Kazakhstan: Resolution of the Board of the National Bank of the Republic of Kazakhstan dated 31 August 2016 No. 207 ‘On Approval of the Rules for Opening, Maintaining and Closing Bank Accounts of Clients’, as amended as of January 2026

Resolution of the Board of the National Bank of the Republic of Kazakhstan ‘On Approval of the Rules for Opening, Maintaining and Closing Bank Accounts of Clients’ regulates the procedure for opening, maintaining and closing bank accounts of individuals and legal entities. It defines the terms of the contract, verification of the client and its beneficiaries, as well as the procedure for notifying the tax authorities. Banks are required to keep records of transactions, ensure the safety of funds, and comply with legal orders from government agencies. Accounts may be temporary (for example, for established organizations) and are closed at the request of the client, upon liquidation of a legal entity, or in other cases prescribed by law. Later changes clarified the procedure for returning decisions of the authorities without execution and the procedure for opening accounts for alimony recipients.