Output of permission on voluntary reorganization of bank (banking holding)
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Notification of the issuance of a permit for the voluntary reorganization of a bank (bank holding) or a reasoned response on refusal to provide a public service with a copy of the resolution of the Board of the Service provider attached.
Grounds for Refusal to Provide the State Service for Issuance of Authorization by the Authorized Body for Voluntary Reorganization of a Bank (Banking Holding Company):
1) absence of the relevant resolutions of the supreme governing bodies of the banks (banking holding companies) subject to reorganization;
2) violation of the interests of depositors as a result of the proposed reorganization;
3) violation, as a result of the proposed reorganization, of the prudential standards and/or limits established by the authorized body, as well as the macroprudential standards and/or limits established by the National Bank of the Republic of Kazakhstan;
4) violation, as a result of the proposed reorganization, of the requirements of the legislation of the Republic of Kazakhstan in the field of competition protection.
Grounds for Refusal to Provide the State Service for Issuance of Authorization for Voluntary Reorganization of a Bank through Conversion into an Islamic Bank:
1) failure to remedy the comments of the authorized body concerning the submitted documents within the period specified by the authorized body;
2) non-compliance of the action plan for the conversion of the bank into an Islamic bank with the requirements provided for by Article 110 of the Law on Banks;
3) non-compliance of the development strategy for Islamic banking operations with the requirements of the authorized body concerning the risk management and internal control system;
4) the financial forecast of the consequences of converting the bank into an Islamic bank indicates a deterioration in the bank’s financial condition as a result of such conversion;
5) violation by the bank and/or banking conglomerate of prudential standards and/or limits and/or the imposition on the bank of an administrative penalty for an administrative offense provided for by Parts 6 and 8 of Article 213 and Article 227 of the Code of the Republic of Kazakhstan on Administrative Offenses, during the three consecutive calendar months preceding the date of submission of the application for authorization to convert the bank into an Islamic bank;
5) violation, as a result of the proposed conversion of the bank into an Islamic bank, of the lawful interests of the bank’s depositors and other creditors.
- appeal;
- initiative of an administrative body or official.
General requirements for the appeal
The appeal submitted in hard copy or electronic form shall indicate:
- Full name, IIN, postal address of a natural person, BIN of a legal entity;
- name of administrative body, official to whom the appeal is submitted;
- the essence of an appeal;
- date of filing an appeal;
- signature of the applicant or his representative;
- other information provided for by legislation of the Republic of Kazakhstan.
If the administrative procedure is on a paid basis, the applicant must submit a document confirming the payment.
Source: Administrative Procedural Code of Republic of Kazakhstan,
The Law of the RK "On Public services"
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