AIFC Rules on Currency Regulation and Provision of Information in the AIFC (full text)

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AIFC Rules on Currency Regulation and Provision of Information in the AIFC

  1. AIFC RULES No. 6 of 2021

    1. General Provisions
    1.1. These rules are the Rules on Currency Regulation and Provision of Information on Currency Transactions in the AIFC (hereafter, the Rules).
    1.2. These Rules commence on December 1, 2021.
    1.3. These Rules have been developed in furtherance of paragraphs 3 and 5 of Article 5 of the Constitutional Statute of the Republic of Kazakhstan “On the Astana International Financial Centre” No 438-V ZRK of December 7, 2015.
    1.4. The provisions of these Rules apply to:
    (a) AIFC participants;
    (b) AIFC banks;
    (c) residents and non-residents of RK carrying out transactions with AIFC participants or using bank accounts opened in AIFC banks;
    (d) STBs of RK to the extent of transactions regulated by these Rules.
    Transactions that are not regulated by these Rules are carried out by STBs of RK in accordance with the legislation of RK and by AIFC banks in accordance with the Acting Law of the AIFC.
    1.5. Definitions
    1.5.1. Schedule 1 (Terms and Definitions) contains definitions of the key terms used in these Rules.
    1.5.2. Other terms and definitions used in these Rules and not defined by Schedule 1 to these Rules are used in accordance with the definitions stipulated by the Acting Law of the AIFC and the legislation of RK.
    1.6. Objectives
    The Rules define:
    (a) conditions and procedure for currency transactions related to the provision of financial services by AIFC participants;
    (b) conditions and procedure for currency transactions related to the provision of professional services by AIFC participants;
    (c) conditions and procedure for currency transactions on the territory of the AIFC that do not fall under subparagraphs (a) and (b) of this paragraph;
    (d) list of the financial and professional services provided by AIFC participants to residents of RK that are not AIFC participants.

