THE RESOLUTION OF BOARD OF THE AGENCY OF THE REPUBLIC OF KAZAKHSTAN ON REGULATION AND DEVELOPMENT OF THE FINANCIAL MARKET

of January 29, 2021 No. 6

About modification of some regulatory legal acts of the Republic of Kazakhstan concerning consumer protection of financial services

According to Item 2 of Article 31, Item 2 of Article 34 and Items 2, the 3 and 7 article 39 of the Law of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan", Board of the Agency of the Republic of Kazakhstan on regulation and development of the DECIDES: financial market

1. Approve the List of regulatory legal acts of the Republic of Kazakhstan concerning consumer protection of financial services to which changes are made, according to appendix to this resolution (further - the List).

2. To provide to department of consumer protection of financial services in the procedure established by the legislation of the Republic of Kazakhstan:

1) together with Legal department state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) placement of this resolution on official Internet resource of the Agency of the Republic of Kazakhstan on regulation and development of the financial market after its official publication;

3) within ten working days after state registration of this resolution submission to Legal department of data on execution of the action provided by the subitem 2) of this Item.

3. To impose control of execution of this resolution on the supervising vice-chairman of the Agency of the Republic of Kazakhstan on regulation and development of the financial market.

4. This resolution becomes effective after ten calendar days after day of its first official publication.

Appendix

to the Resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of January 29, 2021 No. 6

The list of regulatory legal acts of the Republic of Kazakhstan concerning consumer protection of financial services to which changes are made

1. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of March 26, 2012 No. 137 "About approval of Rules of calculation of rates of remuneration in reliable, annual, effective, comparable basis (actual cost) on loans and deposits" (it is registered in the Register of state registration of regulatory legal acts at No. 7663, it is published on August 16, 2012 in the Kazakhstanskaya Pravda newspaper No. 271-273 (27090-27092) following changes:

in Rules of calculation of rates of remuneration in reliable, annual, effective, comparable basis (actual cost) on loans and deposits", approved by the specified resolution:

state preamble in the following edition:

"These rules of calculation of rates of remuneration in reliable, annual, effective, comparable basis (actual cost) on loans and deposits (further - Rules) are developed according to the Law of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" (further - the Law) and establish procedure for calculation by banks, except for Islamic banks, and the organizations performing separate types of banking activities, remuneration rates in reliable, annual, effective, comparable basis (actual cost) on loans and deposits (except for interbank).

Requirements of Rules extend to branches of nonresident banks of the Republic of Kazakhstan, except for branches of Islamic banks - nonresidents of the Republic of Kazakhstan.";

state Item 11 in the following edition:

"11. In case of dependence of rate of remuneration on loan from basic indicators (the rate of inflation, base rate of National Bank of the Republic of Kazakhstan, LIBOR rate, the foreign exchange rate and others) the bank uses value of basic indicator for date of calculation of annual effective rate of remuneration.".

2. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of January 28, 2016 No. 8 "About approval of Method of calculation of regular payments on the loans issued by the banks, the organizations performing separate types of banking activities and to the microcredits issued by the organizations performing microfinancial activities, physical persons and providing repayment schedule availability and also temporary bases for calculation of remuneration for such loans, (microcredits)" (it is registered in the Register of state registration of regulatory legal acts at No. 13305, it is published on April 29, 2016 in the Information system of law of Ad_let) the following change:

in Method of calculation of regular payments on the loans issued by the banks, the organizations performing separate types of banking activities and to the microcredits issued by the organizations performing microfinancial activities, physical persons and providing repayment schedule availability and also the temporary bases for calculation of remuneration for such loans, (microcredits) approved by the specified resolution, (dalee-Metodiki):

state Item 1 in the following edition:

"1. These Method of calculation of regular payments on the loans issued by the banks, the organizations performing separate types of banking activities and to the microcredits issued by the organizations performing microfinancial activities, physical persons and providing repayment schedule availability, and also temporary bases for calculation of remuneration for such loans (microcredits) (further - Techniques) are developed according to the laws of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" and of November 26, 2012 "About microfinancial activities" and determine method of calculation of regular payments by the loans issued by the banks, the organizations performing separate types of banking activities and to the microcredits issued by the organizations performing microfinancial activities, physical persons and providing repayment schedule availability and also temporary bases for calculation of remuneration for such loans (microcredits).

Requirements of Techniques extend to branches of banks - nonresidents of the Republic of Kazakhstan.".

3. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of July 28, 2017 No. 136 "About approval of Rules of provision of banking services and considerations by banks, the organizations performing separate types of banking activities, addresses of the clients arising in the course of provision of banking services" (it is registered in the Register of state registration of regulatory legal acts at No. 15541, it is published on September 7, 2017 in Reference control bank of regulatory legal acts of the Republic of Kazakhstan) the following change:

in Rules of provision of banking services and considerations by banks, the organizations performing separate types of banking activities, addresses of the clients arising in the course of provision of the banking services approved by the specified resolution (further - Rules):

state preamble in the following edition:

"These rules of provision of banking services and consideration by banks, the organizations performing separate types of banking activities, addresses of the clients arising in the course of provision of banking services (further - Rules), are developed according to Item 2 of article 31 of the Law of the Republic of Kazakhstan of August 31, 1995 "About banks and banking activity in the Republic of Kazakhstan" (further - the Law on banks) for the purpose of enhancement of system of provision of banking services and determination of procedure for consideration by banks, the organizations performing separate types of banking activities, addresses of the clients arising in the course of provision of banking services.

