RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of February 28, 2022 No. 11

About approval of Requirements to Rules of internal control for the purpose of counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction for payment institutes

According to the subitem 6) of the paragraph of third of part two of Item 19 of the Regulations on National Bank of the Republic of Kazakhstan approved by the Presidential decree of the Republic of Kazakhstan of December 31, 2003 No. 1271 "About approval of the Provision and structure of National Bank of the Republic of Kazakhstan" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Requirements to Rules of internal control for the purpose of counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction for payment institutes.

2. To the payment institutes which underwent accounting registration in National Bank of the Republic of Kazakhstan to bring internal documentation into accord with this resolution within three months from the date of enforcement of this resolution.

3. To department of payment systems (Ashykbekov E. T.) in the procedure established by the legislation of the Republic of Kazakhstan to provide:

1) together with Legal department (Kasenov A. S.) 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 National Bank of the Republic of Kazakhstan 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.

4. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Sholpankulov B. Sh.

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

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of February 28, 2022 No. 11

Requirements to Rules of internal control for the purpose of counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction for payment institutes

Chapter 1. General provisions

1. These Requirements to Rules of internal control for the purpose of counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction for payment institutes (further – Requirements) are developed according to the subitem 6) of the paragraph of third of part two of Item 19 of the Regulations on National Bank of the Republic of Kazakhstan approved by the Presidential decree of the Republic of Kazakhstan of December 31, 2003 No. 1271 "About approval of the Provision and structure of National Bank of the Republic of Kazakhstan" and extend to payment institutes (further – the organizations).

2. The concepts applied in Requirements:

1) the beneficial owner - physical person:

which directly or indirectly possesses more than twenty five percent of shares in the authorized capital or placed (less exclusive and redeemed by society) shares of the client - the legal entity or foreign structure without formation of legal entity;

exercising control over the client otherwise;

for the benefit of which the client makes transactions with money and (or) other property;

2) faultless goodwill - availability of the facts confirming professionalism, conscientiousness including lack of the facts of committing by person of illegal actions (failure to act) which resulted in the insolvency which entailed involuntary liquidation of the financial organization, or to reference of bank to category of insolvent banks, lack of not removed or unspent conviction, including lack of the court resolution which took legal effect about application of criminal penalty in the form of deprivation of the right to hold leading employee position of the financial organization, bank and (or) insurance holding and to be the large member (large shareholder) of the financial organization for life, and also lack of the relations with the third parties (control and influence of the third parties) whose actions promoted legalization (washing) of income gained in the criminal way to financing of terrorism and financing of distribution of weapons of mass destruction, based on data of authorized body on financial monitoring.

3. Internal control for the purpose of counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction (further – POD/FT/FROMU) is performed by the organization for the purpose of:

1) ensuring accomplishment by the organization of requirements of the Law of the Republic of Kazakhstan "About counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction" (further – the Law on POD/FT);

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info