    2. Currency Residency in the AIFC
    2.1 Currency Residency
    For the purposes of these Rules:
    (a) AIFC participants are recognised as residents;
    (b) natural and legal entities are recognised as residents in accordance with terms and definitions given in Schedule 1;
    (c) natural and legal entities are recognised as non-residents in accordance with terms and definitions given in Schedule 1.
    3. Rights of AIFC participants, AIFC Bodies and their organisations. Transactions in the AIFC
    3.1 Rights of AIFC participants, AIFC Bodies and their organisations
    3.1.1 Unless otherwise prohibited under the Acting Law of the AIFC and (or) the legislation of RK, AIFC participants have the right to provide financial and related services to residents that are not AIFC participants only in accordance with Schedule 2 to these Rules.
    3.1.2 AIFC participants (except for the AIFC banks), AIFC Bodies and their organisations have the right to:
    (a) open bank accounts in foreign banks in any currency and make payments and money transfers using such accounts, subject to the requirements specified under the Acting Law of the AIFC and (or) the legislation of RK;
    (b) open bank accounts in AIFC banks (except Islamic banks) in foreign currency only and make payments and money transfers using such accounts, subject to the requirements specified under the Acting Law of the AIFC;
    (с) open bank accounts in STBs of RK or in Islamic banks of the AIFC in any currency and make payments and money transfers using such accounts, subject to the requirements specified under the Acting Law of the AIFC and (or) the legislation of RK.
    3.1.3 AIFC banks, including Islamic banks of the AIFC, have the right to:
    (а) open bank accounts in other banks, including foreign banks, and transfer own funds using such bank accounts in national or foreign currency, subject to the requirements specified under the Acting Law of the AIFC and the legislation of RK;
    (b) open bank accounts for residents that are AIFC participants and non-residents, subject to the requirements of subparagraph (b) of paragraph 3.1.4 of these Rules and make payments and (or) money transfers using such accounts, subject to the requirements set out in these Rules;
    (с) open correspondent accounts in the STBs of RK in accordance with the procedure established by the legislation of RK and carry out transactions using such correspondent accounts subject to the requirements set out in these Rules and (or) the legislation of RK;
    (d) open savings (deposit) accounts in foreign currency for non-residents, and AIFC participants the controlling shareholder (controlling shareholders) of which is non-resident;
    (e) carry out transactions envisaged by Schedule 4 to these Rules through their correspondent accounts in national currency in STBs of RK.
    3.1.4 AIFC banks (except Islamic banks of the AIFC) are prohibited to:
    (a) open bank accounts in the national currency for residents, including AIFC participants and nonresidents;
    (b) open savings (deposits) accounts for residents, including AIFC participants, except for the case specified in subparagraph (d) of paragraph 3.1.3;
    (c) carry out transactions of residents related to export or import of goods (works, services), and (or) transactions subject to assignment of registration number in accordance with the currency legislation of
    RK;
    (d) carry out exchange transactions under instructions of clients using national currency, except for the cases of executing the instructions of clients as part of transactions set out in Schedule 4 to these Rules;
    (e) make payments and (or) money transfers with respect to the services which are, under the Acting Law of the AIFC and (or) the legislation of RK, prohibited to be provided by AIFC participants to residents that are not AIFC participants;
    (f) provide services to residents that are not AIFC participants, the provision of which by AIFC banks is prohibited in accordance with the Acting Law of the AIFC and (or) the legislation of RK; and
    (g) carry out transactions through correspondent accounts in the national currency in STBs of RK that are not in the list set out in Schedule 4 to these Rules.
    3.1.5 Islamic banks of the AIFC are prohibited to:
    (a) carry out transactions of residents related to export or import of goods (works, services) and (or) transactions subject to assigning of registration number in accordance with the currency legislation of the RK;
    (b) carry out exchange transactions under instruction of clients using the national currency;
    (c) make payments and (or) transfers of clients’ money for the services not related to Islamic financing;
    (d) provide services to residents that are not AIFC participants, the provision of which by Islamic banks of the AIFC is prohibited in accordance with the Acting law of the AIFC and (or) the legislation of RK.
    3.2 Transactions of AIFC participants
    3.2.1 Transactions between AIFC participants are carried out in national or foreign currency, subject to the requirements set out in these Rules.
    3.2.2 Transactions between AIFC participants (except AIFC banks) and non-residents are carried out in any currency at the discretion of the parties in accordance with the requirements specified under the Acting Law of the AIFC and (or) the legislation of RK.
    3.2.3 Transactions between AIFC participants and residents that are not the AIFC participants are carried out in national or foreign currency in accordance with the requirements specified under the Acting Law of the AIFC and (or) the legislation of RK.
    3.3 Provision of financial services by AIFC participants
    3.3.1 AIFC banks provide financial services to residents that are not AIFC participants in accordance with the list of financial services set out in Schedule 2 to these Rules, subject to the Acting Law of AIFC and (or) the legislation of RK.
    3.3.2 AIFC participants, except AIFC banks, have the right to provide financial services to other AIFC participants and non-residents in accordance with their AFSA licence in national or foreign currency, subject to the following requirements:
    – financial services to be rendered in the national currency are provided using the bank accounts of AIFC participants opened in STBs of RK;
    – financial services to be rendered in foreign currency are provided using the bank accounts of AIFC participants opened in AIFC banks or STBs of RK.
    3.3.3 AIFC participants, (except for the AIFC banks), provide financial and related services to residents that are not AIFC participants in accordance with the list of financial services and in the currency set out in Schedule 2 to these Rules, subject to the Acting Law of the AIFC and (or) the legislation of RK, and in compliance with the following requirements:
    – financial and related services to be rendered in the national currency are provided using the bank accounts of AIFC participants opened in STBs of RK;
    – financial and related services to be rendered in foreign currency are provided using the bank accounts of AIFC participants opened in AIFC banks or STBs of RK.
    3.4 Provision of professional services by AIFC participants
    3.4.1 AIFC participants provide professional services to other AIFC participants and non-residents in accordance with the list approved by AFSA, in any currency, subject to the following requirements:
    – professional services to be rendered in the national currency are provided using the bank accounts of AIFC participants opened in STBs of RK;
    – professional services to be rendered in foreign currency are provided using the bank accounts of AIFC participants opened in AIFC banks or STBs of RK.
    3.5 AIFC participants (except AIFC banks) carry out transactions related to export or import of goods (works, services), exchange transactions using the national currency and transactions subject to assignment of registration number in accordance with the currency legislation of the RK, using bank accounts of AIFC participants opened in STBs of RK only.
    3.6 AIFC participants carry out transactions with residents that are not AIFC participants in accordance with these Rules and (or) the currency legislation of RK.
    3.7 AIFC participants have the right to provide professional services in foreign currency to residents that are not AIFC participants, only in accordance with the list set out in Schedule 3 to these Rules.
    4. Payments and (or) money transfers on transactions of residents and non-residents in the AIFC
    4.1 Payments and (or) money transfers on foreign exchange transactions of AIFC participants (except AIFC banks) are carried out through bank accounts in AIFC banks and (or) the STBs of RK in compliance with the conditions specified by the Acting Law of the AIFC and the legislation of RK.
    4.2 The AIFC bank transfers money of AIFC participants from their accounts in the AIFC bank to their accounts in a STB of RK, as well as from their accounts in the STB of RK to their accounts in the AIFC bank in foreign currency.
    4.3 Payments and (or) money transfers for client transactions are made in accordance with the following conditions:
    (a) The AIFC bank requests from the client the following identifying documents and information:
    (i) currency contract (for transactions in the equivalent of over USD 10,000);
    (ii) BIN;
    (iii) if the client is a legal entity or an organisation that are not legal entities – documents defining the country of registration and the founders of the entity or organisation, if these documents have not been submitted or have been changed.
    (b) The AIFC bank must have sufficient identification information about the client to determine the client’s residency, link to the AIFC public register and, if applicable, client’s status as an AIFC participant;
    (c) The AIFC bank must have sufficient information about the transaction or operation for which the payment and (or) transfer of money is carried out to determine matters, including, but not limited to:
    (i) the country of registration or residence of the payer and beneficiary;
    (ii) the sender of the payment and (or) money transfer and its ultimate beneficiary;
    (iii) the affiliation of the payer and the beneficiary (for the allocation of intra-corporate transfers and payments between affiliated parties);
    (iv) the economic sector for the payer and the beneficiary; (v) the purpose of the payment.
    (d) The AIFC bank must refuse to make a payment and (or) to transfer money to the client if:
    (i) the payment and (or) money transfer is made in the national currency (for the AIFC banks that are not Islamic banks);
    (ii) the payment and (or) money transfer is made in the national currency and is not in respect of provision of Islamic finance services (for Islamic banks of the AIFC);
    (iii) the payment and (or) money transfer is made under the transactions stipulated by paragraphs
    3.5 and 4.4 of these Rules;
    (iv) the payment and (or) transfer of money contravenes the Acting Law of the AIFC and (or) the legislation of RK.
    4.4 Residents that are not AIFC participants, are not entitled to carry out, through AIFC banks, currency transactions related to export or import of goods (works, services), exchange transactions using the national currency, and transactions subject to assignment of registration number in accordance with the currency legislation of RK. These transactions are carried out solely through the STBs of RK or foreign banks to the extent permitted by the currency legislation of RK.
    5 Exchange transactions in the AIFC
    5. A purchase and (or) sale of foreign currency can be carried out only through AIFC banks or STBs of RK, subject to the following requirements:
    (a) the purchase or sale of non-cash foreign currency is carried out on the basis of a request indicating the purpose of the purchase or sale;
    (b) the purchase or sale of non-cash foreign currency for the national currency is carried out solely through STBs of RK;
    (c) the purchase or sale of non-cash foreign currency for other non-cash foreign currency is carried out through AIFC banks or STBs of RK;
    (d) purchase or sale of foreign currency in cash is carried out through STBs of RK or through legal entities carrying out the transactions solely through exchange offices on the basis of a NBRK licence for exchange transactions with foreign currency in cash, in accordance with the procedure established by the legislation of RK.
    6. Provision of information on currency transactions in the AIFC for the purposes of currency regulation
    6.1 The list and procedure for providing information on transactions carried out on the territory of the AIFC and on transactions of AIFC participants carried out outside the AIFC is established in accordance with Schedule 5 to these Rules.
    7. Exchange of information between the AIFC and NBRK bodies
    7.1 Procedure for information interaction
    The procedure for exchanging information on the matters related to currency transactions carried out in the AIFC is determined in accordance with Schedule 5 to these Rules.
    8. Confidentiality
    Any commercial, banking and other information, protected by the Acting Law of AIFC, that AIFC participants, their employees and agents became aware of while carrying out the transactions both on their own behalf and on behalf of other persons must be kept secret.
    9. Responsibility for Rules contravention
    9.1 Contravention
    An AIFC participant who:
    (a) commits an act prohibited under the Acting Law of the AIFC and (or) the legislation of RK;
    (b) omits to do an act that is required under the Acting Law of the AIFC and (or) the legislation of RK; or
    (c) otherwise contravenes the Acting Law of the AIFC and (or) the legislation of RK,
    commits contravention of these Rules, which entails responsibility established by the Acting Law of the AIFC, the legislation of RK and AFSA policy.

