Resolution of the Board of the National Bank of the Republic of Kazakhstan No. 202 of 31 August 2016 on Approval of the Rules for the Issue, Use and Redemption of Electronic Money, as well as Requirements for Electronic Money Issuers and Electronic Money Systems in the Territory of the Republic of Kazakhstan

«NATIONAL BANK OF THE	[pic]	REPUBLICAN
REPUBLIC OF KAZAKHSTAN»		STATE INSTITUTION
REPUBLICAN		«NATIONAL BANK
STATE INSTITUTION		OF THE REPUBLIC OF KAZAKHSTAN»
RESOLUTION		RESOLUTION
OF THE BOARD		OF THE BOARD
31 August 2016		No. 202
Nur-Sultan city		Nur-Sultan city

On approval of the Rules for the issue, use and redemption of electronic money, as well as requirements for electronic money issuers and electronic money systems in the territory of the Republic of Kazakhstan	Registered by the Ministry of Justice of the Republic of Kazakhstan on 6 October 2016 No. 14298

(as amended and supplemented as of 21.09.2020)

In accordance with the laws of the Republic of Kazakhstan of 30 March 1995 «On the National Bank of the Republic of Kazakhstan», of 26 July 2016 «On Payments and Payment Systems», in order to establish the procedure for the issue, use and redemption of electronic money, as well as requirements for electronic money issuers and electronic money systems in the territory of the Republic of Kazakhstan, the Board of the National Bank of the Republic of Kazakhstan RESOLVES:

1. To approve the attached Rules for the issue, use and redemption of electronic money, as well as requirements for electronic money issuers and electronic money systems in the territory of the Republic of Kazakhstan.
2. To recognize as having lost force the resolution of the Board of the National Bank of the Republic of Kazakhstan, as well as structural elements of certain resolutions of the Board of the National Bank of the Republic of Kazakhstan according to the list in the appendix to this resolution.
3. The Department of Payment Systems (Ashykbekov E.T.) shall, in the manner established by the legislation of the Republic of Kazakhstan, ensure:
   1) together with the Legal Department (Sarsenova N.V.), state registration of this resolution with the Ministry of Justice of the Republic of Kazakhstan;
   2) sending of this resolution to the republican state enterprise with the right of economic management «Republican Center for Legal Information of the Ministry of Justice of the Republic of Kazakhstan»:
   for official publication in the information and legal system «Adilet» within ten calendar days after its state registration with the Ministry of Justice of the Republic of Kazakhstan; for inclusion in the State Register of Normative Legal Acts of the Republic of Kazakhstan, the Reference Control Bank of Normative Legal Acts of the Republic of Kazakhstan within ten calendar days from the day of its state registration with the Ministry of Justice of the Republic of Kazakhstan;
   3) placement of this resolution on the official internet resource of the National Bank of the Republic of Kazakhstan after its official publication.
4. The Department for the Protection of the Rights of Consumers of Financial Services and External Communications (Terentyev A.L.) shall ensure the sending of this resolution for official publication in periodicals within ten calendar days after its state registration with the Ministry of Justice of the Republic of Kazakhstan.
5. Control over the execution of this resolution shall be entrusted to the Deputy Chairman of the National Bank of the Republic of Kazakhstan Pirmatov G.O.
6. This resolution shall enter into force upon the expiration of ten calendar days after the day of its first official publication.

Chairman
of the National Bank	D. Akishev

Appendix
to the resolution of the Board of the National Bank of the Republic of Kazakhstan of 31 August 2016 No. 202

List of resolutions of the Board of the National Bank of the Republic of Kazakhstan, as well as structural elements of certain resolutions of the Board of the National Bank of the Republic of Kazakhstan, recognized as having lost force