Requirements of Rules extend to branches of banks - nonresidents of the Republic of Kazakhstan.".

4. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of December 23, 2019 No. 248 "About approval of the Procedure for the conclusion of the agreement of bank loan, including requirements to content, registration, compulsory provisions of the agreement of bank loan, forms of the repayment schedule of loan and the instruction sheet for the borrower - physical person" (it is registered in the Register of state registration of regulatory legal acts at No. 19774, it is published on December 30, 2019 in Reference control bank of regulatory legal acts of the Republic of Kazakhstan) the following changes:

according to the procedure of the conclusion of the agreement of bank loan, including requirements to content, registration, compulsory provisions of the agreement of bank loan, forms of the repayment schedule of loan and the instruction sheet for the borrower - physical person, approved by the specified resolution:

state Items 1 and 2 in the following edition:

"1. For the purposes of the Procedure the following concepts are used:

1) bank - bank of the second level, including Islamic bank when carrying out the banking activity provided by the subitem 3) of Item 1 of article 52-5 of the Law on banks, Development Bank of Kazakhstan joint-stock company, branch of nonresident bank of the Republic of Kazakhstan, branch of Islamic nonresident bank of the Republic of Kazakhstan, the organization which is performing separate types of banking activities, having the license for implementation of banking loan activities;

2) credit line - the obligation of bank to credit the borrower on the conditions allowing the borrower most to determine time of receipt of bank loan, but within the amount and time determined by rules about domestic credit policy of bank for such form of crediting and the agreement on provision (opening) of credit line;

3) the agreement on provision (opening) of credit line - the agreement of bank loan signed on the conditions allowing the borrower most to determine in the agreement (agreements) or the statement (statements), being (being) integral (integral) part (parts) of the agreement on provision (opening) of credit line, or by use of payment card, the amount and time of receipt of loan;

4) remuneration - the payment for the granted bank loan determined in percentage expression to loan amount at the rate of the annual size of the money which is due to bank or, in the cases provided by Procedure in fixed amount.

2. The agreement of bank loan (further - the agreement) is signed by the parties and contains the conditions established by the legislation of the Republic of Kazakhstan for agreements of the corresponding type, the conditions determined by agreement of the parties and also compulsory provisions according to the following list:

1) general terms of the agreement;

2) borrower's rights;

3) rights of bank;

4) obligations of bank;

5) restrictions for bank;

6) responsibility of the parties for violation of obligations;

7) procedure for modification of terms of the contract;

8) the condition providing that in case of concession bank of the right (requirement) for the agreement to the third party of the requirement and restriction, shown by the legislation of the Republic of Kazakhstan to the creditor's relations with the borrower within the agreement, extend to legal relationship of the borrower with the third party to whom the right (requirement) is yielded.";

state Item 11 in the following edition:

"11. The agreement is signed between bank and the borrower in writing, in the Kazakh and Russian languages with appendix in necessary cases of transfer into other languages, and in case of the conclusion of the contract with foreign persons - in the language, Kazakh and acceptable for the parties.

Instruction in the agreement of references to internal documents of bank and other documents which can change in the period of the duration of the agreement unilaterally and are unavailable to acquaintance by the borrower, it is not allowed.

The text of the agreement is printed on sheets of format A 4, by the Times New Roman font at least twelve in size, with regular interalphabetic, unary interlower case intervals and application of paragraph spaces.

The conditions specified in subitems 1), 2), 3), 4), 5), 6), 7), 8), 9), 10), 11), 12), 13), 14) and 15) of Item 3 and the subitem 6) of Procedure Item 2 are reflected in the agreement after the title page in the specified sequence.

By provision of credit line by means of agreement signature about provision (opening) of credit line, and also within it the agreement (agreements) or giving by the borrower of the statement (statements) which is (being) integral (integral) part (parts) of the agreement on provision (opening) of credit line and based on which (which) issue of the next loan is performed:

in the agreement on provision (opening) of credit line the total amount and aggregate term of credit line is specified;

the conditions provided in subitems 1), 2), 3), 4), 5), 6), 8), 11) and 15) of Procedure Item 3 are specified in the agreement or the statement after the title page in the specified sequence;

the conditions provided in subitems 6), 7) and 9) of Item 2, in Items 4, of 5, of 6, 7 and 8, subitems 7), 9), 10), 12), 13), 14), 16), 17) and 18) of Procedure Item 3 in case of their specifying in the agreement on provision (opening) of credit line do not require additional specifying in the agreement or the statement.";

exclude Item 13.

5. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of November 28, 2019 No. 218 "About approval of the List of the commissions and other payments connected with issue and servicing of the bank loan issued to physical person" (it is registered in the Register of state registration of regulatory legal acts at No. 19702, it is published on December 11, 2019 in Reference control bank of regulatory legal acts of the Republic of Kazakhstan) the following change:

in the List of the commissions and other payments connected with issue and servicing of the bank loan issued to physical person, approved by the specified resolution:

5) of Item 2 to state the subitem in the following edition:

"5) payments of the client for benefit of insurance company if act as the beneficiary according to the insurance contract in case of loss occurrence bank of the second level, branch of nonresident bank of the Republic of Kazakhstan, the organization performing separate types of banking activities (further - bank), except for payments of the client for benefit of insurance company in case of insurance of subject of pledge of the agreement of the pledge providing obligations of the client under the agreement of bank loan and who is in use of the pledger;".

 

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