Approved by ResolutionNo. 109 of 23 June 2010

of theBoard of Directors of the National Bankof

theRepublic of Kazakhstan

Regulations of the National Bank oftheRepublic of Kazakhstan

Chapter1. General Provisions

  1. These Regulations of the National Bank ofthe Republic of Kazakhstan (hereinafter“the Rules”) shall establishgeneral rules of operations of the National Bank ofthe Republic of Kazakhstan (hereinafter “the National Bank”) in the course of fulfillment of thosetasksand functions that have been imposed thereon in accordance with the Constitution of the Republic of Kazakhstan;the Law“Onthe National Bank ofthe Republic of Kazakhstan”of 30 March1995; Edict No.1271of 31 December 2003 of thePresident of the Republic of Kazakhstan“On Approval of the Statuteand Structure of the National Bank ofthe Republic of Kazakhstan” (hereinafter “the Statute onthe National Bank”) andother regulationsof the Republic of Kazakhstan and the National Bank.
  2. Requirements todocument handling and deadlines for execution thereofestablished by theseRulesshall apply to all employees oftheCentral Headquarters departments, branches and representative offices and national state enterprises (“the Organizations”) of the National Bank (hereinafter referred to as “the Departments”)of the National Bank.
  3. Organization and maintenance of the unclassified record management, receipt, handling and distribution of correspondence, including electronic document management,shall be determined by the Regulations worked out and approved according to theLaws of Republic of Kazakhstan “OnRegulations” of 24 March 1998; “OnAdministrative Procedures”of 27 November 2000; “OnElectronic Documentsand Electronic Digital Signature” of 7 January 2003; “Procedures for Considering Applications of Natural Persons and Legal Entities” of 12 January 2007; Decree No.289 of the Government of the Republic of Kazakhstan “OnApprovalof theStandard Rules of a Central State Authority of the Republic of Kazakhstan”of 26 March 2008; Resolution No.432 of theBoard of Directors of the National Bank ofthe Republic of Kazakhstan “OnApproval of the Instruction for Record Managementin the National Bank ofthe Republic of Kazakhstan (hereinafter – “the Instruction for Record Management”) of 26 November 2003 and other regulations of the Republic of Kazakhstan.

The confidential record management shall be organized and maintained in accordance with the Instruction on Security in theRepublic of Kazakhstanapproved by Decree of the Government of theRepublic of Kazakhstan.

Chapter2. Planning of the National Bank Activities

  1. The National Bank shall carry out its activity in accordance with the quarterly, yearly and long-terms work plans.

Procedure of preparation and approval of the National Bank’s work plans (hereinafter “the Work Plan”) shall be governed by a separate regulatory legal act of theNational Bank.

The approved Work Plans shall be submittedto the Directors of the National Bank’s departments for familiarization and observance.

  1. Decisions on exclusion of certain arrangements from the Work Plans or change in the deadlines thereof shall be made by the Chairman of the National Bank (or an Acting Chairman) based on the Office Memorandum submitted by the director of the department having authority with regard to the issues covered in the Work Plan, and said Office Memorandum has to be approved by the Deputy Chairman of the National Bank in charge of the respective issues.
  2. The National Bank works out on yearly basis the National Bank’s Strategic Plan for a planning period in accordance with the Budget Code of the Republic of Kazakhstan of 4 December 2008 and the Edicts of the President of the Republic of Kazakhstan No. 827 of 18 June 2009 “On the State Planning System in the Republic of Kazakhstan” and No.931 of 4 March 2010 “On Certain Issues of Further Functioning of the State Planning System in the Republic of Kazakhstan”.

The National Bank’s Strategic Plan shall be worked out on the basis of the strategic and program documents of the Republic of Kazakhstan and approved forecast of the socio-economic development.

The National Bank’s Strategic Plan shall be worked out and approved within the period established by the legislation of the Republic of Kazakhstan

The National Bank’s Strategic Plan shall be submitted for approval to the President of the Republic of Kazakhstan or an official authorized by the President of the Republic of Kazakhstan.

