of the Republic of Kazakhstan.

4.4. For untimely execution of the Client's instructions, the National Bank shall pay a penalty charged on the amount of the untimely executed instruction for all days of delay; the amount of the penalty is calculated based on the size of the official refinancing rate of the National Bank on the date of collection of the penalty, from the amount of the untimely executed instruction for each calendar day of delay.

In the event of payment of the penalty amount for untimely execution of the Client's instructions, the National Bank shall withhold income tax at the source of payment in accordance with the tax legislation of the Republic of Kazakhstan.

4.5. The National Bank shall not be liable for non-execution/untimely execution of the Client's instructions, as well as for damage arising as a result of incorrect execution of the instruction, errors, refusal or delay, through the fault of the Client and/or the beneficiary.

4.6. Responsibility for the accuracy of the details of instructions shall be borne by its submitter, and the National Bank shall not be liable for the execution of information incorrectly specified in them.

4.7. The Parties assume all responsibility for the actions of employees having access to communication channels.

5. FORCE MAJEURE

5.1. In the event of circumstances of insuperable force, which include natural disasters, accidents, fires, mass riots, strikes, military actions, as well as the adoption of normative legal and legal acts of the Republic of Kazakhstan directly or indirectly prohibiting the types of activities specified in the Agreement, preventing the Parties from performing their functions under the Agreement, they shall be released from liability for non-performance of the obligations assumed, if not later than 3 (three) working days from the moment of occurrence of such circumstances and if communication is available, the Party affected by their influence notifies the other Party of what has happened, and also makes every effort to eliminate as soon as possible the consequences of force majeure circumstances.

5.2. The Parties shall not be liable for the termination of the use of electronic communication channels for the transmission of electronic instructions, arising as a result of the action of circumstances of insuperable force significantly affecting the functioning of the electronic payment system, in the form of natural disasters, power outages and damage to communication lines.

5.3. The Party that has become the object of the impact of circumstances of insuperable force specified in paragraph 5.1 of the Agreement is obliged, at the request of the other Party, to provide supporting documents about the events that occurred, as well as any documentation related to the calculation of the volume of damage incurred, certified by authorized bodies.

5.4. The performance by the Parties of obligations under the Agreement is suspended for the duration of the circumstances of insuperable force and resumes immediately after their termination.

5.5. After the termination of the circumstances of insuperable force specified in paragraph 5.1 of the Agreement, the Parties are obliged to continue performing their obligations under the Agreement.

6. PROCEDURE FOR RESOLVING DISPUTES

6.1. In the event of disagreements and disputes in the process of performing the terms of the Agreement, the Parties undertake to take all necessary measures to resolve them out of court.

6.2. If mutual agreement is not reached, all unresolved disputes shall be considered by the courts of the Republic of Kazakhstan in accordance with the legislation of the Republic of Kazakhstan.

7. MISCELLANEOUS TERMS

7.1. The Agreement enters into force on the day the correspondent account is opened and is valid for an indefinite period of time*.

7.2. Termination of the agreement is carried out on the grounds and in the manner provided for by the legislation of the Republic of Kazakhstan.

7.3. The Parties have the right to unilaterally terminate the Agreement, whereby the Party that has expressed a desire to terminate the Agreement is obliged to notify the other Party in writing 30 (thirty) working days before the expected date of termination of the Agreement. In this case, the Parties are obliged to fulfill the obligations previously arisen under the Agreement and reimburse each other for the expenses thereon no later than 5 (five) business days before the date of termination of the Agreement.

An application for closing a correspondent account and an instruction on transferring the balance of money from the correspondent account shall be submitted by the Client to the National Bank no later than 5 (five) business days before the date of termination of the Agreement.

7.4. All changes and additions to the Agreement shall be made by the National Bank by means of written notification of the Client or posting on the Internet resource of the National Bank. At the same time, the Client's signing of additional agreements to the Agreement is not required, and the Client is considered to have acceded to the changes and additions to the Agreement from the moment they are made.

In case of disagreement with the changes and additions made to the Agreement, the Client has the right to demand termination of the agreement by submitting to the National Bank an application for closing the correspondent account and, if any, having reimbursed the expenses.

7.5. In case of a change in the name, location and requisites, as well as the Charter and (or) license for carrying out banking operations and the document with specimen signatures and seal imprint, the Party is obliged to notify the other Party in writing within 10 (ten) business days.

7.6. Upon reorganization of the Parties, all rights and obligations pass to the legal successors of the Parties.

7.7. Issues not regulated by the Agreement shall be resolved in the manner established by the legislation of the Republic of Kazakhstan.

