Integrites has the honor to bring to your attention the following information, which we hope may be useful in your company activities.
The approved Rules of attributing the financial institutions to the category of fundamental financial institutions (hereinafter “The Rules”) determine the order of attributing the financial institutions to the category of fundamental financial institutions within the framework of macroprudential regulation.
The purport of the Rules accounts for additional nomenclature of such concepts as fundamental bank, fundamental infrastructural financial organization, as well as the concept of infrastructural financial organization with the scope of activities determined by the Rules.
The purpose of setting and highlighting the criteria for attributing the financial institutions to the category of fundamental financial institutions is the reduction and prevention of system risks within the financial system of the Republic of Kazakhstan.
We believe it is also worth stressing the fact that the second-tier banks and infrastructural financial organizations are also attributed to the category of fundamental financial institutions as provided by the Rules.
We hope that the above information will be useful for you.
For additional information, please contact our firm.
We will be happy to assist.