The National Bank’s Strategic Plan shall be mandatory placed on the National Bank’s official Internet resource and data containing restricted information should be protected in accordance with the legislation of the Republic of Kazakhstan.

To implement the Strategic Plan the National Bank shall elaborate the Operations Plan, which includes specific actions of the National Bank in the current financial year and specifies the responsible officers and deadlines for implementation of arrangements to achieve aims, objectives and Strategic Plan performance results.

The Operations Plan is worked out on a yearly basis and is approved within the period established by the legislation of the Republic of Kazakhstan by the Order of the Chairman of the National Bank.

The officers and departments of the National Bank responsible for development, implementation, monitoring and assessment of the National Bank’s Strategic Plan shall be determined by the Order of the Chairman of the National Bank.

  1. The National Bank’s annual report is submittedfor approval to the President of Republic of Kazakhstanevery year, according to the Law “On the National Bank of the Republic of Kazakhstan” and Statute on the National Bank.

Chapter 3. Procedure of Planning, Preparation and Holding of Meetings

of the Management Board and Board of Directors of the National Bank

  1. In accordance with the Law “On the National Bank of the Republic of Kazakhstan” and Statute on the National Bank, the Management Board and the Board of Directors shall be the National Bank’s collegial bodies.

The Management Board shall be the National Bank’s highest body, while the Board of Directors shall be the National Bank’s operational management body.

  1. The procedure of planning, preparation and holding meetings, and making decisions by the Management Board and Board of Directors of the National Bank and follow-up control of the decisions shall be determined in accordance with the Laws “On the National Bank of the Republic of Kazakhstan, “On Administrative Procedures”, the Statute on the National Bank, Resolution No. 5 of 26 January 2009 of the Management Board of the National Bank “On Approval of the Rules of the Management Board of the National Bank of the Republic of Kazakhstan”, and Resolution No. 7 of 20 January 2009 “On Approval of the Rules of the Board of Directors of the National Bank of the Republic of Kazakhstan”.
  2. Information about activities of the Management Board and Board of Directors shall be mandatory placed on the National Bank’s official Internet resource.

Chapter 4. Communication with Branches, Representative Offices

and Organizations of the National Bank

  1. The National Bank’s organizational structure includes the Central Headquarters, branches, representative offices and organizations in accordance with the Law “On the National Bank of the Republic of Kazakhstan” and Statute on the National Bank.

The National Bank’s Central Headquartersshall communicate with its branches, representative offices and organizations in accordance with the Law “On the National Bank of the Republic of Kazakhstan”, Statute on the National Bank, other regulatory legal acts and regulations of the National Bank concerning the respective functional areas of activities of the National Bank’s departments, as well as in accordance with the Charters of the Organizations.

Chapter5. Procedure of Acceptance, Registration, Passage,

Reviewand Execution of the Incoming and

Outgoing Correspondence in the National Bank

  1. Acceptance, registration, passage, review and execution of the incoming and outgoing correspondence and other internal documents in the National Bank shall be carried out in accordance with the Laws “On the Administrative Procedures”, “On Procedure of Consideration of Applications of the Natural Person and Legal Entities, Instructionfor Record Management and the Rules.
  2. Correspondence, except for the correspondence from the Administration of the President of the Republic of Kazakhstan (hereinafter, “the Presidential Administration”), Parliament and the Office of the Prime-Minister of the Republic of Kazakhstan, coming to the National Bank shall be accepted and registered by the National Bank’s department responsible for the documentation support of the National Bank’s activities and control (hereinafter “the AuthorizedDepartment”), from 9.00 a.m. till 6.00 p.m.duringbusiness days and from 9.00 a.m. till 2.00 p.m. on Saturdays.

Correspondence coming from the Presidential Administration, Parliament and Prime-Minister’s Office shall be accepted till 8.00 p.m. during business days and till 5.00 p.m. on Saturdays.

Documents made by the state bodies in pursuance of urgent orders (with a deadline within 10 calendar days) shall be accepted within one business day against presentation of a document, which confirm the urgency (copies of the acts and orders of the President of the Republic of Kazakhstan, Presidential Administration, the Prime-Minister and Deputies Prime-Minister, Head of the Office of the Prime-Minister of the Republic of Kazakhstan).