[*] with the exception of Clients with whom correspondent account Agreements were previously concluded.

[**] with the exception of Clients that do not work with cash money.

[***] ***the provisions of the specified clause apply to clients who have concluded loan agreements within the framework of state programs, who in the application for accession to the Agreement indicated the name, BIN of the beneficiary (list of beneficiaries), name and requisites of documents confirming the monetary obligation of the sender of money to the beneficiary (beneficiaries), on the basis of which a payment claim is presented.

[****] in the Application for consent to write off money from a bank account, indicate the name and BIN of the National Bank, as well as the name and requisites of agreements (contracts) confirming the Client's monetary obligation to the National Bank.

Annex
to the Agreement of accession

for servicing a correspondent account in national currency

NOTIFICATION of opening a correspondent account in national currency

The notification is an integral part of the Agreement

The National Bank notifies "___________________________" (Client) of the opening of a correspondent account in national currency with the assignment of an individual identification code (IIC)*.

IIC	BIC	Account currency

Authorized person

---

(signature)
(Surname and initials)

---

(date)

Annex 2
to the resolution of the Board of Directors of the National Bank of the Republic of Kazakhstan dated 31 May 2017 No. 83

AGREEMENT OF ACCESSION for servicing a correspondent account in national currency with users of the interbank money transfer system

Almaty city

This Agreement of accession for servicing a correspondent account in national currency with users of the interbank money transfer system (hereinafter – the Agreement) regulates relations between the Republican state institution "National Bank of the Republic of Kazakhstan", hereinafter referred to as the "National Bank" and the Client (a legal entity that has submitted an application for accession to the Agreement), hereinafter jointly referred to as the "Parties" and individually – the "Party", regarding the carrying out of operations on a correspondent account in national currency.

1. SUBJECT OF THE AGREEMENT

1.1. The Agreement determines the procedure for opening, maintaining and closing the Client's correspondent account in national currency, and also establishes the rights, obligations and liability of the Parties when maintaining the Client's correspondent account and is posted on the Internet resource of the National Bank.

1.2. The Client sends to the National Bank an Application for opening a correspondent account by acceding to the Agreement (hereinafter – the Application) indicating the type of currency, signed by an authorized person of the Client and certified by the Client's seal, in the manner established by the Agreement. The Application, among other things, must contain information about the Client's tax residency. The Application confirms that the Client has familiarized itself with the terms and accepted the Agreement in full, without any remarks and objections. The Client has no right to refer to the absence of its signature on the Agreement as proof that the Agreement was not read/accepted by it, if the National Bank has a copy of the Application signed by the Client in the manner established by the Agreement and the legislation of the Republic of Kazakhstan. By signing the Application, the Client assumes all the terms for opening, maintaining, closing a correspondent account with the National Bank and accedes to the Agreement.

1.3. In the manner and on the terms of the Agreement, the National Bank opens a correspondent account for the Client (hereinafter – correspondent account), by assigning it an individual identification code (hereinafter – IIC) and sends the Client a Notification of opening a correspondent account in national currency (hereinafter – Notification) in accordance with the annex to the Agreement*.

2. RIGHTS AND OBLIGATIONS OF THE PARTIES

2.1. The National Bank undertakes:

1) to open a correspondent account on the basis of the Agreement, in the manner and within the time limits provided for by the legislation of the Republic of Kazakhstan*;

2) to accept money received in favor of the Client, on the terms provided for by the Agreement;

3) to ensure the availability of all money received in the correspondent account;

4) to carry out payments and (or) transfers of money within the amount of the balance of money in the correspondent account within the time limits established by the legislation of the Republic of Kazakhstan, the terms of the Agreement and the Operating Day Schedule of the National Bank (hereinafter - the Schedule), posted on the official internet resource of the National Bank (www.nationalbank.kz), unless the terms of such instruction establish a later time limit for its execution;

5) ensure the Client's right to freely dispose of the money held in the correspondent account, within the balance of money therein, except in cases provided for by the legislation of the Republic of Kazakhstan, and also on the terms established by the Agreement;

6) accept and execute instructions sent by the Client to the National Bank, in accordance with the legislation of the Republic of Kazakhstan, as well as the requirements established by the regulatory legal acts of the National Bank, the Agreement and within the timeframes provided by the Schedule;

7) at the beginning of the operating day, transfer money from the correspondent account to the account of the interbank money transfer system (hereinafter – the System) in the National Bank on the basis of an instruction or a standing instruction submitted by the Client, which may be expressed as a total or percentage ratio of the amount of the balance of money in the correspondent account and is valid until a written instruction from the Client to revoke it;