     

    Schedule 1

  2. TERMS AND DEFINITIONS

    1) AFSA – Astana Financial Services Authority;
    2) ARDFM – Agency of the Republic of Kazakhstan for Regulation and Development of Financial
    Market;
    3) AIFC bank – an AIFC participant licensed by AFSA to provide the following services, subject to the requirements set out in these Rules:
    a) accepting deposits, granting the loans, making payments, opening and maintaining bank accounts;
    b) Islamic banking and Islamic financing (except for non-banking Islamic organisations);
    4) STB of RK – an authorised bank recognised as such in accordance with the currency legislation of RK;
    5) national currency – national currency of the Republic of Kazakhstan;
    6) NBRK – National Bank of the Republic of Kazakhstan;
    7) non-residents – legal and natural entities recognised as non-residents under the Law of the Republic of Kazakhstan “On Currency Regulation and Currency” Control”;
    8) AIFC Bodies – as defined in Article 9 of the Constitutional Statute of the Republic of Kazakhstan “On the Astana International Financial Centre”, No. 438-V ZRK of 7 December 2015;
    9) RK – Republic of Kazakhstan;
    10) for the purposes of currency regulation the following persons are recognised as residents of the Republic of Kazakhstan:
    (a) legal and natural entities as well as branches (and representative offices) of foreign entities recognised as residents under the Law of the Republic of Kazakhstan “On Currency Regulation and Currency Control”; (b) AIFC participants.
    11) AIFC participants – legal entities registered in accordance with the Acting Law of the AIFC as well as other legal entities accredited by the AIFC;
    12) KASE – JSC “Kazakhstan Stock Exchange”;
    13) Controlling shareholder – a shareholder who owns, whether on its own or jointly with its affiliates, 50%+1 of the shares of an AIFC participant.

