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

of September 30, 2026 No. 138

About modification and amendments in some regulatory legal acts of the Republic of Kazakhstan concerning banking regulation

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

1. Approve the enclosed List of some regulatory legal acts of the Republic of Kazakhstan concerning banking regulation to which changes and additions are made.

2. To provide to department of methodology and prudential regulation of the financial organizations 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.

Approved by the Resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of September 30, 2026, No. 138

The list of some regulatory legal acts of the Republic of Kazakhstan concerning banking regulation to which changes and additions are made

1. Bring in the resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of April 14, 2026 No. 65 "About approval of Requirements to risk management system and internal control of banking conglomerate" (the following change is registered in the Register of state registration of regulatory legal acts at No. 38438):

in the subitem 2) of Item 2 change is made to the text in Kazakh, the text in Russian does not change.

2. Bring in the resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of April 16, 2026 No. 66 "About approval of Rules of the conclusion of transactions with the faces tied with bank, bank holding, bank branch - the nonresident of the Republic of Kazakhstan, the organization performing separate types of banking activities, the special relations" (it is registered in the Register of state registration of regulatory legal acts at No. 38456) the following changes:

in Rules of the conclusion of transactions with the faces tied with bank, bank holding, bank branch - the nonresident of the Republic of Kazakhstan, the organization performing separate types of the banking activities, the special relations approved by the specified resolution:

state Items 5 and 6 in the following edition:

"5. For the purposes of the subitem 5) of item 4 of article 50 of the Law on banks provision of preferential terms to the face tied with bank the special relations arises if the cost of the transaction or set of transactions of bank (for the current financial year) with the face tied with bank the special relations exceeds on acceptance date bank of the decision on transaction or set of the transactions interconnected among themselves:

0, ((zero whole one tenth) percent from equity of bank, except for transactions or set of transactions on share acquisition, shares, shares or other forms of equity in the organizations;

10 (ten) percent from equity of bank concerning transactions or set of transactions on share acquisition, shares, shares or other forms of equity in the organizations.

6. For the purposes of part one of Item 5 of article 50 of the Law on banks the bank is forbidden to make the transaction which cost in total exceeds on acceptance date bank of the decision on transaction:

0, (((zero whole two 100-th) percent from equity of bank, except for transactions on share acquisition, share, shares or other forms of equity in the organizations;

10 (ten) percent from equity of bank concerning the transaction on share acquisition, shares, shares or other forms of equity in the organizations.";

exclude Item 8;

in appendix:

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

"1) concerning the borrower (co-borrower) - physical person, having intention to obtain bank loan, the bank guarantee, not connected with implementation of business activity:

inability of the borrower (co-borrower) timely and in full to make loan payments, including on mortgage housing loan, according to the analysis of its income and expenses, solvency and its credit history revealed by results of assessment of financial condition of the borrower (co-borrower) from the point of view of its opportunity regularly and to timely make loan payments, including on mortgage housing loan;

insufficiency of the cash of the borrower (co-borrower) necessary for loan repayment, payment of the initial contribution for the dwelling, and also for covering of other expenses connected with transactions of purchase and sale of the dwelling and issue of mortgage housing loan;

absence at the borrower (co-borrower) of the education level, working experience, systematic employment in steadily developing and potentially profitable sector of economy allowing bank to draw conclusion on possibility of proper execution by the borrower (co-borrower) of obligations to bank;";

To exclude the comparative table of levels of rating agencies according to appendix in the text in Kazakh, the text in Russian does not change.

