The Republic of Kazakhstan has a two-tier banking system.

Tier One Bank

The National Bank of the Republic of Kazakhstan is the central bank of Kazakhstan and presents the upper (first) tier of the banking system of Kazakhstan. The National Bank represents, within the limits of its authority, the interests of the Republic of Kazakhstan in the relationship with the central banks, with banks of other countries, in the international banks and other financial-credit organizations.

Second-tier banks

All banks operating in the country, except the

National Bank of Kazakhstan is the central bank of Kazakhstan. History The National Bank of Kazakhstan was established on the basis of the Kazakh Republican Bank of the State Bank of the USSR (since 1990 - the State Bank of the Kazakh SSR, since 1991 - the National State Ba ...

, represent the second tier of the banking system and are second-tier banks. The legal basis for operation of the second-tier banks is the law «On Banks and Banking in the Republic of Kazakhstan» from August 31, 1995, № 2443. According to this law, a second-tier bank in

Kazakhstan Kazakhstan, officially the Republic of Kazakhstan, is a transcontinental country located mainly in Central Asia and partly in Eastern Europe. It borders Russia to the north and west, China to the east, Kyrgyzstan to the southeast, Uzbeki ...

is a corporate entity which, irrespective of the form of ownership, carries on business for achieving its main goal of earning profits. Second-tier banks are entitled to open their subsidiary banks, branch and representative offices on the territory of Kazakhstan as well as outside of the territory of the country. Banks on April 13, 2022 there are 22 (10 of them are with foreign capital, the share of which is only 17.1%).

Development Bank of Kazakhstan

Development Bank of Kazakhstan JSC operates as a national development institution in the Republic of Kazakhstan. The company’s services include investment projects funding, export operations financing, interbank lending, clients operational servicing, and lease financing. It also offers various financial services, such as mezzanine, syndicated, interim, lease transactions, and project financing; lending of current activities; and provision of guarantees, as well as equity and capital participation.

Deposit Guarantee System

Kazakhstan Deposit Insurance Fund (the KDIF) was established by Resolution of the National Bank of the Republic of Kazakhstan Management Board No. 393 dated 15 November 1999 “On incorporation of «Kazakhstan Individuals’ Deposit Guarantee (Insurance) Fund». Individuals’ deposits placed in the second-tier banks of the

Republic of Kazakhstan Kazakhstan, officially the Republic of Kazakhstan, is a transcontinental country located mainly in Central Asia and partly in Eastern Europe. It borders Russia to the north and west, China to the east, Kyrgyzstan to the southeast, Uzbekis ...

, excluding non-interest bearing demand deposits placed with the Islamic banks. * Deposits in tenge are insured up to 10 million tenge per depositor per bank * Deposits in foreign currency are insured up to 5 million tenge per depositor per bank (in equivalent, foreign exchange rate applied as of the date of effect of the court ruling regarding forced liquidation of a deposit insurance system member bank) At present the Parliament of the Republic of Kazakhstan has approved the draft law which stipulates deposit coverage payouts on the individuals’ and individual entrepreneurs’ savings deposits up to the deposit coverage limit of 15 million tenge.

Population deposits

In August 2018 the number of deposits of individuals has reached the historic peak - 8.3 trillion tenges, 47% of the total volume of deposits.The volume of deposits of individuals reached a historic high of 8.38 trillion tenge
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References

External links

* {{DEFAULTSORT:Banks in Kazakhstan 01 Economy of Kazakhstan-related lists .

Banks A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Becaus ...