    Schedule 2

  3. LIST OF FINANCIAL SERVICES PROVIDED BY AIFC PARTICIPANTS TO RESIDENTS THAT ARE NOT AIFC PARTICIPANTS
    No. Name of the service Currency
    1 Banking and payment services
    1.1 Islamic banking and Islamic financing carried out by Islamic banks Any currency
    1.2 loans to legal entities of the Republic of Kazakhstan Foreign currency
    1.3 opening and maintaining current bank accounts for clients (for lending and investment banking services) Foreign currency
    1.4  receiving and making payments and (or) money transfers using current bank account (within the permitted types of services) Foreign currency
    2 Insurance
    2.1 Direct voluntary insurance 
    2.1.1. air transport insurance Any currency
    2.1.2 water transport insurance Any currency
    2.1.3 space objects insurance Any currency
    2.1.4 insurance of cargo related to air transport, water transport and space objects Any currency
    2.1.5 legal liability insurance of air transport owners Any currency
    2.1.6 legal liability insurance of water transport owners Any currency
    2.1.7 legal liability insurance of space objects owners Any currency
    2.2 Reinsurance activities
    2.2.1 acceptance of all risks from Kazakhstani insurers for reinsurance Any currency
    2.3 Reinsurance broker’s activity
    2.3.1 Kazakhstani insurers have the right to transfer insurance risks for reinsurance through the insurance broker-  AIFC participant Any currency
    2.4 Additional types of insurance
    2.4.1 insurance of guarantees and bails Any currency
    2.4.2 insurance of court costs Any currency
    2.4.3 title insurance Any currency
    2.4.4 Islamic insurance Any currency
    2.5 New types of specific risks insurance
    2.5.1 catastrophe risks Any currency
    2.5.2 climate -related risks Any currency
    2.5.3 cyber risks Any currency
    2.5.4 terrorism-related risks Any currency
    2.5.5 political risks Any currency
    3 Investment services
    3.1 Investment banking services
    3.1.1 underwriting (placement of securities during IPO / SPO at the AIX, foreign stock exchanges) Any currency
    3.1.2 financial consulting (M&A structuring, private equity, restructuring, hedging) Any currency
    3.2 Dealer activity
    3.2.1  dealer services (making deals for own benefit) Any currency
    3.3 Brokerage services (conclusion of transactions in the interests of the client)
    3.3.1 Brokerage services on international capital markets, at the AIFC Exchange as related to securities issued under the Acting Law of the AIFC and foreign law Any currency
    3.3.2 Brokerage services at the AIFC Exchange as related to Kazakhstani securities provided that the AIFC participant has relevant ARDFM licence and (or) direct access to settlements in the Central Securities Depository JSC Any currency
    3.4 Providing custody services (nominal holding, accounting and safeguarding of securities)
    3.4.1 Providing custody of the securities issued in accordance with foreign legislation and Acting Law of the AIFC Any currency
    3.4.2 Providing custody by the AIFC participant in respect to Kazakhstani securities provided that the AIFC participant has relevant ARDFM licence Any currency
    3.4.3 Settlement depository or  custodial services of the AIFC Central Securities Depository in respect to all securities included in the official list of the AIFC Exchange Any currency
    3.5 Managing Investment (including investment funds)
    3.5.1 in relation to clients (investors) – who are citizens and legal entities of the Republic of Kazakhstan investing in securities of the funds incorporated in the AIFC and managed by management companies licensed by ARDFM Any currency
    3.5.2 in relation to clients (investors) who are professional investors and have financial assets in the equivalent of not less than USD 150 000, when transferring the investments under the management or investing in securities of the funds incorporated in the AIFC and managed by fund manager licensed by AFSA  The requirements of this subparagraph do not apply to transactions made prior to commencement of these Rules.