8) on the Client's instruction, transfer money from the System account in the National Bank (hereinafter – the System account) to the correspondent account, or from the correspondent account to the System account during the operating day on the basis of an instruction or on the basis of a standing instruction drawn up in accordance with the requirements established by the regulatory legal acts of the National Bank;

9) upon receipt of a collection order and a payment request, as well as in the absence or insufficiency of the amount of money in the correspondent account, accept, in cases provided for by the legislation of the Republic of Kazakhstan, execute and store them for the period established by the legislation of the Republic of Kazakhstan;

10) when carrying out operations on the Client's correspondent account, issue a statement on the movement of money within the timeframes provided by the Schedule;

11) accept and execute the Client's instructions for the issuance of the Client's cash through the cash desks of branches of the National Bank in accordance with the regulatory legal acts of the National Bank and the Schedule**;

12) ensure the confidentiality of information on operations conducted by the Client and the amount of money in the correspondent account, and other information constituting banking and commercial secrets, except in cases provided for by legislative acts of the Republic of Kazakhstan and the Agreement;

13) no later than the current working day, notify the Client by telephone and/or electronic communication of the impossibility of executing its instructions received within the timeframe provided by the Schedule;

14) in the case of independently establishing or receiving written notification from the Client about the erroneous execution of an instruction or an unauthorized payment and (or) transfer of money, refund the amount of money to the Client of the erroneously executed instruction or unauthorized payment and (or) transfer of money in the manner established by the legislation of the Republic of Kazakhstan;

15) in the case of changes to the Schedule, as well as the types and amounts of fees for services provided by the National Bank (hereinafter – Tariffs), posted on the official internet resource of the National Bank (www.nationalbank.kz), notify the Client in writing no later than 10 (ten) working days before the day of their entry into force.

2.2. The Client undertakes:

1) to open a correspondent account, submit to the National Bank the documents provided for by the regulatory legal acts of the National Bank*;

2) conduct all operations for the disposal of its money held in the correspondent account in accordance with the legislation of the Republic of Kazakhstan and the terms of the Agreement;

3) carry out daily control of the correctness of the reflection of its own data with the data of the National Bank on the correspondent account;

4) in the case of establishing the erroneous execution of an instruction, no later than the next operating day from the day of discovery of this fact, notify the National Bank thereof in accordance with the legislation of the Republic of Kazakhstan;

5) submit instructions to the National Bank in accordance with the requirements established by the regulatory legal acts of the National Bank, the Agreement and within the timeframes provided by the Schedule;

6) submit to the National Bank an application for reserving money in the correspondent account for receiving cash through the cash desks of branches of the National Bank, in accordance with the Schedule**;

7) in cases provided for by the legislation of the Republic of Kazakhstan on countering the legalization (laundering) of proceeds from crime and the financing of terrorism, upon the demand of the National Bank, provide the necessary documents.

2.3. The National Bank has the right:

1) to withdraw money from the correspondent account without the Client's consent, in compliance with the order of priority, on the grounds and in the manner provided for by legislative acts of the Republic of Kazakhstan, as well as regulatory legal acts of the National Bank, with the sending to the Client, no later than the operating day following the day of withdrawal of money, of the relevant documents confirming the lawfulness of the withdrawal;

2) to carry out monthly, no later than the 10th (tenth) day of the month following the reporting month, withdrawal of money without the Client's consent from the correspondent account to reimburse services in accordance with the Tariffs. In the absence of money in the correspondent account, the withdrawal of money may be carried out in compliance with the requirements of the legislation of the Republic of Kazakhstan from any bank accounts of the Client, including from bank accounts in foreign currency using the official exchange rate of the National Bank on the day of the operation;

3) to carry out crediting/withdrawal of money to/from the correspondent account without the Client's consent in the case of a surplus/shortage of cash deposited to the cash desk of a branch of the National Bank, identified as a result of their note-by-note recount, in the manner established by the regulatory legal acts of the National Bank**;

4) in the case of erroneous acceptance (crediting) of money to the correspondent account, carry out withdrawal of money without the Client's consent from the correspondent account;

5) if the Client's money in the System account is insufficient for making a money transfer based on clearing results (if the Client is a clearing participant), when a queue of the Client's instructions forms in the System, to withdraw money from the correspondent account without the Client's consent for the purpose of transferring it to the System account;

6) if the money in the correspondent account is insufficient to fulfill the Client's obligations, to return erroneously credited amounts of money, to transfer money from the System account to the correspondent account;

