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Payment systems oversight

The National Bank of the Republic of Kazakhstan carries out oversight of payment systems in accordance with articles 8 and 48 of the Law of the RK “On the National Bank of the Republic of Kazakhstan”.

Oversight of payment systems – activity of subdivision of payment systems carried out for the purposes of providing effective, safe and continuous functioning the payment systems, as well as effective functioning, use and development of other oversight facilities.

According to the article 48 of the Law of the RK “On the National Bank of the Republic of Kazakhstan” for the purposes of carrying out oversight of payment systems the National Bank of Kazakhstan has a right to:

  • establish the order of oversight of payment systems;
  • adopt regulatory legal acts defining terms and order of organization and functioning of the payment systems;
  • carry out monitoring of payment systems;
  • inspect organization and functioning of the payment systems;
  • receive information from participants and operators of the payment systems;
  • carry out checks of activity of participants of payment systems.

Objects of oversight of payment systems are Interbank System of Money Transfer, Interbank Clearing System, System of correspondent relations between banks, payment instruments, market of payment cards and market of international money transfers.

The National Bank of the Republic of Kazakhstan carries out oversight of payment systems according to the Rules of carrying out oversight of the payment systems functioning and the Concept of carrying out oversight of payment systems of the Republic of Kazakhstan.

Analytical review of Kazakhstan payments systems functioning

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