RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of September 17, 2022 No. 82

About modification and amendments in the resolution of Board of National Bank of the Republic of Kazakhstan of December 22, 2017 No. 251 "About approval of the Standard chart of accounts of financial accounting for the insurance (reinsurance) organizations, the Islamic insurance (reinsurance) organizations, societies of mutual insurance and branches of the insurance (reinsurance) organizations - nonresidents of the Republic of Kazakhstan, the Instruction for conducting financial accounting by the insurance (reinsurance) organizations, the Islamic insurance (reinsurance) organizations, societies of mutual insurance and branches of the insurance (reinsurance) organizations - nonresidents of the Republic of Kazakhstan"

The board of National Bank of the Republic of Kazakhstan DECIDES:

1. Bring in the resolution of Board of National Bank of the Republic of Kazakhstan of December 22, 2017 No. 251 "About approval of the Standard chart of accounts of financial accounting for the insurance (reinsurance) organizations, the Islamic insurance (reinsurance) organizations, societies of mutual insurance and branches of the insurance (reinsurance) organizations - nonresidents of the Republic of Kazakhstan, the Instruction for conducting financial accounting by the insurance (reinsurance) organizations, the Islamic insurance (reinsurance) organizations, societies of mutual insurance and branches of the insurance (reinsurance) organizations - nonresidents of the Republic of Kazakhstan and modification and amendments in some regulatory legal acts of the Republic of Kazakhstan concerning conducting financial accounting" (it is registered in the Register of state registration of regulatory legal acts at No. 16390) the following changes and amendments:

state preamble in the following edition:

"According to the subitem 63) of part two of article 15 of the Law of the Republic of Kazakhstan "About National Bank of the Republic of Kazakhstan", subitems 1) and 3-4) Items 6 of article 20 of the Law of the Republic of Kazakhstan "About financial accounting and the financial reporting" and the subitem 2) of Item 3 of article 16 of the Law of the Republic of Kazakhstan "About the state statistics" the Board of National Bank of the Republic of Kazakhstan DECIDES:

in the Standard chart of accounts of financial accounting for the insurance (reinsurance) organizations, the Islamic insurance (reinsurance) organizations, societies of mutual insurance and branches of the insurance (reinsurance) organizations - nonresidents of the Republic of Kazakhstan, approved by the specified resolution:

state Items 1 and 2 in the following edition:

"1. This Standard chart of accounts of financial accounting - nonresidents of the Republic of Kazakhstan (further – the Chart of accounts) is developed for the insurance (reinsurance) organizations, the Islamic insurance (reinsurance) organizations, societies of mutual insurance and branches of the insurance (reinsurance) organizations according to the subitem 63) of part two of article 15 of the Law of the Republic of Kazakhstan "About National Bank of the Republic of Kazakhstan", subitems 1) and 3-4) Items 6 of article 20 of the Law of the Republic of Kazakhstan "About financial accounting and the financial reporting", the subitem 2) of Item 3 of article 16 of the Law of the Republic of Kazakhstan "About the state statistics" and intended for group and the current reflection of financial statement elements in value term by the insurance (reinsurance) organizations, Islamic insurance (reinsurance) organizations, societies of mutual insurance (further – the organizations) on accounts of financial accounting for creation of the financial reporting and the current reflection of elements of the reporting under accounting data in value term by branches of the insurance (reinsurance) organizations - nonresidents of the Republic of Kazakhstan on accounts of financial accounting for creation of the reporting under accounting data.

2. In the Chart of accounts the concepts provided by the Law of the Republic of Kazakhstan "About financial accounting and the financial reporting" and international accounting standards are used.";

in Chapter 2:

in paragraph 1:

1130, 1130 01, 1130 02 and 1130 03 to state account names in the following edition:

"1130 the Current financial assets considered on depreciated cost

1130 01 The current financial assets considered on depreciated cost

1130 02 Discount on the acquired current financial assets considered on depreciated cost

1130 03 Award on the acquired current financial assets considered on depreciated cost";

1140, 1140 01, 1140 of 02, 1140 of 03, 1140 04 and 1140 05 to state account names in the following edition:

"1140 the Current financial assets carried at fair value through other comprehensive income

1140 01 The current financial assets carried at fair value through other comprehensive income

1140 02 Discount on the acquired financial assets carried at fair value through other comprehensive income

1140 03 Award on the acquired financial assets carried at fair value through other comprehensive income

1140 04 Positive fair value adjustment of the financial assets carried at fair value through other comprehensive income

1140 05 Negative fair value adjustment of the financial assets carried at fair value through other comprehensive income";

state the account name 1290 01 in the following edition:

"1290 01 Reserves (provisions) on receivables";

21, 1290 22, 1290 23 and 1290 24 to state account names 1290 in the following edition:

"1290 21 Reserves (provisions) on the loans granted clients

1290 22 Reserves (provisions) on the finance lease provided to clients

1290 23 Reserves (provisions) on the financial assets considered on depreciated cost

1290 24 Reserves (provisions) on the deposits placed in the banks of the second level and the organizations performing separate types of banking activities";

to exclude number and the account name 1290 41;

after account 1290 25 to add with account 1290 42 following of content:

"1290 42 Reserves (provisions) according to requirements for acquisition cash flows";

state the account name 1620 04 in the following edition:

"1620 04 Requirements for acquisition expenses for insurance contracts (reinsurance)";

after account 1620 04 to add with accounts 1620 05 and 1620 06 following contents:

"1620 05 Asset on the other cash flows relating to group of insurance contracts

1620 06 Assessment of future cash flows on reinsurance asset";

in paragraph 2:

2020, 2020 01, 2020 02 and 2020 03 to state account names in the following edition:

"2020 the Non-current financial assets considered on depreciated cost

2020 01 The non-current financial assets considered on depreciated cost

2020 02 Discount on the acquired non-current financial assets considered on depreciated cost

2020 03 Award on the acquired non-current financial assets considered on depreciated cost";

2030, 2030 01, 2030 of 02, 2030 of 03, 2030 04 and 2030 05 to state account names in the following edition:

"2030 the Non-current financial assets carried at fair value through other comprehensive income

2030 01 The non-current financial assets carried at fair value through other comprehensive income

2030 02 Discount on the acquired non-current financial assets carried at fair value through other comprehensive income

2030 03 Award on the acquired non-current financial assets carried at fair value through other comprehensive income

2030 04 Positive fair value adjustment of the non-current financial assets carried at fair value through other comprehensive income

2030 05 Negative fair value adjustment of the non-current financial assets carried at fair value through other comprehensive income";

after account 2050 to add with accounts of 2060 of 01, of 2060 of 02, of 2060 of 03, of 2060 04 and 2060 05 following content:

"2060 01 Best assessment of the expected cash flows on reinsurance asset

2060 02 Margin under agreements of reinsurance

2060 03 Reinsurance asset under the risk amendment on non-financial risk

2060 04 Margin indemnification component under agreements of reinsurance

2060 05 Assessment of future cash flows on reinsurance asset";

in paragraph 3:

after account 3390 07 to add with accounts of the 3390th 11, the 3390th 12, the 3390th 13, the 3390th 14, the 3390th 15, the 3390th 16, the 3390th 17, 3390 18 and 3390 19 following content:

"3390 11 Obligations on cash flows according to insurance contracts (reinsurance)

3390 12 The risk amendment on non-financial risk

3390 13 Loss component (according to obligations on cash flows according to insurance contracts (reinsurance)

3390 14 Loss component (under the risk amendment on non-financial risk)

3390 15 Obligations on the acquisition cash flows relating to group of insurance contracts

3390 16 Obligations on the other cash flows relating to group of insurance contracts

3390 17 Obligations on the arisen losses

3390 18 Insurance premiums according to insurance contracts

3390 19 Insurance premiums under the issued agreements of reinsurance";

state the account name 3390 45 in the following edition:

"3390 45 Accrued expenses on compensation to the overcautious person of recourse requirements and losses (subrogation)";

numbers and account names 3390 48, the 3390th 49, the 3390th 50, 3390 51 and 3390 52 to exclude;

in paragraph 4:

after account 4030 96 to add with accounts of the 4040th 11, the 4040th 12, the 4040th 13, the 4040th 14, the 4040th 15, the 4040th 16, 4040 17 and 4040 18 following content:

"4040 11 Best assessment of the expected cash flows

4040 12 Margin according to insurance contracts (reinsurance)

4040 13 The risk amendment on non-financial risk

4040 14 Loss component (by the best assessment of the expected cash flows)

4040 15 Loss component (under the risk amendment on non-financial risk)

4040 16 Margin under agreements of reinsurance

4040 17 Insurance premiums according to insurance contracts

4040 18 Insurance premiums under the issued agreements of reinsurance";

in paragraph 5:

state the account name 5440 in the following edition:

"5440 Reserve on revaluation of the financial assets carried at fair value through other comprehensive income";

after account 5460 to add with accounts 5470, 5480 and 5490 following contents:

"5470 Reserve on revaluation of the loans carried at fair value through other comprehensive income

5480 Provisions (provisions) under the expected and available credit losses on the securities carried at fair value through other comprehensive income