1. Resolution of the Board of the National Bank of the Republic of Kazakhstan of 26 August 2011 No. 102 «On approval of the Rules for the issue, use and redemption of electronic money, as well as requirements for electronic money issuers and electronic money systems in the territory of the Republic of Kazakhstan» (registered in the Register of State Registration of Normative Legal Acts under No. 7241, published on 27 October 2011 in the newspaper «Yuridicheskaya Gazeta» No. 157 (2147)).
2. Paragraph 10 of the Amendments to Certain Normative Legal Acts of the National Bank of the Republic of Kazakhstan on Identification Numbers, which is Appendix 1 to the resolution of the Board of the National Bank of the Republic of Kazakhstan of 26 March 2012 No. 108 «On Amendments to Certain Normative Legal Acts of the National Bank of the Republic of Kazakhstan on Identification Numbers» (registered in the Register of State Registration of Normative Legal Acts under No. 7625, published on 6 September 2012 in the newspaper «Kazakhstanskaya Pravda» No. 299-300 (27118-27119)).
3. Paragraph 14 of the List of Normative Legal Acts of the Republic of Kazakhstan to which Amendments and Additions are Made, approved by the resolution of the Board of the National Bank of the Republic of Kazakhstan of 27 August 2014 No. 168 «On Amendments and Additions to Certain Normative Legal Acts of the Republic of Kazakhstan» (registered in the Register of State Registration of Normative Legal Acts under No. 9796, published on 12 November 2014 in the information and legal system «Adilet» of the republican state enterprise with the right of economic management «Republican Center for Legal Information of the Ministry of Justice of the Republic of Kazakhstan»).

Approved by the resolution of the Board of the National Bank of the Republic of Kazakhstan of 31 August 2016 No. 202

Rules for the issue, use and redemption of electronic money, as well as requirements for electronic money issuers and electronic money systems in the territory of the Republic of Kazakhstan

Chapter 1. General provisions

1. These Rules for the issue, use and redemption of electronic money, as well as requirements for electronic money issuers and electronic money systems in the territory of the Republic of Kazakhstan (hereinafter - the Rules) have been developed in accordance with the Law of the Republic of Kazakhstan of 26 July 2016 «On Payments and Payment Systems» (hereinafter - the Law on Payments and Payment Systems) and determine the procedure for the issue, use and redemption of electronic money in the territory of the Republic of Kazakhstan, as well as requirements for electronic money issuers (hereinafter - the issuer) and electronic money systems in the territory of the Republic of Kazakhstan.
   The procedure for the issue, use and redemption of electronic money in the territory of the Republic of Kazakhstan, as well as requirements for issuers and electronic money systems in the territory of the Republic of Kazakhstan include the issue of electronic money, the carrying out of operations using electronic money, the redemption of electronic money, requirements for issuers and electronic money systems in the territory of the Republic of Kazakhstan.
2. The Rules use the concepts provided for by Article 1 of the Law on Payments and Payment Systems, as well as the following concepts:
   1) security procedure - a set of organizational measures and software and technical means of information protection intended to certify the rights of the owner of electronic money to use electronic money and to detect errors and (or) changes in the content of messages transmitted and received electronically (hereinafter - electronic message) when using electronic money;
   2) internal rules of the electronic money system - the rules in accordance with which the issue, sale, acquisition, redemption of electronic money are carried out, as well as operations using them are carried out in the electronic money system;
   3) personal account of the electronic money owner - a personal section of the electronic money owner on the internet resource of the electronic money system, through which the electronic money owner has access to his electronic wallet to obtain the necessary information about the balance of electronic money, operations carried out on it, making payments and other operations using electronic money in the manner provided for by the internal rules of the electronic money system and contracts concluded between the operator of the electronic money system (hereinafter - the operator) or the issuer and the electronic money owner. The list of services provided through the personal account of the electronic money owner is established by the operator;
   4) termination of the issue of electronic money - termination of the issuer's activity in providing a payment service involving the issuance of electronic money to an individual or an agent of the electronic money system (hereinafter - the agent) by exchange for an amount of money equal to their nominal value;
   5) exchange operations with electronic money - operations for the exchange of electronic money issued by one issuer for electronic money of another issuer that is a participant in another electronic money system;
   6) forced redemption of electronic money - an operation for the redemption of electronic money, providing for the transfer of an amount equal to their nominal value to the bank account of the electronic money owner or to the consolidated account of the issuer until they are claimed by an individual;
   7) excluded in accordance with the resolution of the Board of the National Bank of the Republic of Kazakhstan of 21.09.20 No. 112 (see previous edition)
   8) blocking of an electronic wallet - full or partial prohibition on the use of electronic money stored in the electronic wallet of the electronic money owner.