7) within the framework of state financing (lending) contracts (agreements) concluded with the Client, to withdraw without his consent

money from his correspondent account on the basis of payment claims submitted by the persons specified in the Application***;

8) to provide the Directory of Banks of the Republic of Kazakhstan to users of payment systems of Kazakhstan, indicating therein the Client's banking details, including the correspondent account number;

9) to withdraw money from the correspondent account on the basis of payment claims submitted by the National Bank within the framework of contracts/agreements (including those in which the National Bank acts as trustee of clients' assets) concluded with the Client, specified in the Application for consent to debit money from the bank account;****;

10) to refuse the Client in execution of an instruction on the grounds provided for by the legislation of the Republic of Kazakhstan and the terms of the Contract;

11) to restrict the Client's disposal of money in the correspondent account and to withdraw the Client's money from the correspondent account upon claims of third parties in the cases and manner provided for by the legislation of the Republic of Kazakhstan, as well as on the terms established by the Contract.

2.4. The Client has the right:

1) to independently dispose of the money in the correspondent account, within the balance of money therein, in the manner established by the legislation of the Republic of Kazakhstan and the Contract;

2) to receive statements on the movement of money in the correspondent account in accordance with the Schedule.

3. SPECIFICS OF MAINTAINING THE CORRESPONDENT ACCOUNT

3.1. Excluded.

3.2. When transmitting instructions and other messages, the Parties agree to use the SWIFT system and the financial automated information transport system of the Republican State Enterprise on the right of economic management "Kazakhstan Center for Interbank Settlements of the National Bank of the Republic of Kazakhstan" (hereinafter – FASTI KCMR) as the main communication channels. In exceptional cases (failure in the operation of the SWIFT, FASTI KCMR systems), interaction is carried out on paper and/or by using a backup communication channel (as agreed by the Parties). The Parties acknowledge that messages transmitted through the SWIFT and FASTI KCMR systems have the force of documents drawn up on paper.

4. LIABILITY OF THE PARTIES

4.1. In case of non-performance or improper performance of obligations under the Contract, the guilty Party shall compensate the other Party for the actual damage incurred by it in accordance with the legislation of the Republic of Kazakhstan and the terms of the Contract.

4.2. Excluded.

4.3. The National Bank shall not be liable for non-execution of the Client's instructions on the correspondent account if the specified payment amount exceeds the amount of money in the correspondent account at the time of execution of the instruction, as well as for non-execution/untimely execution on the grounds provided for by the legislation of the Republic of Kazakhstan.

4.4. For untimely execution of the Client's instructions, the National Bank shall pay a penalty accrued on the amount of the untimely executed instruction for all days of delay; the amount of the penalty is calculated based on the size of the official refinancing rate of the National Bank on the date of collection of the penalty, from the amount of the untimely executed instruction for each calendar day of delay.

In case of payment of the penalty for untimely execution of the Client's instructions, the National Bank shall withhold income tax at the source of payment in accordance with the tax legislation of the Republic of Kazakhstan.

4.5. The National Bank shall not be liable for instructions carried out by the Client through the System, as well as for errors in the transmission of instructions that occurred through the fault of the Client.

4.6. The National Bank shall not be liable for non-execution/untimely execution of the Client's instructions, as well as for damage arising as a result of incorrect execution of an instruction, errors, refusal or delay, through the fault of the Client and/or the beneficiary.

4.7. Responsibility for the accuracy of the details of instructions shall be borne by its submitter, and the National Bank shall not be liable for the execution of information incorrectly specified therein.

4.8. The Parties assume all responsibility for the actions of employees having access to communication channels.

5. FORCE MAJEURE

5.1. In case of occurrence of force majeure circumstances, which include natural disasters, accidents, fires, mass riots, strikes, military actions, as well as the adoption of normative legal and legal acts of the Republic of Kazakhstan directly or indirectly prohibiting the types of activities specified in the Contract, preventing the Parties from performing their functions under the Contract, they shall be released from liability for non-performance of their assumed obligations, if not later than 3 (three) working days from the moment of occurrence of such circumstances and if communication is available, the Party affected by their influence notifies the other Party of what has happened, and also makes every effort to promptly eliminate the consequences of force majeure circumstances.

5.2. The Parties shall not be liable for the termination of the use of electronic communication channels for the transmission of electronic instructions, arising as a result of force majeure circumstances significantly affecting the functioning of the electronic payment system, in the form of natural disasters, power outages and damage to communication lines.

5.3. The Party that has become subject to the force majeure circumstances specified in paragraph 5.1 of the Contract shall, at the request of the other Party, provide supporting documents on the events that occurred, as well as any documentation related to the calculation of the amount of damage incurred, certified by authorized bodies.