Incoming documents shall be registered in the automated information subsystem of the electronic document flow on the date of coming to the National Bank, while the outgoing documents shall be registered on the date of its sending to an addressee.

Correspondence coming from the Presidential Administration, Parliament and Prime-Minister’s Office and documents made by the state bodies in pursuance of urgent orders (with a deadline within 10 calendar days) shall be accepted in accordance with the Instruction for Record Management in the National Bank.

  1. Documents received from the state bodies in hard copies and on electronic media should be identical, executed on a appropriate stamp letterhead of a standard pattern in the state language (with the version in the Russian language being attached, if necessary) and contain the following mandatory details:

1)Outgoing number and date;

2)Reference to the respective acts and orders of the President, Presidential Administration, Parliament, Government and Prime-Minister, his deputies, Head of the Office of the Prime-Minister of the Republic of Kazakhstan, and when responding to the state body’s inquiry – the number and date of the inquiry;

3)Signature of the Chief Executive Officer of a state body or his (her) deputy; and

4)Last name of an executing officer and his (her) phone number.

Electronic documents related to issues of special significance should be executed also in hard copies (with the retention period established by the state authorized body in charge of archive and documentation management).

Incoming correspondence executed in contravention of the requirements of the Rulesshall not be accepted and/or shall be returned by the Authorized Department to the respective state authority on the sameday, except for the correspondence from the Presidential Administration, the Parliament and Office of the Prime-Minister of the Republic of Kazakhstan.

  1. Documents that have been accepted in accordance with the procedure specified by the Instruction for Record Management in the National Bank and the Rules shall be reviewed; registered with specification of the number, date and a number of sheets in the registration stamp;allocated according to their ownership among the Chairman of the National Bank, his deputies (hereinafter referred to as “the National Bank Management”) and the National Bank’s departments and followed up by the Authorized Department.

The AuthorizedDepartment shall deliver properly registered and executed incoming correspondence allocated on the basis of the ownership of the issue to the addressees electronically and in hard copy.

Copies of the urgent correspondence are simultaneously sent electronically to the director of the department responsible for the issues covered in the incoming document.

The authorized department shall register, allocate, execute and bring correspondence to the addressees, as a rule, within two hours from the time of its delivery to the National Bank, and the urgent correspondence should be delivered forthwith (lightning priority)

  1. The National Bank Management shall consider the incoming correspondence on the delivery date, while urgent information shall be considered immediately. Based on the results of the incoming correspondence consideration, the National Bank Management shall give the respective instructions, which are formalized in the form of resolutions and registered in the automated information subsystem of electronic document management (affixing of electronic signature) and/or in hard copy. Documents bearing resolution of the National Bank Management shall be delivered to the departments for execution.

17Drafting, approval and execution of the outgoing correspondence in the National Bank shall be carried out in accordance with the Laws “On Administrative Procedures”, “On Procedure of Administration of Appeals of the Natural Persons and Legal Entities”; Instruction for Record Management in the National Bank and the Rules.

18.Documents sent to the state bodies (including those sent in a format of an electronic document) shall be executed on a stamp letterhead in the state language (with the version in the Russian language being attached, if necessary).

Documents sent to the addressees in hard copy, which are signed by the Chairman of the National Bank, Vice-Chairmen, and directors of departments of the National Banks shall be registered in the log of outgoing documents of the National Bank’s automated information subsystem of electronic document management.

Prior to submission of the correspondence for delivery, the responsible officer of the executing department shall check its correctness and submit to the Authorized Department on the day of registration thereof in the automated information subsystem of electronic document management.