3. Bring in the resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of April 16, 2026 No. 67 "About approval of Rules of recognition by persons connected with bank, banking conglomerate, bank branch - the nonresident of the Republic of Kazakhstan the special relations" (it is registered in the Register of state registration of regulatory legal acts at No. 38454) the following amendments:

in Rules of recognition by persons connected with bank, banking conglomerate, bank branch - the nonresident of the Republic of Kazakhstan the special relations, approved by the specified resolution:

add Item 3 with the subitem 19) of the following content:

"19) legal entities whose hundred percent of voting shares (shares) directly or indirectly belong to National Investment Holding Bayterek, according to the Bargains Concluded within Implementation of the Law of the Republic of Kazakhstan " about the Republican Budget for 2026-2028 " for Financing of Acquisition of Agricultural Machinery of the Kazakhstan Production and (or) Assembly for the Subsequent Transfer to Leasing. joint-stock company;

add Item 5 with subitem 3-1) of the following content:

"3-1) independent director of the parent organization of banking conglomerate and member of banking conglomerate;".

4. Bring in the resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of April 20, 2026 No. 72 "About approval of Rules of implementation of investing activities of bank, branch of nonresident bank of the Republic of Kazakhstan" (it is registered in the Register of state registration of regulatory legal acts at No. 38501) the following changes:

in the Rules of implementation of investing activities of bank, branch of nonresident bank of the Republic of Kazakhstan approved by the specified resolution:

state Item 3 in the following edition:

"3. Bank with the basic banking license, bank with the universal banking license, Islamic bank acquire shares, shares, shares or other forms of equity in the organizations specified in part one of Item 2 of article 23 of the Law on banks in case of observance of the following conditions:

1) lack of signs of insolvency of the organization (excess of obligations over asset cost, other factors of insolvency determined by internal documents of bank).

2) the organization and its large participants (large shareholders) are not registered in the offshore zones specified in the resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of March 20, 2026 to No. 15 "About establishment of the List of offshore zones for the purposes of banking and insurance activity, activities of professional participants of the security market and other licensed types of activity in the security market, activities of the joint-stock investment funds and organization activity performing microfinancial activities".

The requirement of the subitem 1) of part one of this Item does not extend to cases of share acquisition, share, shares or other forms of equity in the organizations with insolvency signs (excess of obligations over asset cost, other factors of insolvency determined by internal documents of bank) on condition of acceptance by the board of directors of bank based on the conclusion of division on risk management of the decision on implementation of such investment, and also weighing of such investments on degree of credit risk according to Item 119-1 of the Table of the assets of bank weighed on degree of credit risk of investments according to appendix 4 to the Prudential standard rates and limits obligatory to observance by banks with the universal banking license, banks with the basic banking license, to their extreme values and techniques of calculations, the approved resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of April 28, 2026 No. 85 (further - Prudential standard rates) (it is registered in the Register of state registration of regulatory legal acts at No. 38587).

At the same time, the cumulative amount of investments into shares, shares, shares or other forms of equity in the organizations specified in the subitem 1) to part one of this Item constitutes no more than 1 (one) percent of the size of equity of the bank on reporting date calculated according to Prudential standard rates.";

state Item 12 in the following edition:

"12. Transactions with the derivative financial instruments specified in Item 11 of Rules are made in the unorganized market of securities in case of observance of one of the following conditions:

1) counterpartner - the nonresident of the Republic of Kazakhstan is the organization with rating not below "VVV-" on the international scale of Standard & Poor rating agency "s (Standard энд Purs) or not below "Vaa3" on the international scale of Moody rating agency" s Investors Service (Mudis Investors Service) or not below "VVV-" on the international scale of Fitch rating agency (Features);

2) counterpartner - the resident of the Republic of Kazakhstan is the organization with rating not below "VV-" on the international scale of Standard & Poor rating agency "s (Standard энд Purs) or not below "Va3" on the international scale of Moody rating agency" s Investors Service (Mudis Investors Service) or not below "VV-" on the international scale of Fitch rating agency (Features), or rating assessment not below "kzBBB" on national scale of the above-stated rating agencies;

3) there are quotations on purchase and (or) sale in information analytical systems of Bloomberg (Bloomberg) or Reuters (Reuters), or in case of lack of such quotations there are at least three quotations from three different counterpartners having rating "VVV-" on the international scale of the Standard & Poor agency "is not lower than s (Standard энд Purs) or not below "Vaa3" on the international scale of Moody rating agency" s Investors Service (Mudis Investors Service) or not below "VVV-" on the international scale of Fitch rating agency (Features);