5.4. The performance by the Parties of their obligations under the Contract is suspended for the duration of the force majeure circumstances and resumes immediately after their termination.

5.5. After the termination of the force majeure circumstances specified in paragraph 5.1 of the Contract, the Parties shall continue to perform their obligations under the Contract.

6. PROCEDURE FOR RESOLVING DISPUTES

6.1. In the event of disagreements and disputes arising in the process of performing the terms of the Contract, the Parties undertake to take all necessary measures to resolve them out of court.

6.2. If mutual agreement is not reached, all unresolved disputes shall be considered by the courts of the Republic of Kazakhstan in accordance with the legislation of the Republic of Kazakhstan.

7. MISCELLANEOUS

7.1. The Contract enters into force on the day the correspondent account is opened and is valid for an indefinite period of time*.

7.1.1. Paragraphs 4.1, 4.4, 6.2, 7.4, 7.7 apply to Islamic banks in accordance with the principles of Islamic finance.

7.2. Termination of the contract is carried out on the grounds and in the procedure provided for by the legislation of the Republic of Kazakhstan.

7.3. The Parties have the right to unilaterally terminate the Contract, and the Party that has expressed a desire to terminate the Contract shall notify the other Party in writing 30 (thirty) business days before the expected date of termination of the Contract. In this case, the Parties shall fulfill the obligations previously arising under the Contract and reimburse each other for expenses under it no later than 5 (five) business days before the date of termination of the Contract.

An application to close the correspondent account and an instruction on transferring the balance of money from the correspondent account shall be submitted by the Client to the National Bank no later than 5 (five) business days before the date of termination of the Contract.

7.4. All amendments and additions to the Contract are made by the National Bank by written notification to the Client or by posting on the Internet resource of the National Bank. At the same time, the Client's signing of additional agreements to the Contract is not required, and the Client is considered to have acceded to the amendments and additions to the Contract from the moment they are made.

In case of disagreement with the amendments and additions made to the Contract, the Client has the right to demand termination of the contract by submitting to the National Bank an application to close the correspondent account and, if any, reimbursing expenses.

7.5. In the event of a change in the name, location and details, as well as the Charter and (or) license for carrying out banking operations and the document with specimen signatures and seal impression, the Party shall notify the other Party in writing within 10 (ten) business days.

7.6. Upon reorganization of the Parties, all rights and obligations pass to the legal successors of the Parties.

7.7. Matters not regulated by the Contract shall be resolved in the procedure established by the legislation of the Republic of Kazakhstan.

[*] except for Clients with whom correspondent account Contracts were previously concluded.

[**] except for Clients that do not work with cash money.

[***] ***the provisions of the specified paragraph apply to clients that have concluded loan agreements within the framework of state programs and that in the application for accession to the Contract indicated the name, BIN of the beneficiary (list

of beneficiaries), the name and details of documents confirming the monetary obligation of the sender of money to the beneficiary (beneficiaries), on the basis of which a payment claim is presented.

**** in the Application for consent to debit money from the bank account, indicate the name and BIN of the National Bank, as well as the name and details of contracts (agreements) confirming the Client's monetary obligation to the National Bank.

Appendix
to the Contract of accession for servicing a correspondent account in national currency with users of the interbank money transfer system

NOTIFICATION of opening a correspondent account in national currency

The notification is an integral part of the Contract

The National Bank notifies "___________________________" (Client) of the opening of a correspondent account in national currency with assignment of an individual identification code (IIC)*.

IIC	BIC	Account currency

Authorized person

---

(signature)
(Surname and initials)

---

(date)

Appendix 3
to the resolution of the Board of Directors of the National Bank of the Republic of Kazakhstan dated 31 May 2017 No. 83

CONTRACT OF ACCESSION for servicing a correspondent account in foreign currency

Almaty

This Contract of accession for servicing a correspondent account in foreign currency (hereinafter – the Contract) regulates relations between the Republican state institution "National Bank of the Republic of Kazakhstan", hereinafter referred to as the "National Bank", and the Client (a legal entity that has submitted an application for accession to the Contract), hereinafter jointly referred to as the "Parties" and separately – the "Party", regarding the carrying out of operations on a correspondent account in foreign currency.

1. SUBJECT OF THE CONTRACT

1.1. The Contract determines the procedure for opening, maintaining and closing the Client's correspondent account in foreign currency, and also establishes the rights, obligations and liability of the Parties when maintaining the Client's correspondent account and is posted on the Internet resource of the National Bank.

