Target Segment

Subjects of micro, small, and medium private entrepreneurship (MSMEs)

Target Use

1) Commercial credit without a condition for the subsequent sale of the goods to a third party or under the terms of a subsequent sale of the goods to a third party (Murabaha):

- Investments (equipment, special-purpose machinery, commercial vehicles, as well as passenger cars manufactured in the Republic of Kazakhstan). All specified types of property must be domestically produced (manufactured in the Republic of Kazakhstan). At the same time, a cost limit not exceeding **3,500 (three thousand five hundred) MCI** per unit applies to passenger cars, with the exception of the purchase of vehicles intended for cargo transportation, which have a body or cargo platform separated from the cab;

- Financing of working capital/current assets (through a Commodity Murabaha transaction);

- Refinancing/replacement of the source of financing for existing MSME financing lines issued no earlier than 01.01.2025.

2) Islamic leasing (ijara) with the presence of an obligation of the Partner to transfer the ownership of the leased asset to the SME or an obligation of the SME to buy out the leased asset, while financing of the SME through sale and secondary Islamic leasing is permitted:

- investments (equipment, special machinery, commercial vehicles, and passenger cars manufactured in the Republic of Kazakhstan). All specified types of property must be of domestic production (produced in the Republic of Kazakhstan). A cost limit of no more than 3,500 (three thousand five hundred) MCI per unit applies to passenger cars, with the exception of the purchase of vehicles intended for the transportation of goods that have a body or cargo platform separate from the cabin.

**Leased Asset** - property acquired by the Partner from the seller under a sale and purchase agreement for subsequent transfer to the MSME under a financial leasing agreement. The leased asset may include equipment, special-purpose machinery, commercial vehicles, as well as passenger cars manufactured in the Republic of Kazakhstan. All specified types of property must be domestically produced (manufactured in the Republic of Kazakhstan)6. At the same time, a cost limit not exceeding 3,500 (three thousand five hundred) MCI per unit applies to passenger cars, with the exception of the purchase of vehicles intended for cargo transportation, which have a body or cargo platform separated from the cab.

Maximum financing limit amount per MSME subject

1) For Second-Tier Banks (STBs):

- for investments, no more than 7,000,000,000 (seven billion) tenge (inclusive) per MSME/per group of related MSMEs, taking into account existing obligations under all programs of conditional placement of Fund resources;

- for replenishment of working capital (hereinafter - RWC) - no more than 3,500,000,000 (three billion five hundred million) tenge (inclusive) per MSME/per group of related MSMEs, taking into account existing obligations under all programs of conditional placement of Fund resources;

The maximum amount of the financing limit per MSME/group of related MSMEs, taking into account existing obligations under all programs of conditional placement of Fund resources, should not exceed 7,000,000,000 (seven billion) tenge.

2) For leasing companies:

- no more than 1,000,000,000 (one billion) tenge per MSME.

The aggregate outstanding principal debt of MSMEs to leasing companies should not exceed 1,000,000,000 (one billion) tenge.

Profit (Income) Rate on Islamic Leasing/Commercial Credit

1) For STBs - no more than **12.6%** (twelve point six percent) per annum;

2) For leasing companies – no more than **17%** (seventeen percent) per annum.

Financing Term

1) For STBs - no more than 120 months, including:

- for investments, no more than 120 months,

- for financing working capital/current assets, no more than 36 months.

- Refinancing of debt/replacement of the source of financing for existing MSME loans – no more than the remaining term of the refinanced debt.

2) For leasing companies - no more than 120 months;

Grace period for repayment of leasing payments/payments on commercial credit

No more than **12 months**

Special Conditions

It is permitted to acquire domestically produced assets with the “Made in Kazakhstan” marking in accordance with the requirements of the national standards of the Republic of Kazakhstan ST RK 3836 “Marking mark “Kazakhstan zhasalgan”. Technical requirements” and ST RK 3837 “Procedure for applying the marking mark “Kazakhstan zhasalgan”);

Additional Conditions

1) Financing under commercial credit is provided against collateral security, according to the Partner's Collateral Policy. Partners may also accept collateral security for Islamic leasing according to the Partner's Collateral Policy.

