The Republic of Kazakhstan has a two-tier banking system. The National Bank of the Republic of Kazakhstan (hereinafter, the National Bank) is the central bank of Kazakhstan representing the upper (first) tier of the banking system of Kazakhstan. All other banks represent lower (second) tier of the banking system, excluding for the Development Bank of Kazakhstan, which has a peculiar legal status.
The National Bank represents, within the limits of its authority, the interests of the Republic of Kazakhstan in the relationships with central banks, banks of other countries, the international banks and other financial institutions.
The National Bank shall not be guided by the aim of gaining profit while performing its tasks.
The National Bank is the entity that reports to the President of the Republic of Kazakhstan, but within the limits of authority granted by the legislation, is independent in its activity.
The National Bank coordinates its activity with the Government of the Republic of Kazakhstan, and takes into consideration the economic policy of the Government and facilitates its implementation, if doing so is not in conflict with the realization of its main functions and implementation of monetary policy.
The National Bank is a common centralized system with the vertical organizational structure. The highest administrative authority of the National Bank is the Board, while executive management functions attribute to the Board of Directors.
In accordance with the assigned tasks, the National Bank including its territorial branches exercises the functions as specified in the Statement laying down the National Bank’s operations, namely the Statement as approved by Kazakhstan Presidential Decree dated December 31, 2003, number 1271 (as amended).
The structure of National Bank of Kazakhstan comprises:
- Headquarters with 21 departments, 2 independent divisions,
- Permanent Representative Office of the National Bank of the Republic of Kazakhstan in Almaty,
- 20 territorial branches and one branch in the city of Almaty, the Cash Operations and Valuables Storage Center,
2 organizations, accountable to the National Bank:
- The Republican State Enterprise with the right of the economic activity “Kazakhstan Mint of the National Bank of Republic of Kazakhstan”,
- The Republican State Enterprise with the right of the economic activity “The Banknote Factory of the National Bank of Republic of Kazakhstan”.
The National Bank is also a shareholder of the joint-stock companies:
- Kazakhstan Deposit Insurance Fund,
- Center of activities’ maintenance of the National Bank of Kazakhstan,
- National Investment Corporation of National Bank of Kazakhstan,
- State Credit Bureau,
- Central Securities Depository,
- Payment and Financial Technology Development Center of the National Bank of the Republic of Kazakhstan,
- Bank Service Bureau of the National Bank of Republic of Kazakhstan,
- Kazakhstan Sustainability Fund,
- National Payment Corporation of the National Bank of the Republic of Kazakhstan.