1.2. The Client sends to the National Bank an Application for opening a correspondent account by accession to the Contract (hereinafter – the Application) indicating the type of currency, signed by an authorized person of the Client and certified by the Client's seal, in the procedure established by the Contract. The Application, among other things, must contain information on the Client's tax residency. The Application confirms that the Client has reviewed the terms and accepted the Agreement in full, without any remarks or objections. The Client shall not be entitled to refer to the absence of his signature on the Agreement as evidence that the Agreement was not read/accepted by him, if the National Bank has a copy of the Application signed by the Client in the manner established by the Agreement and the legislation of the Republic of Kazakhstan. By signing the Application, the Client assumes all terms for opening, maintaining, and closing a correspondent account with the National Bank and accedes to the Agreement.

1.3. In the manner and on the terms of the Agreement, the National Bank opens a correspondent account for the Client (hereinafter – correspondent account), by assigning it an individual identification code (hereinafter – IIC) and sends the Client a Notice of opening a correspondent account in foreign currency (hereinafter – Notice) in accordance with the annex to the Agreement*.

2. RIGHTS AND OBLIGATIONS OF THE PARTIES

2.1. The National Bank undertakes:

1) to open a correspondent account on the basis of the Agreement, in the manner and within the timeframes provided for by the legislation of the Republic of Kazakhstan*;

2) to accept money received in favor of the Client, on the terms provided for by the Agreement;

3) to ensure the availability of all money received into the correspondent account;

4) to make payments and (or) transfers of money within the amount of the balance of money in the correspondent account within the timeframes established by the legislation of the Republic of Kazakhstan, the terms of the Agreement and the Operating Day Schedule of the National Bank (hereinafter – Schedule), posted on the official internet resource of the National Bank (www.nationalbank.kz), unless the terms of such instruction establish a later deadline for its execution;

5) to ensure the Client's right to freely dispose of the money in the correspondent account, within the balance of money therein, except for cases provided for by the legislation of the Republic of Kazakhstan, and also on the terms established by the Agreement;

6) to accept and execute instructions sent by the Client to the National Bank, in accordance with the legislation of the Republic of Kazakhstan, as well as the requirements established by the regulatory legal acts of the National Bank, the Agreement and within the timeframes provided for by the Schedule;

7) upon receipt of a collection order and a payment request, as well as in the absence or insufficiency of the amount of money in the correspondent account, to accept, in cases provided for by the legislation of the Republic of Kazakhstan, execute and store them for the period established by the legislation of the Republic of Kazakhstan;

8) when carrying out operations on the Client's correspondent account, to issue a statement on the movement of money within the timeframes provided for by the Schedule;

9) to ensure confidentiality of information on operations conducted by the Client and the amount of money in the correspondent account, and other information constituting banking and commercial secrets, except for cases provided for by legislative acts of the Republic of Kazakhstan and the Agreement;

10) no later than the current business day, to notify the Client via telephone and/or electronic communication about the impossibility of executing his instructions received within the timeframe provided for by the Schedule;

11) in case of independently establishing or receiving written notification from the Client about erroneous execution of an instruction or unauthorized payment and (or) transfer of money, to return the amount of money of the Client of the erroneously executed instruction or unauthorized payment and (or) transfer of money in the manner established by the legislation of the Republic of Kazakhstan;

12) in case of changes to the Schedule, as well as the types and amounts of fees for services provided by the National Bank (hereinafter – Tariffs), posted on the official internet resource of the National Bank (www.nationalbank.kz), to notify the Client in writing no later than 10 (ten) business days before the day of their entry into force.

2.2. The Client undertakes:

1) to open a correspondent account, to submit to the National Bank the documents provided for by the regulatory legal acts of the National Bank*;

2) to conduct all operations for the disposal of his money in the correspondent account in accordance with the legislation of the Republic of Kazakhstan and the terms of the Agreement;

3) to carry out daily control of the correctness of reflection of own data with the data of the National Bank on the correspondent account;

4) in case of establishing erroneous execution of an instruction, no later than the next business day from the day of discovery of this fact, to notify the National Bank thereof in accordance with the legislation of the Republic of Kazakhstan;

5) to submit instructions to the National Bank in accordance with the requirements established by the regulatory legal acts of the National Bank, the Agreement and within the timeframes provided for by the Schedule;

6) when carrying out payments and transfers of money in US dollars on the correspondent account, for which the beneficiary's bank is located outside the territory of the USA, to indicate in the instruction the intermediary bank located in the territory of the USA;

7) in cases provided for by the legislation of the Republic of Kazakhstan on countering the legalization (laundering) of proceeds from crime and the financing of terrorism, upon the demand of the National Bank, to provide the necessary documents.