4) the underlying asset of derivative financial instruments is allowed to the address in the organized market of securities of the Republic of Kazakhstan and (or) is in free circulation on the international stock exchanges specified in the List of organizers of the biddings recognized by the international stock exchanges according to appendix 1 to Rules;

5) by provision by the auditing organization performing audit of bank with the universal banking license, Islamic bank, bank branch - the nonresident of the Republic of Kazakhstan, the report providing expression of positive opinion of auditing organization about:

techniques of assessment of the derivative financial instrument;

the assumptions used in case of cost determination of the derivative financial instrument including information on the assumptions made concerning assessment of credit losses, interest rates or discount rates;

results of stress testing, sensitivity analysis.";

state appendix 2 in edition according to appendix 1 to the List of some regulatory legal acts of the Republic of Kazakhstan concerning banking regulation to which changes and additions are made (further - the List).

5. Bring in the resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of April 20, 2026 No. 73 "About establishment of prudential standard rates and limits for branches of nonresident banks of the Republic of Kazakhstan, their extreme values and techniques of calculations, including procedure for forming of assets of branches of the nonresident banks of the Republic of Kazakhstan accepted as reserve and their minimum size" (it is registered in the Register of state registration of regulatory legal acts at No. 38502) the following changes and amendments:

state Item 1 in the following edition:

"1. Set the following prudential standard rates and limits for branches of nonresident banks of the Republic of Kazakhstan (except for branches of Islamic nonresident banks of the Republic of Kazakhstan), including branches of banks - the nonresidents of the Republic of Kazakhstan with the universal banking license performing Islamic banking activities:

1) prudential standard rates:

coefficient of sufficiency of the assets accepted as reserve which value makes 8 (eight) percent taking into account the conservation buffer - 10 (ten) percent;

the maximum extent of risk on one borrower whose value makes:

for borrowers, being the faces tied with branch of nonresident bank of the Republic of Kazakhstan the special relations - 0,10;

for other borrowers - 0,25 (including no more 0,10 on blank loans, unsecured contingent obligations before the borrower or for the borrower for benefit of the third parties on whom the branch of nonresident bank of the Republic of Kazakhstan has requirements to the borrower within the current and 2 (two) next months according to obligations of the corresponding borrowers, except for requirements to residents of the Republic of Kazakhstan with the rating of the Standard & Poor agency "s (Standard энд Purs) or the rating of similar level of Moody rating agencies" s Investors Service (Mudis Investors Service) and Fitch (Features) is no more than 1 (one) Item lower than the sovereign rating of the Republic of Kazakhstan and to nonresidents of the Republic of Kazakhstan with rating not below "And" the Standard & Poor agencies "s (Standard энд Purs) or the rating of similar level of Moody rating agencies" s Investors Service (Mudis Investors Service) and Fitch (Features);

for Development Bank of Kazakhstan joint-stock company - 0,5;

liquidity rates which minimum values make:

k 4, the k4th - and - 0,3;

k4-1a k4-1, - 1;

k4-2a k4-2, - 0,9;

k4-3a k4-3, - 0,8;

k4-4a k4-4, - 1;

k4-5a k4-5, - 0,9;

k4-6a k4-6, - 0,8;

coverage ratios of liquidity and net stable funding which minimum values make:

liquidity coverage ratio:

till January 1, 2022 - 0,9;

since January 1, 2022 - 1;

coefficient net stable funding - 1;

capitalization of branch of nonresident bank of the Republic of Kazakhstan to obligations to nonresidents of the Republic of Kazakhstan which maximum value makes 1;

coefficient on placement of part of means of branch of nonresident bank of the Republic of Kazakhstan in internal assets which minimum value makes 1;

the minimum size of the allocated assets of branch of the nonresident bank of the Republic of Kazakhstan with the universal banking license performing Islamic banking activities for implementation of Islamic banking activities which value makes 1 000 000 000 (one billion) tenges;