Chapter 2. Procedure for the issue of electronic money

3. The issue of electronic money is carried out by the issuer within the amount of money received from individuals or agents, in accordance with contracts concluded with them and the internal rules of the electronic money system.
   The electronic money system functions with the participation of a single issuer (hereinafter - single-issuer electronic money system) or several (two or more) issuers (hereinafter - multi-issuer electronic money system).
4. The issuer, within ten calendar days from the date of commencement of activity on the issue of electronic money, notifies the National Bank of the Republic of Kazakhstan thereof in the form according to the appendix to the Rules and submits the following documents and information:
   1) internal rules of the electronic money system approved by the management body of the issuer or the operator (in the case where the operator acts as the owner of the trademark of the electronic money system and (or) manages the electronic money system);
   2) documents confirming the status of the issuer in the electronic money system (in the case where the issuer is not the operator and does not own the right to the trademark of the electronic money system);
   3) samples of contracts concluded with electronic money owners;
   4) confirmation of the existence of approved security procedures and protection of information from unauthorized access in the electronic money system;
   5) description of the main characteristics and information about the electronic money system, including:
   name of the electronic money system; name of the operator; type of electronic wallet; scheme of contractual relationships between participants of the electronic money system; scheme of money and information flows when carrying out operations using electronic money; scheme of interaction with the operator (in the case where the issuer is not the operator); risk management methods applied in the electronic money system;
   6) a certificate on the characteristics of software and technical means, containing:
   description of the composition of software and technical means of information processing, telecommunications and used communication channels; internal documents containing information on organizational, hardware and software and other methods of protecting software and information from unauthorized access in the electronic money system.
5. When changing the name of the trademark of the electronic money system or the issuer or operator (in the case where the issuer is not the operator and does not own the right to the trademark of the electronic money system), the issuer notifies the National Bank of the Republic of Kazakhstan thereof in free written form within fifteen calendar days from the day of the change of the trademark of the electronic money system or the issuer or operator.
6. The acquisition of electronic money by individuals and agents is carried out by depositing cash or transferring money in non-cash order to the corresponding account of the issuer.
7. The issuer or operator, when issuing electronic money, familiarizes the electronic money owner with information on the procedure for carrying out operations with electronic money and the risks arising from the use of electronic money, methods of filing claims and the procedure for their consideration, as well as the types and amounts of commission fees charged when carrying out operations using electronic money.
8. When issuing electronic money, the electronic money owner is issued a receipt or other document confirming the fact of acquisition by an individual or agent of electronic money (hereinafter - the receipt). The form and methods of issuing the receipt upon the issue of electronic money are established by the relevant contracts and (or) internal rules of the electronic money system, taking into account the requirements established by paragraph 9 of the Rules.
9. The receipt issued upon the issue of electronic money contains the following details:
   1) name and details of the issuer, including its business identification number;
   2) time and date of the operation;
   3) serial number of the receipt;
   4) amount of money accepted or payments received from the electronic money owner;
   5) amount of issued electronic money;