2.3. The National Bank has the right:

1) to withdraw money from the correspondent account without the Client's consent, in compliance with the order of priority, on the grounds and in the manner provided for by legislative acts of the Republic of Kazakhstan, as well as regulatory legal acts of the National Bank, with sending to the Client no later than the business day following the day of withdrawal of money, the relevant documents confirming the lawfulness of the withdrawal;

2) to carry out monthly, no later than the 10th (tenth) day of the month following the reporting month, withdrawal of money without the Client's consent from the correspondent account to reimburse services in accordance with the Tariffs. In the event of absence of money in the correspondent account, withdrawal of money may be made in compliance with the requirements of the legislation of the Republic of Kazakhstan from any bank accounts of the Client using the official rate of the National Bank on the day of the transaction;

3) in the event of erroneous acceptance (crediting) of money to the correspondent account, withdraw money without the Client's consent from the correspondent account;

4) withdraw money from the correspondent account on the basis of payment claims issued by the National Bank within the framework of contracts/agreements (including those in which the National Bank acts as a trustee managing clients' assets) concluded with the Client, specified in the Application for consent to debit money from a bank account;****;

5) refuse the Client in execution of an instruction on the grounds provided for by the legislation of the Republic of Kazakhstan and the terms of the Agreement;

6) restrict the Client's disposal of money in the correspondent account and withdraw the Client's money from the correspondent account upon claims of third parties in the cases and manner provided for by the legislation of the Republic of Kazakhstan, as well as on the terms established by the Agreement;

7) establish a commission (negative interest rate) in accordance with the Tariffs on the amount of the daily credit balance on the correspondent account at the end of the operating day and notify of the amount of the commission and the date of its introduction.

2.4. The Client has the right:

1) independently dispose of the money held in the correspondent account, within the balance of money on it, in the manner established by the legislation of the Republic of Kazakhstan and the Agreement;

2) give the National Bank an instruction to withdraw money, stipulated in subparagraph 2) of paragraph 2.3 of the Agreement, from other bank accounts opened with the National Bank;

3) receive statements on the movement of money from the correspondent account in accordance with the Schedule.

3. SPECIFICS OF MAINTAINING THE CORRESPONDENT ACCOUNT

3.1. Excluded.

3.2. When transmitting instructions and other messages, the Parties agree to use the SWIFT system as the main communication channel. In exceptional cases (failure of the SWIFT system), interaction is carried out on paper and/or by using a backup communication channel (as agreed by the Parties). The Parties acknowledge that messages transmitted through the SWIFT system have the force of documents drawn up on paper.

3.3. The following are carried out on the correspondent account:

• interbank payments and (or) money transfers;

• payments and (or) money transfers of legal entities serviced by the Client to their bank accounts (from their bank accounts) with the National Bank;

• payments and (or) money transfers where one of the parties to the payment is a state organization.

Upon receipt of an instruction to transfer money in favor of the Client in a currency in which the Client does not have a correspondent account, credit the amount to the Client's correspondent account in tenge, calculated using the official rate established by the National Bank.

4. LIABILITY OF THE PARTIES

4.1. In the event of non-performance or improper performance of obligations under the Agreement, the guilty Party shall compensate the other Party for the actual damage incurred by it in accordance with the legislation of the Republic of Kazakhstan and the terms of the Agreement.

4.2. Excluded.

4.3. The National Bank is not liable for non-execution of the Client's instructions on the correspondent account if the specified payment amount exceeds the amount of money in the correspondent account at the time of execution of the instruction, as well as for non-execution/untimely execution on the grounds provided for by the legislation of the Republic of Kazakhstan.

4.4. For untimely execution of the Client's instructions, the National Bank pays a penalty accrued on the amount of the untimely executed instruction for all days of delay; the amount of the penalty is calculated based on the size of the official refinancing rate of the National Bank on the date of collection of the penalty, from the amount of the untimely executed instruction for each calendar day of delay.

In the event of payment of the penalty for untimely execution of the Client's instructions, the National Bank withholds income tax at the source of payment in accordance with the tax legislation of the Republic of Kazakhstan.

4.5. The National Bank is not liable for non-execution/untimely execution of the Client's instructions, as well as for damage arising as a result of incorrect execution of the instruction, errors, refusal or delay, through the fault of the Client and/or the beneficiary.

4.6. Responsibility for the accuracy of the details of instructions lies with its submitter, and the National Bank is not liable for the execution of information incorrectly specified therein.