5490 Provisions under the expected and available credit losses on the loans carried at fair value through other comprehensive income";

in paragraph 6:

state the account name 6150 03 in the following edition:

"6150 03 Income on the securities carried at fair value through other comprehensive income";

state the account name 6240 01 in the following edition:

"6240 01 Income from recovery (cancellation) of reserves (provisions) created on the securities carried at fair value through other comprehensive income and considered on depreciated cost";

after account 6240 23 to add with account 6240 42 following of content:

"6240 42 Income from recovery (cancellation) of reserves (provisions) on impairment of acquisition cash flows";

after account 6280 09 to add with accounts of the 6280th 31, the 6280th 32, 6280 33 and 6280 34 following content:

"6280 31 Expense adjustment on loss component

6280 32 Financial incomes on reinsurance

6280 33 Income from reduction of the risk amendment by non-financial risk

6280 34 The income from depreciation of margin according to insurance contracts (reinsurance)";

state the account name 6280 41 in the following edition:

"6280 41 Insurance revenue (income from insurance)";

state the account name 6280 43 in the following edition:

"6280 43 Income connected with compensation of recourse requirements and losses (subrogation)";

numbers and account names 6280 45, the 6280th 46, the 6280th 47, the 6280th 48, the 6280th 49, the 6280th 50, the 6280th 51, the 6280th 52, 6280 53 and 6280 54 to exclude;

after account 6280 41 to add with accounts 6280 55 and 6280 56 following contents:

"6280 55 Income from reinsurance

6280 56 The income on forming of asset of reinsurance under the risk amendment on non-financial risk";

in paragraph 7:

after account 7310 10 to add with accounts 7310 11 and 7310 12 following contents:

"7310 11 Expenses on reduction of the risk amendment by non-financial risk

7310 12 Expenses in the form of component of loss of obligations on cash flows according to insurance contracts";

state the account name 7440 01 in the following edition:

"7440 01 Expenses on forming of reserves (provisions) on the securities carried at fair value through other comprehensive income and considered on depreciated cost";

after account 7440 23 to add with account 7440 24 following of content:

"7440 24 Expenses on forming of reserves (provisions) on impairment of acquisition cash flows";

numbers and account names 7440 41, the 7440th 42, the 7440th 43, 7440 44 and 7440 45 to exclude;

numbers and account names 7440 47, the 7440th 48, the 7440th 49, the 7440th 50, 7440 51 and 7440 52 to exclude;

state the account name 7470 06 in the following edition:

"7470 06 Expenses on the securities carried at fair value through other comprehensive income";

after account 7470 10 to add with accounts of the 7470th 31, the 7470th 32, the 7470th 33, the 7470th 34, the 7470th 35, 7470 36 and 7470 37 following content:

"7470 31 Insurance expenses in the form of loss component

7470 32 Financial expenses on insurance (reinsurance)

7470 33 Expenses on reduction of the risk amendment by non-financial risk

7470 34 Insurance expenses in the form of the risk amendment on non-financial risk

7470 35 Acquisition expenses

7470 36 Expenses in the form of depreciation of margin under agreements of reinsurance

7470 37 Depreciation expenses of the best assessment of the expected cash flows on reinsurance asset";

state the account name 7470 41 in the following edition:

"7470 41 Insurance expenses on payment";

state the account name 7470 44 in the following edition

"7470 44 Expenses on compensation to the overcautious person of recourse requirements and losses (subrogation)";

in Chapter 3:

in paragraph 1:

1130 02 and 1130 03 to state the name and the description of accounts of 1130 of 01, in the following edition:

"1130 01" current financial assets considered on depreciated cost" (active).

Appointment: accounting of nominal value of the current financial assets acquired by the organization and considered on depreciated cost.

On the debit of the account nominal value of the current financial asset acquired by the organization and considered on depreciated cost is carried out.

On the credit of the account write-off of nominal value of the current financial asset acquired by the organization in case of its repayment, transfer is carried out to other category, and also payment delay.

1130 02 "Discount on the acquired current financial assets considered on depreciated cost" (counteractive).

Appointment: accounting of the amounts of exceeding of nominal value of the current financial assets considered on depreciated cost over the cost their acquisitions (discount), adjustment amounts connected with recognition of interest incomes with use of effective interest rate method, adjustment amounts, connected with acquisition of financial assets at the non-market rate.

On the credit of the account are carried out the amount of exceeding of nominal value of the current financial asset considered on depreciated cost over the cost its acquisitions (discount), adjustment amount connected with recognition of interest incomes with use of effective interest rate method, adjustment amount, connected with acquisition of financial assets at the non-market rate.

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