     

    Any currency
    3.6 Trust services
    3.6.1 trust services (provision of services related to express trust creation and management) without restrictions Any currency
  4. LIST OF RELATED SERVICES PROVIDED BY AIFC PARTICIPANTS TO RESIDENTS THAT ARE NOT AIFC PARTICIPANTS
    No. Name of the service  Currency
    1 Arranging Custody
    1.1 intermediary consulting services, collecting and processing Any currency customer payments disclosure and settlement of agreement terms between the custodian and the person who receives the custody
    2 Advising on Investments 
    2.1 giving advice to a person in his capacity as an investor or potential investor on the merits of his buying, selling, holding, subscribing for or underwriting a particular investment Any currency
    3 Arranging Deals in Investments 
    3.1 making arrangements with a view to another person buying, selling, subscribing for or underwriting an investment Any currency
    4 Advising on a Credit Facility 
    4.1 giving advice to a person in his capacity as a borrower or a potential borrower, on the merits of his entering into a particular credit facility Any currency
    5 Arranging a Credit Facility  
    5.1 collecting and processing commissions, fees, and other Any currency

    payments, assisting the lender in placing funds and the borrower in obtaining credit facility, agreement and settlement of the terms of the contractual relationship between the lender and the borrower, transmission of instructions or confirmations concerning credit facility

     

    6 Services of Providing Investment Fund Establishment and Administration
    6.1 assets valuation and calculation of the value of assets, undertaking transactions monitoring and reconciliation of  functions, communication with stakeholders Any currency
    7 Acting as Trustee of a fund
    7.1 holding the assets of a Fund on trust for the unitholders Any currency
    8 Managing a restricted profit sharing investment account based on Islamic financial contract
    8.1 managing an investment account (portfolio, fund), involving restriction of investments only within the Islamic Financial Contract with profit/loss sharing between the management company and the holder of the Islamic account (client)

     

     

    Any currency

    Schedule 3

  5. LIST OF PROFESSIONAL SERVICES THAT CAN BE PROVIDED BY AIFC PARTICIPANTS TO RESIDENTS THAT ARE NOT AIFC PARTICIPANTS, IN ANY CURRENCY
    No. Name of professional service
    1 Legal services
    2 Audit services
    3 Accounting services
  6. LIST OF TRANSACTIONS THAT AIFC BANKS ARE ENTITLED TO CARRY OUT THROUGH THEIR CORRESPONDENT ACCOUNTS IN THE NATIONAL CURRENCY IN STBs OF RK
    No. Type of transaction
    1 Accepting and transferring money on the bank’s own transactions
    2 Execution of clients’ instructions on payment of taxes and obligatory payments to the budget, as well as execution by the AIFC bank of collection orders (tax authorities and bailiffs) brought forward to the client’s current bank account
    3 Payment of brokerage commissions, listing and other exchange fees for securities transactions in national currency at the AIFC Exchange and KASE
    4 Settlements on transactions and payments on securities in national currency at the AIFC Exchange and KASE exchange
    5 Settlement of transactions and payments on financial instruments in the national currency, including the securities being in nominal holding of the AIFC bank and transferred for custody in STBs of RK
    6 Payment for consulting services provided by the AIFC bank

    Schedule 5

  7. PROCEDURE FOR PROVIDING INFORMATION ON CURRENCY TRANSACTIONS IN THE AIFC

    1. GENERAL PROVISIONS
    1.1. This Schedule sets out requirements for AIFC participants to provide information for purposes of currency regulation on currency transactions carried out by them, including on behalf of clients, as well as for STBs of RK on currency transactions carried out on behalf of AIFC participants.
    1.2. The information on currency transactions including client operations provided by AIFC participants includes:
    (a) information on payments and (or) money transfers on currency transactions carried out by AIFC banks, including on behalf of clients, as well as by a STB of RK – on behalf of AIFC participants;
    (b) information on resident clients’ transactions and the status of their accounts provided by AIFC banks;
    (c) information on deals and transactions carried out by AIFC participants, including on behalf of clients, that affected the change in requirements for non-residents and obligations in front of them;
    (d) information on transactions with securities and derivatives carried out by AIFC participants with nonresidents;
    (e) information on income accrued and received from foreign exchange transactions with financial instruments of AIFC participants.
    1.3. Information on currency transactions carried out, including on behalf of clients, is provided by AIFC participants and STBs of RK to the AFSA in the form of regular reports, the format and timing of which are determined by these Rules, or at the request of the AFSA.
    1.4. AIFC participants provide the AFSA with the data and information in accordance with these Rules electronically through secure communication channels with confirmation by an electronic digital signature.
    1.5. AIFC participants are responsible for non-submission, late submission, as well as the provision of false data in accordance with the Acting Law of the AIFC.
    1.6. AIFC Bodies and their organisations include information about their own transactions in the reports submitted by the AFSA to the NBRK on the transactions carried out by AIFC participants.
    1.7. The data in the reports related to monetary obligations and payments (or transfers) of money are reflected in USD. Unless otherwise indicated, if the currency of the obligation or payment (or transfer) of money differs from the USD, the equivalent in USD is calculated using the market exchange rate at the date of the transaction.
    1.8 Zero values are provided for types of operations prohibited for AIFC participants provision of information on which is required by these Rules.