2) additional regulations, obligatory to observance:

the minimum size of the assets accepted as reserve which value makes 20 000 000 000 (twenty billion) tenges;

3) limits:

limits of open foreign exchange position which values do not exceed:

the limit of open foreign exchange position (long and short) on foreign currencies of the countries having sovereign rating is not lower "And" the Standard & Poor agencies "than s (Standard энд Purs) or the rating of similar level of Moody rating agencies" s Investors Service (Mudis Investors Service) both Fitch (Features), and to currency "euro", and also the affined precious metals - 12,5 (twelve whole five tenth) percent of size of the assets accepted as reserve;

the limit of open foreign exchange position (long and short) on foreign currencies of the countries having sovereign rating is lower "And" the Standard & Poor agencies "than s (Standard энд Purs), or the rating of similar level of Moody rating agencies" s Investors Service (Mudis Investors Service) and Fitch (Features) - 5 (five) percent of size of the assets accepted as reserve;

limit of currency net position in the amount of - 25 (twenty five) percent of size of the assets accepted as reserve;

limit on the relation of idle loans to the total amount of loan portfolio without the created reserves - no more than 10 (ten) percent;

limit on transaction of repo with securities:

no more than 35 (thirty five) percent from cumulative obligations since January 1, 2026;

no more than 25 (twenty five) percent from cumulative obligations since July 1, 2026;

limit on increase in loans with overdue debt of principal debt and (or) the added remuneration from 61 (sixty one) to 90 (ninety) calendar days - no more than 5 (five) percent within 6 (six) consecutive months without the created reserves on them;

limit on increase in loans with overdue debt of principal debt and (or) the added remuneration over 90 (ninety) calendar days - no more than 5 (five) percent within 6 (six) consecutive months without the created reserves on them;

limit on increase in share of idle receivables in cumulative receivables - no more than 50 (fifty) percent from cumulative receivables;

the limit on decrease in profit ratio of assets - is at least 0,2 (zero whole two tenth) percent.";

in Item 2:

1) to state the paragraph of the eighth of the subitem in the following edition:

"k4 - 0,3;";

state Item 3 in the following edition:

"3. For the purposes of calculation of prudential standard rates and limits for branches of nonresident banks of the Republic of Kazakhstan (including branches of Islamic nonresident banks of the Republic of Kazakhstan) the following concepts are used:

1) стейблкоин - digital financial asset as which underlying asset the money issued, placed, introduced into circulation acts and settled according to the procedure and on the conditions provided by the resolution of Board of National Bank of the Republic of Kazakhstan of April 10, 2026 No. 39 "About approval of Rules of release of digital financial assets, their placement, turnover (address) and repayment" (it is registered in the Register of state registration of regulatory legal acts at No. 38405);

2) digital financial assets - digital assets as which underlying asset financial instruments (including securities, including derivative securities, derivative financial instruments, other digital financial asset), financial asset, property rights (requirements), goods and (or) other property, except for money act;

3) digital financial instruments - the financial instruments issued in electronic and digital form on digital platform of the operator of platform of digital financial assets.";

To state the extreme values of prudential standard rates and limits for branches of nonresident banks of the Republic of Kazakhstan (including branches of Islamic nonresident banks of the Republic of Kazakhstan) approved by the specified resolution in edition according to appendix 2 to the List;

in Techniques of calculations of prudential standard rates and limits for branches of the nonresident banks of the Republic of Kazakhstan (including branches of Islamic nonresident banks of the Republic of Kazakhstan) approved by the specified resolution:

state Item 1 in the following edition:

"1. These Techniques of calculations of prudential standard rates and limits (including branches of Islamic nonresident banks of the Republic of Kazakhstan) (further - Techniques) are developed for branches of nonresident banks of the Republic of Kazakhstan in compliance by part three of item 4 of article 72 of the Law of the Republic of Kazakhstan "About banks and banking activity in the Republic of Kazakhstan" (further - the Law on banks) and establish techniques of calculations of prudential standard rates and limits for branches of nonresident banks of the Republic of Kazakhstan (including branches of Islamic nonresident banks of the Republic of Kazakhstan).

