The Government of the Republic of Kazakhstan RESOLVES:
To amend Resolution No. 960 of the Government of the Republic of Kazakhstan dated September 14, 2004, "On Certain Issues of the Acquisition of Financial Services by State-Owned Enterprises on the Right of Economic Management and by Organizations in Which the State Owns a Controlling Stake (Participatory Interest in the Authorized Capital) of State-Owned Enterprises, and by amending paragraph 1 as follows:
"1. State bodies, with the exception of the National Bank of the Republic of Kazakhstan, which are state management bodies of state-owned enterprises on the basis of economic management and exercise the rights of ownership and use of controlling stakes (stakes in the authorized capital) of organizations in which the controlling stake (stakes in the authorized capital) belongs to the state (hereinafter referred to as Organizations), with the exception of natural monopoly entities, the State Social Insurance Fund Joint-Stock Company, and financial organizations for which prudential standards and requirements for the degree of asset diversification are established by the authorized body for regulation and supervision of the financial market and financial organizations, shall ensure that Organizations place temporarily available funds at their disposal in the following financial instruments:
1) Government securities of the Republic of Kazakhstan, including those issued in accordance with the laws of other states – up to 30 (thirty) percent for Organizations that, in accordance with the laws of the Republic of Kazakhstan, have the right to invest their funds in these government securities, with the exception of social entrepreneurship corporations;
up to 10 (ten) percent for social entrepreneurship corporations.
The restrictions on the volume of investment in government securities specified in this subparagraph do not apply to securities acquired by Organizations as the subject of reverse repo transactions concluded on the organized market with the participation of a central counterparty;
2) Securities issued by the following international financial institutions: International Bank for Reconstruction and Development; European Bank for Reconstruction and Development; Asian Development Bank; Islamic Development Bank; European Investment Bank; International Finance Corporation; Inter-American Development Bank; Bank for International Settlements; African Development Bank;
3) Government securities of countries with a credit rating of at least BBB on the Standard & Poor's scale or Baa3 on the Moody's Investors Service (hereinafter referred to as Moody's), or at least BBB on the Fitch Ratings scale;
4) Non-government securities of Kazakhstani issuers included in the list of the highest category of the stock exchange operating in the Republic of Kazakhstan;
5) non-government securities issued in accordance with the laws of foreign states by Kazakhstani issuers with a credit rating no lower than one level below the sovereign rating of the Republic of Kazakhstan;
6) non-government securities of foreign issuers with a credit rating no lower than AAA on the Standard & Poor's scale, Aaa1 on the Moody's scale, or no lower than AAA on the Fitch Ratings scale;
7) derivative securities, the underlying asset of which is the financial instruments specified in subparagraphs 1) - 6) of this paragraph;
8) deposits in foreign banks (with a credit rating of at least AAA on the Standard & Poor's scale or Aaa1 on the Moody's scale, or at least AAA on the Fitch Ratings scale) and deposit certificates issued by foreign banks (with a credit rating of at least AAA on the Standard & Poor's scale or Aaa1 on the Moody's scale, or at least AAA on the Fitch Ratings scale);
9) refined precious metals, subject to a license from the authorized government agency;
10) deposits of second-tier banks, as well as the National Postal Operator. Organizations, with the exception of social entrepreneurship corporations, in accordance with the procedure established by law, place temporarily free funds on deposits in at least 3 (three) second-tier banks, as well as the National Postal Operator, the amount of which in each of them, including the National Postal Operator, must not exceed 30 (thirty) percent of the amount of temporarily free funds that has accumulated on the date of its placement.
Социально-предпринимательская корпорация в установленном In accordance with the law, the Company places temporarily available funds on deposit with at least three (3) second-tier banks, as well as the National Postal Operator, the total amount of which must not exceed 10 (ten) percent of the amount of temporarily available funds as of the date of placement.
Temporarily available funds in the amount of up to five thousand (5,000) monthly calculation indices are placed on deposit with one second-tier bank, as well as the National Postal Operator;
11) clearing participation certificates;
12) bonds issued under securitization transactions, in accordance with the Law of the Republic of Kazakhstan "On Project Financing and Securitization." This subparagraph applies to quasi-public sector entities operating in the provision of financial services within the areas specified in Resolution No. 1095 of the Government of the Republic of Kazakhstan dated December 28, 2015, "On Approval of the List of Activities Carried Out by State-Owned Enterprises, Legal Entities in Which More Than Fifty Percent of Shares (Participatory Interests in the Authorized Capital) Are Owned by the State, and Persons Affiliated with Them."
This resolution shall enter into force upon the expiration of ten calendar days after the date of its first official publication.
Prime Minister
Republic of Kazakhstan O. Bektenov