  8. 2. TERMS AND DEFINITIONS

    2.1. For the purposes of this Schedule of the Rules, the key definitions specified in the Rules on Currency Regulation in the AIFC are used, together with the following definitions:
    (a) the object of investment is a legal entity, investment fund, whose securities (votes of participants) are being acquired (acquired), as well as organisations to whose property contributions are being made (were made). In the case of depositary receipts, the object of investment is an issuer of the security that is their underlying asset;
    (b) own transactions – currency transactions of a resident who is a party to an agreement, carried out on his own behalf and at his own expense.
    2.2. Accepting Deposits is a type of regulated activity, as defined in paragraph 17 of Schedule 1 of the AIFC General Rules.
    2.3. Providing Custody is a type of regulated activity, as defined in paragraph 5 of Schedule 1 of the AIFC General Rules.

  9. 3. PROCEDURE FOR PROVIDING INFORMATION ON CURRENCY TRANSACTIONS BY AIFC BANKS AND STBs OF RK

    3.1. An AIFC bank and a STB of RK provide to the AFSA the following:
    (a) a report on payments and (or) transfers made on foreign currency transactions, including on behalf of AIFC participants, made in the AIFC territory, for an amount equal to or exceeding the equivalent of USD 50,000, in accordance with Annex 1 to this Schedule. The report is submitted monthly no later than the 15th (fifteenth) day of the month following the reporting month;
    (b) a report on clients’ bank accounts in foreign currency, including a list of residents who have bank accounts in foreign currency with the AIFC bank, and aggregated data on cash balances on them, in accordance with Annex 2 to this Schedule. The report is submitted monthly no later than the 10th (tenth) day of the month following the reporting month;
    (c) a report on the bank accounts of the AIFC participants who have opened deposit accounts in STBs of RK in the form in accordance with Annex 5 to this Schedule. The report is submitted quarterly no later than the 10th (tenth) day of the month following the reporting quarter.
    3.2. In order to clarify the circumstances of currency transactions, the AFSA has the right to request from the AIFC bank the provision of a contract on the basis and (or) pursuant to which a payment and (or) money transfer was made or a corresponding obligation of the AIFC bank arises.
    3.3. The AFSA, no later than the 18th (eighteenth) day of the month following the reporting month, provides information to the NBRK in the form of Annex 1 to this Schedule and no later than the 15th (fifteenth) day of the month following the reporting month, provides information to the NBRK in the form of Annex 2 to this Schedule electronically via secure communication channels with confirmation by electronic digital signature.

  10. 4. PROCEDURE FOR PROVIDING INFORMATION BY AIFC PARTICIPANTS PROVIDING DEPOSITORY AND BROKERAGE SERVICES

    4.1. AIFC participants providing depository and brokerage services in accordance with the their AFSA licence (hereinafter referred to as participants), quarterly no later than the 10th (tenth) day of the month following the reporting month, submit reports on securities to AFSA in accordance with Annex 3 to this Schedule.

    The AFSA submits the participants’ reports to the NBRK no later than the 20th (twentieth) day of the month following the reporting quarter.

    4.2. The report is submitted on the AIFC participants’ own transactions and transactions of their clients:
    (a) with securities issued by residents and owned by a non-resident;
    (b) with securities issued by non-residents and owned by a resident;
    (c) with securities issued by residents abroad and owned by a resident.

    4.3. The report reflects data on transactions carried out during the reporting period (on its own behalf and on behalf of clients) with all securities issued in the Republic of Kazakhstan and abroad. Data are also provided on the number of securities, their value at the beginning and end of the reporting period, and, if available, investment income from the ownership of securities and service fees, including in the absence of transactions in the reporting period.
    Transactions of securities repurchased are not reflected in Annex 3 to this Schedule. Data at the beginning and end of the reporting period on the security involved in the repurchase agreements are reflected by the original owner of the security.

    4.4. The data is presented separately for each type of security by customer/owner sectors:
    «1» central government;
    «2» regional and local governments;
    «3» central (national) banks;
    «4» other depositary organisations;
    «5» other financial organisations;
    «6» state non-financial organisations;
    «7» non-state non-financial organisations; «8» non-profit organisations serving households; «9» households.

    4.5. Positions on securities at the beginning of the reporting period are equal to their positions at the end of the previous period. The position on securities at the end of the reporting period is determined based on the market price announced on the organised securities market at the end of the reporting period.
    4.6. In the case of securities for which transactions are concluded in an unorganised market, the following prices are applied in order of preference to assess the position on securities at the end of the reporting period:
    (a) the last transaction price of the security;
    (b) the price of the security at the purchase price, excluding acquisition-related expenses (brokerage fees, renumeration for banking services); (c) nominal value of the security.
    4.7. Financial transactions include transactions between a resident and a non-resident involving a change in the economic ownership of securities, and are reflected at the value specified in the transaction (in case of absence of the value – at the price quoted on the market on the date of the agreement): purchase (sale) on the primary and secondary securities markets, receipt (transfer) of securities as a gift, by inheritance.

