The Republic of Kazakhstan has a two-tier banking system. The National Bank of the Republic of Kazakhstan is the central bank of the state and represents the top (first) level of the banking system.

The tasks, principles of activity, legal status and powers of the National Bank of the Republic of Kazakhstan (authorized body) are determined by the Law of the Republic of Kazakhstan “On the National Bank of the Republic of Kazakhstan” and other laws of the Republic of Kazakhstan.

The authorized body regulates, as well as, along with its department, monitors and supervises banking issues within its competence and contributes to the creation of general conditions for the functioning of banks and organizations engaged in certain types of banking operations.

Regulatory functions of the authorized body in relation to banks and organizations engaged in certain types of banking operations are aimed at maintaining the stability of the monetary system of the Republic of Kazakhstan, protecting the interests of creditors of banks, their depositors and customers.

All other banks represent the lower (second) level of the banking system with the exception of the Development Bank of Kazakhstan, which has a special legal status determined by the legislative act of the Republic of Kazakhstan.