   6) identification code of the electronic wallet of the electronic money owner - individual;
   7) amount of commission fee (in case of charging).
   It is allowed to reflect in the receipt additional details established by the issuer.
10. Electronic money is considered issued by the issuer into circulation from the moment information about the available amount of electronic money is reflected in the electronic wallet, which is transferred to the disposal or is in the use of the electronic money owner.
11. The issuer ensures that the total amount of electronic money issued by it corresponds to the total amount of money accepted from electronic money owners.
12. It is allowed to sell electronic money issued by the issuer outside the Republic of Kazakhstan on the basis of contracts concluded with agents - non-residents of the Republic of Kazakhstan, subject to the requirements established by Article 43 of the Law on Payments and Payment Systems and the Rules.
13. Confirmation of the acquisition of electronic money from an agent for an individual is a document issued by the agent confirming the receipt by him of the corresponding amount of money in exchange for the electronic money being sold or other confirmation (information message) unambiguously indicating the fact of the sale of electronic money to an individual.
    The issuer ensures that the agent issues to the electronic money owner the corresponding document confirming the deposit or issuance of the amount of money to an individual when the agent sells or acquires electronic money in the manner provided for by the contract between the agent and the issuer.
14. Payments and (or) transfers of money between agents that are not banks and their clients - residents of the Republic of Kazakhstan, related to the acquisition or sale of electronic money, are carried out in the national currency of the Republic of Kazakhstan.
15. The contract concluded between the issuer and the agent contains:
    1) the procedure and conditions for the acquisition of electronic money by the agent;
    2) the procedure and conditions for the sale of electronic money by the agent;
    3) the regime and procedure for the exchange of information during the sale and acquisition of electronic money;
    4) conditions for ensuring the confidentiality of information and establishing responsibility for its non-compliance;
    5) the procedure and conditions for crediting cash accepted by the agent from individuals to its bank accounts;
    6) responsibility of the parties for non-performance or improper performance of their obligations;
    7) the procedure for resolving disputes between the issuer and the agent.
16. The issuer establishes requirements for the financial position of the agent and the software and technical means used by him when carrying out operations with electronic money, in the case where these requirements are established by the internal rules of the electronic money system.
17. It is allowed to sell electronic money by agents through electronic terminals that allow operations for accepting cash and non-cash payments, cash and non-cash payment acceptance points, electronic remote access systems and internet resources.
18. Cash accepted by agents that are not banks when they sell electronic money to individuals is subject to crediting to their bank accounts in the procedure and within the time limits provided for by the contract concluded between the issuer and the agent.
19. When an individual acquires electronic money from the issuer or agent, it is allowed to increase the amount of money transferred by the individual to the issuer or agent by the corresponding amount for payment of the cost of the electronic wallet and additional services provided by the issuer or agent during the issue or sale of electronic money, respectively.
20. Second-tier banks and the joint-stock company «Kazpost» sell in the territory of the Republic of Kazakhstan electronic money denominated in foreign currency issued by non-residents of the Republic of Kazakhstan on the basis of contracts concluded with issuers - non-residents of the Republic of Kazakhstan.
21. It is allowed for the issuer to carry out exchange operations with electronic money issued by it for electronic money issued by another issuer, as well as to conclude contracts with agents for them to carry out operations for the exchange of electronic money.