    4.8. Other transactions include:
    1) transactions between a resident and a non-resident that do not result in the transfer of ownership of securities (transfer of securities to a nominal holding, transfer of clients from one nominal holder or registrar to another nominal holder or registrar);
    2) transactions between a resident and a non-resident with the transfer of ownership rights, except for those related to financial transactions: alienation of securities by court decision;
    3) transactions between non-residents with the transfer of ownership rights (purchase on secondary market, sale on secondary market);
    4) transactions between residents with the transfer of ownership rights (purchase on secondary market, sale on secondary market).

    4.9. Financial transactions and other indicators denominated in other foreign currencies are converted into USD at the cross-rate determined as follows:
    1) the cost at the beginning of the period is transferred at the cross-rate at the end of the previous period;
    2) the cost at the end of the period – at the cross-rate at the end of the reporting period;
    3) financial and other transactions, investment income and commissions – at the cross-rate at the date of the transaction or at the weighted average cross-rate for the reporting period.

  11. 5. PROCEDURE FOR PROVIDING INFORMATION ON CURRENCY TRANSACTIONS OF CAPITAL MOVEMENTS BY AIFC PARTICIPANTS

    5.1. The AIFC participant provides the AFSA with information on the contract, on the basis of and pursuant to which capital movement transactions are carried out, for an amount equal to or exceeding the equivalent of USD 500,000, in accordance with Annex 4 to this Schedule. The information is provided before the expiration of 30 (thirty) calendar days from the date of commencement of payments under this contract.
    If the party and (or) the currency of the contract change, the AIFC participant submits information to the AFSA in accordance with Annex 4 to this Schedule. The information is provided before the expiration of 30 (thirty) calendar days from the date of amendments to the contract.
    5.2. At the request of the NBRK, the AIFC participant submits to the AFSA information on forecast data on repayment of debt on financial loans.
    5.3. The AFSA provides information on forecast data on repayment of debt on financial loans to the NBRK in the form of Annex 4 to this Schedule – monthly, until the 10th day of the month following the reporting period.

  12. Report on executed currency transactions
    (structure of payment information in the bank's report)

    Name of AIFC Bank / STBs of RK
    (identification code) ___________________________

    1. Details of the currency contract
    1.1 Number of currency contract
    1.2 Date of currency contract
    1.3 Account number of currency contract
    2. Sender of money under payment document
    2.1 Name or surname, first name, patronymic (if any)
    2.2 BIN/ IIN
    2.3 Country code
    2.4 Residency indicator
    2.5 Economic sector code
    3. Beneficiary of payment document
    3.1 Name or surname, first name, patronymic (if any)
    3.2 BIN/ IIN
    3.3 Country code
    3.4 Residency indicator
    3.5 Economic sector code
    4. Information about currency transaction
    4.1 Date
    4.2 Currency transaction reference
    4.3 Currency transaction code
    4.4 Payment purpose code (PPC)
    4.5 Amount in thousands of currency units
    4.6 Payment currency code
    4.7 Payment indicator
    4.8 Indicator of an intra-corporate money transfer
    4.9 Indicator of transaction related to the withdrawal of money
    5. Information about counterparty’s organisation (bank) for a currency transaction
    5.1 Identification code of the organisation (bank) (BIC)
    5.2 Name
    5.3 Country code
    6. Sender of money under a currency contract
    6.1 Name or surname, first name, patronymic (if any)
    6.2 BIN/ IIN
    6.3 Country code
    6.4 Residency indicator
    6.5 Economic sector code
    7. The recipient of money under currency contract
    7.1 Name or surname, first name, patronymic (if any)
    7.2 BIN/ IIN
    7.3 Country code
    7.4 Residency indicator
    7.5 Economic sector code
    8. Note

    Annex 2 to Schedule 5

  13. Report on the monetary movement on clients' bank accounts in foreign currency as of__________

    Name of the AIFC Bank / STBs of RK_____________

    1. Aggregated information on the balance of funds on customers’ bank accounts in foreign currency at the reporting date

    Indicator name \ Bank account currency Amount in USD in equivalent Including by type of currency:
    USD EUR CNY
    Balance at the beginning of the period, total
    including:
    Residents – individuals
    Non-residents – individuals
    Residents – legal entities
    Non-residents – legal entities
    Receipt to clients’ bank accounts in foreign currency, total
    including from:
    Residents – individuals
    Non-residents – individuals
    Residents – legal entities
    including transactions:
    Sale of goods and intangible assets
    Provision of services
    Receipt of the principal amount of debt and income on loans issued
    Raising loan funds from resident banks
    Transactions with securities, promissory notes and contributions ensuring participation in the capital
    Other money transfers
    Non-residents – legal entities
    including transactions:
    Sale of goods and intangible assets
    Provision of services
    Receipt of the principal amount of debt and income on loans issued
    Raising loan funds from resident banks
    Transactions with securities, promissory notes and contributions ensuring participation in the capital
    Other money transfers
    Transfers of money from their bank accounts by residents – individuals.