4.7. The Parties assume full responsibility for the actions of employees having access to communication channels.

5. FORCE MAJEURE

5.1. In the event of occurrence of force majeure circumstances, which include natural disasters, accidents, fires, mass riots, strikes, military actions, as well as the adoption of normative legal and legal acts of the Republic of Kazakhstan directly or indirectly prohibiting the types of activities specified in the Agreement, preventing the Parties from performing their functions under the Agreement, they are released from liability for non-performance of the obligations assumed, if no later than 3 (three) working days from the moment of occurrence of such circumstances and if communication is available, the Party affected by their influence notifies the other Party of what has happened, and also makes every effort to promptly eliminate the consequences of force majeure circumstances.

5.2. The Parties are not liable for the termination of the use of electronic communication channels for the transmission of electronic instructions, arising as a result of force majeure circumstances significantly affecting the functioning of the electronic payment system, in the form of natural disasters, power outages and damage to communication lines.

5.3. The Party that has become subject to the force majeure circumstances specified in paragraph 5.1 of the Contract is obliged, at the request of the other Party, to provide supporting documents on the events that occurred, as well as any documentation related to the calculation of the amount of damage incurred, certified by authorized bodies.

5.4. The performance by the Parties of their obligations under the Contract is suspended for the duration of the force majeure circumstances and resumes immediately after their cessation.

5.5. After the cessation of the force majeure circumstances specified in paragraph 5.1 of the Contract, the Parties are obliged to continue performing their obligations under the Contract.

6. PROCEDURE FOR RESOLVING DISPUTES

6.1. In the event of disagreements and disputes arising in the process of performing the terms of the Contract, the Parties undertake to take all necessary measures to resolve them out of court.

6.2. If mutual agreement is not reached, all unresolved disputes are considered by the courts of the Republic of Kazakhstan in accordance with the legislation of the Republic of Kazakhstan.

7. MISCELLANEOUS

7.1. The Contract enters into force on the day the correspondent account is opened and is valid for an indefinite period of time*.

7.1.1. Paragraphs 4.1, 4.4, 6.2, 7.4, 7.7 apply to Islamic banks in accordance with the principles of Islamic finance.

7.1.2. Paragraph five of paragraph 3.3 applies to operations carried out on the correspondent account by the temporary administration for managing banks (temporary bank manager).

7.2. Termination of the contract is carried out on the grounds and in the manner provided for by the legislation of the Republic of Kazakhstan.

7.3. The Parties have the right to unilaterally terminate the Contract, and the Party that has expressed a desire to terminate the Contract is obliged to notify the other Party in writing 30 (thirty) business days before the expected date of termination of the Contract. In this case, the Parties are obliged to fulfill the obligations previously arising under the Contract and reimburse each other for expenses thereon no later than 5 (five) business days before the date of termination of the Contract.

An application to close the correspondent account and an instruction on transferring the balance of money from the correspondent account are submitted by the Client to the National Bank no later than 5 (five) business days before the date of termination of the Contract.

7.4. All amendments and additions to the Contract are made by the National Bank by written notification of the Client or by posting on the Internet resource of the National Bank. At the same time, the Client's signing of additional agreements to the Contract is not required, and the Client is considered to have acceded to the amendments and additions to the Contract from the moment they are made.

In case of disagreement with the amendments and additions made to the Contract, the Client has the right to demand termination of the contract by submitting to the National Bank an application to close the correspondent account and, if any, reimbursing expenses.

7.5. In the event of a change in name, location and details, as well as the Charter and (or) license to carry out banking operations and the document with specimen signatures and seal impression, the Party is obliged to notify the other Party in writing within 10 (ten) business days.

7.6. Upon reorganization of the Parties, all rights and obligations pass to the legal successors of the Parties.

7.7. Matters not regulated by the Contract are resolved in the manner established by the legislation of the Republic of Kazakhstan.

[*] except for Clients with whom correspondent account Contracts were previously concluded.

[****] in the Application for consent to debit money from a bank account, indicate the name and BIN of the National Bank, as well as the name and details of the contracts (agreements) confirming the Client's monetary obligation to the National Bank.

Appendix
to the Contract of accession for servicing a correspondent account in foreign currency

NOTIFICATION of opening a correspondent account in foreign currency

The notification is an integral part of the Contract

The National Bank notifies "___________________________" (Client) of the opening of a correspondent account in foreign currency with the assignment of an individual identification code (IIC)*.

IIC	BIC	Account currency

Authorized person

---

(signature)
(Surname and initials)

---

(date)