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

of March 14, 2022 No. 21

About introduction of amendments to the resolution of Board of National Bank of the Republic of Kazakhstan of November 12, 2019 No. 188 "About approval of Rules of forming of risk management system and internal control for banks of the second level, branches of nonresident banks of the Republic of Kazakhstan"

Board of the Agency of the Republic of Kazakhstan on regulation and development of the DECIDES: financial market

1. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of November 12, 2019 No. 188 "About approval of Rules of forming of risk management system and internal control for banks of the second level, branches of nonresident banks of the Republic of Kazakhstan" (it is registered in the Register of state registration of regulatory legal acts at No. 19632) the following changes:

in Rules of forming of risk management system and internal control for banks of the second level, branches of the nonresident banks of the Republic of Kazakhstan approved by the specified resolution:

state Item 2 in the following edition:

"2. In Rules the following concepts are used:

1) risk of information technologies - probability of emergence of damage owing to refusal (functioning violation) of the information and communication technologies operated by bank;

2) risk of information security - probable emergence of damage owing to violation of confidentiality, deliberate violation of integrity or availability of data assets of bank;

3) authorized collegiate organ of bank - the board of directors, committee in case of the board of directors, board, committee under board;

4) reputation risk - probability of emergence of losses, non receipt of the planned income in result of narrowing of client base, decrease in other indicators of development owing to forming in the society of negative idea of reliability of bank, quality of the services rendered to them or nature of activities of bank in general;

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