Chapter 3. Procedure for the use of electronic money

22. The use of electronic money is carried out by a participant of the electronic money system in accordance with the internal rules of the electronic money system and the terms of contracts concluded between the operator of the electronic money system or the issuer and the participant of the electronic money system.
    The Rules are supplemented by paragraph 22-1 in accordance with the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 21.09.20 No. 112 22-1. The issuer and (or) operator, before an individual makes a payment and (or) transfer using electronic money, notifies said individual of the opening of an electronic wallet for them in the electronic money system, indicating the identification code of the electronic wallet. Paragraph 23 is set out in the wording of the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 21.09.20 No. 112 (see previous wording)
23. Payments and other operations using electronic money are carried out by transferring electronic money by its owner from their electronic wallet to the electronic wallet of an identified owner of electronic money, subject to compliance with security procedures against unauthorized access established by the internal rules of the electronic money system or contracts concluded between participants of the electronic money system.
    Paragraph 24 is set out in the wording of the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 21.09.20 No. 112 (see previous wording)
24. After making a payment using electronic money, the owner is issued a trade receipt confirming the fact of the operation using electronic money, in the form of an electronic message or on paper (hereinafter - trade receipt).
    The trade receipt contains the following details:
    1) payment amount;
    2) time and date of payment;
    3) sequential number of the trade receipt;
    4) name (code) and individual identification number, business identification number of the individual entrepreneur or legal entity;
    5) transaction code or other code identifying the payment in the electronic money system;
    6) identification code of the electronic wallet of the owner of electronic money;
    7) contact telephone numbers of the operator, including mobile communication.
    Reflection of additional details in the trade receipt is allowed.
    The Rules are supplemented by paragraph 24-1 in accordance with the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 21.09.20 No. 112 24-1. After making a transfer of electronic money, the owner is issued a document confirming the fact of the operation using electronic money, in the form of an electronic message or on paper. Paragraph 25 is set out in the wording of the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 27.08.18 No. 182 (see previous wording); resolution of the Board of the National Bank of the Republic of Kazakhstan dated 21.09.20 No. 112 (see previous wording)
25. Transfer of electronic money between participants of the electronic money system is allowed, where the recipients of electronic money are identified owners of electronic money of both one and several issuers within one electronic money system.
26. The issuer or operator informs the owner of electronic money about each operation using electronic money by sending them a corresponding notification in the manner established by the contract with the owner of electronic money.
27. The issuer ensures the possibility of determining owners of electronic money - individuals as identified and unidentified when they carry out operations with electronic money.
    Paragraph 28 is set out in the wording of the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 27.08.18 No. 182 (see previous wording); resolution of the Board of the National Bank of the Republic of Kazakhstan dated 21.09.20 No. 112 (see previous wording)
28. The issuer ensures compliance with the restrictions established by paragraph 5 of Article 42 and paragraph 4 of Article 44 of the Law on Payments and Payment Systems on the amount of acquisition of electronic money for unidentified owners of electronic money, the amount of storage of electronic money in an electronic wallet and the total amount of used electronic money through an electronic wallet.
29. The issuer is allowed to establish requirements for the types and amounts of operations carried out using electronic money issued by it, not contradicting the Law on Payments and Payment Systems.
    Paragraph 30 is set out in the wording of the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 21.09.20 No. 112 (see previous wording)
30. In case of refusal by the owner of electronic money from the subject of a civil law transaction acquired using electronic money, and acceptance of such refusal by an individual entrepreneur or legal entity, the electronic money is returned to the owner of electronic money - payer to their electronic wallet or they are reimbursed the amount of money equivalent to the amount of electronic money. The methods, procedure and terms for making such a payment are established by the internal rules of the electronic money system.
31. At the request of the owner of electronic money, the issuer provides them with a statement containing information about operations carried out using electronic money, in the form and within the terms provided for by the contract concluded between them.
32. The issuer blocks the electronic wallet of the owner of electronic money in cases of:
    1) receipt of a notification from the owner of electronic money, including in case of loss, theft or unauthorized use of the electronic wallet;
    2) non-fulfillment by the owner of electronic money of their obligations provided for by the contract concluded between the issuer and the owner of electronic money;
    3) carrying out operations in violation of the established requirements and conditions for the use of electronic money;
    4) imposition of arrest on the electronic money of the owner of electronic money on the grounds provided for by legislative acts of the Republic of Kazakhstan;
    5) on other grounds provided for by the contract between the issuer and the owner of electronic money.
    The conditions and terms for blocking the electronic wallet of the owner of electronic money are provided for by the contract concluded between the issuer and the owner of electronic money.
33. In case of blocking the electronic wallet of the owner of electronic money, the obligations of the issuer and the obligations of the owner of electronic money that arose before the moment of blocking the electronic wallet are subject to fulfillment.
34. Upon detection of erroneous transfer of electronic money, loss, theft and unauthorized use of the electronic wallet, the owner of electronic money immediately notifies the issuer thereof in the manner established by the contract between the issuer and the owner of electronic money and (or) the internal rules of the electronic money system.