Chapter 6. Procedure of Preparation, Execution and Approval

of the Draft Acts and Instructions of the President of the Republic of Kazakhstan; Control of Fulfillment of the Acts and Instructions of the President of the Republic of Kazakhstan and Monitoring of the Edicts of the President of the Republic of Kazakhstan

19.Drafting, execution, agreement, submission for signing of the draft acts and instructions of the President of the Republic of Kazakhstan; control of fulfillment of the acts and instructions of the President of the Republic of Kazakhstan and monitoring of the edicts of the President of the Republic of Kazakhstan shall be carried out in accordance with the Edict of the President of the Republic of KazakhstanNo.976 of 27 April 2010 “On Approval of the Rules for Drafting, Agreement, Submission for Signing of the Draft Acts and Instructions of the President of the Republic of Kazakhstan, Exercise Control of Fulfillment of Acts and Instructions of the President of the Republic of Kazakhstan and Monitoring of the Edicts of the President of the Republic of Kazakhstan” (hereinafter “The Edict No.976 of the President”); resolution of the Board of Directors of the National Bank No. 20 of 27 January 2003 “On Approval of the Instruction for Drafting, Execution, Agreement, Approval, Registration, Enforcement and Publication of the Regulations of the National Bank of the Republic of Kazakhstan, and for Approval of the Regulations of Other State Bodies in the National Bank of the Republic of Kazakhstan (hereinafter referred to as “Instruction for Drafting of the Regulations in the National Bank”), Instruction for Record Management in the National Bank and the Rules.

20Drafting of the acts of the President of the Republic of Kazakhstan shall be carried out by the National Bank at its own initiative, according to its authority, or by the order of the superior state bodies or officials.

21.Draft acts of the President of the Republic of Kazakhstan on the appropriate letterheads prepared by the National Bank in the state language and Russian language shall be delivered to the Presidential Administration in the form of a letter signed by the Chairman of the National Bank.

22.The National Bank shall submit the draft acts and instructions of the President of the Republic of Kazakhstan to the Presidential Administration in hard copy and electronically using the Unified System of Electronic Flow of Documents (USEFD).

23.The National Bank shall ensure review and approval of the draft instruction of the President of the Republic of Kazakhstan within three business days from the date of its receipt. In this case, the drafts of instructionsof the national (local) budget should be obligatory agreed upon with the Ministry of Finance of the Republic of Kazakhstan.

The National Bank, as a part of upcoming events with participation of the President of the Republic of Kazakhstan, shall ensure submission of the draft instructions to the Presidential Administration that have been agreed (if necessary) with the Prime Minister of the Republic of Kazakhstan, government bodies and organizationsconcerned at least fifteen business days prior to holding the events with participation of the President of the Republic of Kazakhstan (related to events significant for public and meetings with participations of the President of the Republic of Kazakhstan).

The National Bank shall ensure coordination of the prepared draftinstructions of thePresident of the Republic of Kazakhstan with the government bodies and organizations concerned, the Prime-Minister and submit the drafts to the PresidentialAdministration at a stated time.

24.Control over execution of the acts and instructions of the President of the Republic of Kazakhstan shall be exercised by the subjects of the monitoring system of the National Bank specified in clause 41 of the Rules.

Deadlines set in the acts and instructions of the President of the Republic of Kazakhstan shall be calculated in business days starting from the day of submission thereof to the National Bank.

Acts and instructions of the President of the Republic of Kazakhstan should be executed by the deadlines set in the acts and instructions of the President of the Republic of Kazakhstan.

If instructions bearing a stamp “Бақылауға алынды” do not set the deadlines, they shall be executed within one month and information thereon should be delivered to the President of the Republic of Kazakhstanor Presidential Administration.In other cases information shall be supplied in accordance with an additional request from the Presidential Administration subject to applicable procedure.

Personal instruction of the President of the Republic of Kazakhstan shall be executed within two-week period from the date of its signing unless otherwise determined by the President of the Republic of Kazakhstan.

25.Reportson progress in the implementation of the acts and instructions of the President of the Republic of Kazakhstan and strategic and policy documents developed by the National Bank shall be submitted by the National Bank to the Presidential Administration in accordance with the set form.

26.The National Bank shall keep the ongoing monitoring of the edicts of the President of the Republic of Kazakhstan to identify those forms of law that conflict with the legislation of the Republic of Kazakhstan or are obsolete; to assess effectiveness of their implementation and take actions in time in order to make amendments and (or) additions thereto, or declare said forms of law invalid.