For the purposes of Techniques as branch of nonresident bank of the Republic of Kazakhstan it is understood including the branch of nonresident bank of the Republic of Kazakhstan having the universal banking license, performing Islamic banking activities if other is not provided by Techniques.";

add with Item 12-1 of the following content:

"12-1. The funds raised under the agreement on the investment deposit within Islamic financing are not guaranteed by the branch of nonresident bank of the Republic of Kazakhstan with the universal banking license performing Islamic banking activities, and any losses from investments are incurred by holders of investment deposits, except as specified, when such losses arose because of branch of the nonresident bank of the Republic of Kazakhstan with the universal banking license performing Islamic banking activities. The commercial risk on such assets does not require creation of the assets accepted as reserve for branch of the nonresident bank of the Republic of Kazakhstan with the universal banking license performing Islamic banking activities. The assets financed by the funds raised under the agreement on the investment deposit are excluded from calculation of the assets weighed on risk degree.";

state Item 51 in the following edition:

"51. The extent of risk on one borrower (including branch of Islamic nonresident bank of the Republic of Kazakhstan) is calculated by the following formula:

RRO = ZVDTs + UVO + SA + PS + SFOF + To + KS - P - IDES, where:

RRO - the extent of risk on one borrower;

ZVDTs - requirements in the form of loans, deposits, receivables, securities (except for the investments specified in Item 5 of Techniques), digital financial instruments, digital financial assets;

UVO - requirements in the form of the contingent and possible obligations calculated according to the Table of the contingent and possible obligations of branch of nonresident bank of the Republic of Kazakhstan (including branch of Islamic nonresident bank of the Republic of Kazakhstan) weighed on degree of credit risk according to appendix 4 to Techniques;

SA - requirements in the form of the securitized assets relating to borrowers on whom the branch of nonresident bank of the Republic of Kazakhstan (including branch of Islamic nonresident bank of the Republic of Kazakhstan) has no written confirmation of authorized body on application of the framework approach of securitization;

PS - requirements in the form of securitization line items;

SFOF - requirements in the form of the swaps, futures, options, the forwards weighed on degree of credit risk calculated as the amount of market value of the specified financial instruments and credit risk on them.

The credit risk on swap transactions, the future, the option and the forward is calculated as the work of nominal value of the specified financial instruments on the coefficient of credit risk specified in the Table of coefficients of credit risk for derivative financial instruments (as a percentage) according to appendix 5 to Techniques and determined by repayment period of the specified financial instruments.

Market value (replacement cost) of financial instruments specified in this Item represents:

according to transactions on purchase - the size of excess of the current market value of the financial instrument over the nominal contractual value of this financial instrument. If the current market value of the financial instrument is less or is equal to its nominal contractual value, market value (replacement cost) is equal to 0 (zero);

according to transactions for sale - the size of excess of nominal contractual value of the financial instrument over the current market value of this financial instrument. If the nominal contractual value of the financial instrument is less or is equal to its current market value, market value (replacement cost) is equal to 0 (zero).

The replacement cost is determined by dual currency financial instruments (financial instruments on which the requirement and the obligation are expressed in different foreign currencies) as the size of excess of tengovy equivalent of requirements over tengovy equivalent of the obligations determined by rate for date of creation of the reporting. If the size of tengovy equivalent of requirements is less or is equal to tengovy equivalent of obligations, market value (replacement cost) is equal to 0 (zero).

The nominal contractual value of financial instruments specified in this Item represents the cost of financial instruments at which they are reflected for date of the conclusion of transactions in the corresponding accounts of financial accounting. The currency on which at branch of nonresident bank of the Republic of Kazakhstan (including branch of Islamic nonresident bank of the Republic of Kazakhstan) requirements are created is accepted to the nominal contractual value of dual currency financial instruments.

The sold options do not join in the extent of risk on one borrower;

To - requirements in the form of loans (credits) for transactions of securitization with special finance company of Fund of Stressful Assets joint-stock company;

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