    total

     

    including opened in:
    Resident banks
    Non-resident banks
    Transfers of money from non– resident individuals from their bank accounts,  total
    including opened in:
    Resident banks
    Non-resident banks
    Transfers of money from their bank

    accounts by residents – legal entities,  total

    including opened in:
    Resident banks
    Non-resident banks
    Transfers of money from non– resident legal entities from their bank accounts,  total
    including opened in:
    Resident banks
    Non-resident banks
    Purchase of foreign currency, total
    including:
    Residents – individuals
    Non-residents – individuals
    Residents – legal entities
    Non-residents – legal entities
    Crediting foreign currency in cash to their bank accounts, total
    including:
    Residents – individuals
    Non-residents – individuals
    Residents – legal entities
    Non-residents – legal entities
    Withdrawal of money from clients’

    bank accounts in foreign currency, total

    including in  favour of:
    Residents – individuals
    Non-residents – individuals
    Residents – legal entities
    including transactions:
    Purchase of goods and intangible assets
    Receiving services
    Grant of a loan
     Fulfilment of obligations on loans attracted from resident banks

     

    Transactions with securities, promissory notes and contributions ensuring participation in the capital
    Other money transfers
    Non-residents – legal entities
    including transactions:
    Purchase of goods and intangible assets
    Receiving services
    Grant of a loan
     Fulfilment of obligations on loans attracted from resident banks
    Transactions with securities, promissory notes and contributions ensuring participation in the capital
    Other money transfers
    Transfers of money from residents – individuals to their bank accounts, total
    of them opened in:
    Resident banks
    Non-resident banks
    Transfers of money from non– resident individuals to their bank accounts, total
    of them opened in:
    Resident banks
    Non-resident banks
    Transfers of money from residents – legal entities to their bank accounts, total
    of them opened in:
    Resident banks
    Non-resident banks
    Transfers of money from non– resident legal entities to their bank accounts, total
    of them opened in:
    Resident banks
    Non-resident banks
    Sale of foreign currency, total
    including:
    Residents – individuals
    Non-residents – individuals
    Residents – legal entities
    Non-residents – legal entities
    Withdrawal of foreign currency cash from their bank accounts, total
    including:
    Residents – individuals
    Non-residents – individuals
    Residents – legal entities
    Non-residents – legal entities
    Balance at the end of the period, total
    including:
    Residents – individuals
    Non-residents – individuals
    Residents – legal entities
    Non-residents – legal entities
  14. 2. List of resident individuals and resident legal entities that opened bank accounts in foreign currency
    Subparagraph No IIN / BIN Resident status in the

    AIFC

    Account type Account currency Account opening date
  15. Annex 3 to Schedule 5

    Report on transactions of resident clients with securities of foreign issuers, with securities issued by residents in accordance with the legislation of other states and on their territory, and on transactions of non-resident clients with securities issued by residents of the Republic of Kazakhstan for ___ quarter of 20__

    AIFC participant BIN/Name

    Information about account

    transactions____

     

    1 ISIN
    1.1 Name of the asset/financial instrument
    1.2 Name of the issuer
    1.3 Country of registration of the issuer[1]
    2 Account balances _____ at the beginning of the period: – quantity
    – amount (thousand USD)
    3 Financial transactions
    3.1 Increase as a result of purchase in the primary market:

    –  quantity

    –  amount (thousand USD)

    3.2 Repayments:

    –  quantity

    –  amount (thousand USD)

    3.3 Increase as a result of purchase on the secondary market:

    –  quantity

    –  amount (thousand USD)

     

     

    3.4 Decrease as a result of sale on the secondary market:

    –  quantity

    –  amount (thousand USD)

     

     

    4 Other transactions
    4.1 Depositing

    –  quantity

    –  amount (thousand USD)

     

     

    4.2 Write-offs

    –  quantity

    –  amount (thousand USD)

    5 Account balances _____ at the end of the period:

    –  quantity

    –  amount (thousand USD)

     

     

     

    6 Investment income accrued during the reporting period[2]
    7 Investment income received during the reporting period[3]
    8 Commission received4

    [1] For international organisations, specify “International Organisation”

    [2] accrual of the declared remuneration for the days of ownership by the participant or his client of the security in the reporting period; depreciation of the premium or discount for the days of ownership by the participant or his client of the security in the reporting period

    [3] dividends received by the respondent or his client in the reporting period; remuneration received by the respondent or his client in the reporting period when the issuer repays accrued interest on debt securities 4 data on commission income for brokerage services, advisory, information, registration and other services paid by a non-resident client to a participant

    Annex 4 to Schedule 5

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