Chapter 4. Procedure for redemption of electronic money

35. When the owner of electronic money - an individual presents electronic money for redemption, the issuer redeems the electronic money by issuing them cash or by transferring money to the bank account of the owner of electronic money - an individual. The methods of presenting electronic money for redemption, except for forced redemption of electronic money, are established by the contract concluded between the owner of electronic money - an individual and the issuer, and (or) the internal rules of the electronic money system.
36. Electronic money is considered redeemed by its issuer from the moment the corresponding amount of money to be transferred to the owner of electronic money - an individual is credited to the bank account of the owner of electronic money - an individual or cash is issued to them.
    Electronic money is considered redeemed by its issuer from the moment the corresponding amount of money to be transferred to the owner of electronic money - an individual entrepreneur or legal entity is credited to the bank account of the owner of electronic money - an individual entrepreneur or legal entity. Paragraph 37 is set out in the wording of the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 21.09.20 No. 112 (see previous wording)
37. When an individual entrepreneur and (or) legal entity accepts electronic money from the owner of electronic money as payment for civil law transactions, the issuer redeems them in the procedure and terms established by paragraph 8 of Article 44 of the Law on Payments and Payment Systems.
38. The issuer, thirty calendar days before the termination of the issuance of electronic money, notifies the National Bank of the Republic of Kazakhstan thereof in the form according to the appendix to the Rules.
39. Electronic money systems are divided into single-issuer and multi-issuer.
40. The issuer, upon termination of the issuance of electronic money within a single-issuer electronic money system, carries out the following:
    1) thirty calendar days before the termination of the issuance of electronic money, informs the owners of electronic money thereof through the internet resource of the electronic money system (if any) and the personal account of the owner of electronic money, mass media, sending to the email address and (or) to the mobile device specified by the owner of electronic money, short text and (or) multimedia messages. The message sent by the issuer contains information on the need to redeem electronic money in circulation no later than the term established by the issuer from the date of termination of activity on the issuance of electronic money;
    2) after the expiration of the term established by the issuer for the redemption of electronic money in circulation, unredeemed electronic money located in electronic wallets:
    of individual entrepreneurs and legal entities - are forcibly redeemed to their bank accounts; of identified owners of electronic money - individuals who have bank accounts - are forcibly redeemed to their bank accounts; of unidentified owners of electronic money - individuals - are forcibly redeemed to the corresponding balance account of the issuing bank until they are claimed by the owner of electronic money;
    3) for receiving forcibly redeemed electronic money of individuals:
    identified owners of electronic money present an identity document to the issuer; unidentified owners of electronic money provide the issuer with information containing a code value, which is previously sent by the issuer for each unidentified electronic wallet by sending to the email address and (or) to the mobile device specified by the owner of electronic money, short text and (or) multimedia messages. At the same time, the issuer, when issuing money, records their recipient by their identity document;
    4) the issuer, within three working days after the expiration of the term established by it for the redemption of electronic money in circulation, submits to the National Bank of the Republic of Kazakhstan in free written form information containing information on the number of owners of electronic money, electronic money that were forcibly redeemed to the corresponding bank account of the issuer, indicating the amount.
    The issuer quarterly, before the tenth day (inclusive) of the month following the next quarter, informs the National Bank of the Republic of Kazakhstan in free written form about the unfulfilled amount (remaining amount) and the number of owners of electronic money until the full fulfillment of its obligations (issuance of money).
41. The issuer, upon termination of the issuance of electronic money within a multi-issuer electronic money system, carries out the following:
    1) on the basis of a contract concluded with one of the issuers of the electronic money system, assigns to them the obligations for the issued electronic money;
    2) in the absence of a contract with one of the issuers for the assignment of its obligations by the issuer that has decided to terminate the activity on the issuance of electronic money, the procedure for the issuer to fulfill previously assumed obligations to the owners of electronic money for the issued electronic money and their redemption is similar to the procedure established for a single-issuer electronic money system;
    3) the issuer informs the owners of electronic money about the decision to terminate the activity on the issuance of electronic money and the bank that has assumed obligations from the issuer (if there is such an agreement with one of the issuers) through the internet resource of the electronic money system (if any) and the personal account of the owner of electronic money, mass media, sending to the email address and (or) to the mobile device specified by the owner of electronic money, short text and (or) multimedia messages. The message sent by the issuer contains information on the need to redeem electronic money in circulation no later than the term established by the issuer from the date of termination of activity on the issuance of electronic money.
    The issuer that has assumed obligations from the issuer that terminated its activity is allowed to impose other working conditions on individual entrepreneurs or legal entities and agents within the electronic money system.

The Rules are supplemented by Chapter 4-1 in accordance with the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 21.09.20 No. 112
Chapter 4-1. Termination of operations with the use of electronic money issued by an issuing bank,
deprived of a license and (or) an appendix to a license, or whose license has been suspended

41-1. From the date of suspension or deprivation of a license and (or) an appendix to a license of the issuing bank, the operator terminates operations with the use of electronic money issued by this issuer, and also informs the owners of electronic money thereof through the internet resource of the electronic money system (if any) and the personal account of the owner of electronic money, mass media, sending to the email address and (or) to the mobile device specified by the owner of electronic money, short text and (or) multimedia messages. 41-2. The operator is allowed to buy back, at its own expense, electronic money issued by an issuing bank deprived of a license and (or) an appendix to a license, or whose license has been suspended, from owners of electronic money - individuals. The operator is reimbursed the total amount of bought-back electronic money located in its electronic wallet, according to the order of satisfaction of creditors' claims of a liquidated bank established by the Law of the Republic of Kazakhstan dated 31 August 1995 "On Banks and Banking Activity in the Republic of Kazakhstan".

