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

of April 15, 2006 No. 94

About approval of Methodical recommendations about the organization of risk management systems and internal control in bank holdings

For the purpose of forming in bank holdings of adequate risk management system and internal control the Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations (further - the Agency) DECIDES:

1. Approve the enclosed Methodical recommendations about the organization of risk management systems and internal control in bank holdings.

2. This resolution becomes effective from the date of its acceptance.

3. To department of strategy and analysis (Edenbayev E. S.) in seven-day time from the date of acceptance to bring this resolution to the attention of the interested divisions of the Agency, banks of the second level, Consolidation of legal entities "Association of financiers of Kazakhstan".

4. To department of the international relations and public relations (Pernebayev T. Sh.) take measures to the publication of this resolution in mass media of the Republic of Kazakhstan.

5. To impose control of execution of this resolution on the vice-chairman of the Agency Bakhmutova E. L.

Approved by the Resolution of Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations of April 15, 2006 No. 94

Methodical recommendations about the organization of risk management systems and internal control in bank holdings

These Methodical recommendations are developed according to the Law of the Republic of Kazakhstan "About banks and banking activity in the Republic of Kazakhstan" and are intended for preparation by persons wishing to become bank holding of the documents confirming availability of risk management systems and internal control including concerning the risks connected with activities of the affiliated organization.

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