Chapter 5. Requirements for electronic money issuers and electronic money systems in the territory of the Republic of Kazakhstan

42. The issuer takes measures to ensure and implement in the electronic money system organizational and procedural measures for the purpose of identifying, as well as preventing fraud and countering the legalization (laundering) of proceeds from crime and the financing of terrorism in accordance with the requirements of the Law of the Republic of Kazakhstan dated 28 August 2009 "On Countering the Legalization (Laundering) of Proceeds from Crime and the Financing of Terrorism".
43. The issuer ensures compliance by agents with the requirements established by the Law on Payments and Payment Systems and the Rules.
44. The issuer ensures compliance by the operator with the functions assigned to it, including those delegated on its behalf, on the basis of a contract concluded with the operator.
45. The functioning of the electronic money system is ensured by the issuer or the operator.
46. Means and measures to prevent unauthorized access to software and hardware used in the electronic money system, including organizational measures and software and hardware protection, ensure a sufficient level of information protection and preservation of its confidentiality.
47. Security and information protection procedures applied in the electronic money system ensure continuous protection of information at all stages of issuance, use and redemption of electronic money, including:
    1) reliable establishment of the right of the owner of electronic money to use electronic money when performing operations;
    2) detection of distortions and (or) changes in the content of electronic messages generated when using electronic money;
    3) ensuring protection against unauthorized access to information and ensuring the integrity of this information;
    4) providing evidence in the investigation of incidents related to the use of electronic money.
48. The issuer or operator keeps records of information on the balances of electronic money in the electronic wallets of owners of electronic money and operations carried out by them with electronic money.
49. The issuer ensures the recording of all operations carried out using electronic money between participants of the electronic money system, as well as the storage of information for at least five years, generated when using electronic money in the format in which it was generated, sent or received, while maintaining its integrity and immutability.

The Rules are supplemented by Chapter 6 in accordance with the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 21.09.20 No. 112
Chapter 6. Remote and simplified identification of the owner of electronic money - an individual

50. Remote identification of the owner of electronic money - an individual is carried out by the issuer and (or) operator on the basis of information from available sources obtained from the operational center of the interbank money transfer system, in the procedure and on the grounds provided for by the Rules for the provision of electronic banking services by banks and organizations carrying out certain types of banking operations, approved by the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 31 August 2016 No. 212 (registered in the Register of State Registration of Normative Legal Acts under No. 14337).
51. Identification of the owner of electronic money - an individual in a simplified way is carried out by the issuer and (or) operator by conducting a video conference session or by recording the client's image using a specialized application that implements the technology of detecting the movement of the interviewee during identification.
    Simplified identification is carried out by the issuer and (or) operator through its official internet resource and (or) mobile application.
    The issuer and (or) operator is allowed to use devices of other individual entrepreneurs and legal entities for simplified identification of the owner of electronic money - an individual on the basis of a concluded contract, subject to compliance with the requirements of paragraphs 52, 53 and 54 of these Rules.
52. During simplified identification, the issuer and (or) operator ensures:
    1) full recording of the person of the owner of electronic money - an individual and their identity document;
    2) obtaining from open sources confirmation of the individual identification number of the owner of electronic money - an individual.
    The issuer and (or) operator is allowed to establish additional requirements or control questions during simplified identification, if these requirements and questions are provided for by the internal rules of the electronic money system.
53. The issuer and (or) operator, for simplified identification, ensures the use of licensed software aimed at maintaining the state of confidentiality, integrity and availability of information.
54. The issuer and (or) operator makes a decision on identifying the owner of electronic money - an individual in a simplified way on the basis of procedures provided for by the internal rules of the electronic money system and contracts concluded between the operator and (or) issuer and the owner of electronic money.

Amendments were made to the appendix in accordance with the resolution of the Board of the National Bank of the Republic of Kazakhstan dated 27.08.18 No. 182 (see previous wording)
Appendix
to the Rules for the issuance, use and redemption of electronic money, and requirements for electronic money issuers and electronic money systems in the territory of the Republic of Kazakhstan

Form

Notification on the commencement (termination) of the issuance of electronic money

______ notifies of the commencement (termination) of the issuance (name of the issuing bank) of electronic money from "__"____ 20 ___ year ______ (name of the system)

Authorized person of the notifier

---

(position) (Surname, name, patronymic (if any) (signature)