2) The Partner insures the subject of the Islamic lease.

3) The MSME insures the fixed assets acquired under commercial credit, as well as the collateral security provided under the Islamic lease agreement or commercial credit agreement.

4) The MSME carries out the valuation of the collateral security in one of the independent appraisal companies.

5) Expenses related to the registration of the pledge agreement with the authorized registration body and the removal of the encumbrance are carried out at the expense of the MSME.

Financing is prohibited

- Financing transactions for the acquisition of existing businesses and real estate for the purpose of continuing previous operations, as well as fictitious and sham transactions, is prohibited, with the exception of cases of launching a new business or resuming previously terminated operations in priority areas;

- for the purpose of refinancing MSME leasing transactions;

- for sub-leasing;

- the acquisition of imported fixed assets for which there are no equivalents from domestic manufacturers, such as:

- finishing building materials;

- equipment, special-purpose machinery, and spare parts;

- for entrepreneurial projects implemented in the types of activities specified in paragraph 4 of Article 24 of the Entrepreneurial Code of the Republic of Kazakhstan.

No.

Code of the General Classification of Types of Economic Activities (OKED)

Name

1. Manufacturing Industry

1

10.1

Processing and preserving of meat

2

10.2

Processing and preserving of fish, crustaceans and mollusks

3

10.3

Processing and preserving of fruits and vegetables

4

10.4

Manufacture of vegetable and animal oils and fats

5

10.5

Manufacture of dairy products

6

10.6

Manufacture of grain mill products

7

10.7

Manufacture of bakery and farinaceous confectionery products

8

10.8

Manufacture of other food products

9

10.9

Manufacture of prepared animal feeds

10

11.06

Manufacture of malt

11

11.07

Manufacture of soft drinks, mineral waters and other bottled waters

12

13.2

Textile manufacturing

13

13.3

Finishing of textiles and textile products

14

13.9

Manufacture of other textiles

15

14.1

Manufacture of wearing apparel, except fur apparel

16

14.2

Manufacture of fur apparel

17

14.3

Manufacture of knitted and crocheted apparel

18

15.1

Tanning and dressing of leather; manufacture of luggage, handbags, saddlery and harness; dressing and dyeing of fur

19

15.2

Manufacture of footwear

20

16.2

Manufacture of products of wood, cork, straw and plaiting materials

21

17.1

Manufacture of pulp, paper and paperboard

22

17.2

Manufacture of articles of paper and paperboard

23

20.1

Manufacture of basic chemicals, fertilizers and nitrogen compounds, plastics and synthetic rubber in primary forms (excluding fertilizers and nitrogen compounds)

24

20.2

Manufacture of pesticides and other agrochemical products

25

20.3

Manufacture of paints, varnishes and similar coatings, printing ink and mastics

26

20.4

Manufacture of soap and detergents, cleaning and polishing preparations, perfumes and cosmetics

27

20.5

Manufacture of other chemical products

28

20.6

Manufacture of man-made fibers

29

21.1

Manufacture of basic pharmaceutical products

30

21.2

Manufacture of pharmaceutical preparations and medical materials

31

22.1

Manufacture of rubber products

32

22.2

Manufacture of plastic products

33

23.1

Manufacture of glass and glass products

34

23.2

Manufacture of refractory products

35

23.3

Manufacture of clay building materials

36

23.4

Manufacture of other porcelain and ceramic products

37

23.5

Manufacture of cement, lime and plaster (excluding cement)

38

23.6

Manufacture of articles of concrete, cement and plaster (including ready-mix concrete)

39

23.7

Cutting, shaping and finishing of stone

40

23.9

Manufacture of abrasive products and other non-metallic mineral products

41

24.2

Manufacture of steel tubes, pipes, hollow profiles and fittings

42

25.1

Manufacture of structural metal products

43

25.2

Manufacture of tanks, reservoirs and containers of metal

44

25.3

Manufacture of steam generators, except central heating hot water boilers

45

25.9

Manufacture of other fabricated metal products

46

26.1

Manufacture of electronic components and boards

47

26.2

Manufacture of computers and peripheral equipment

48

26.3

Manufacture of communication equipment

49

26.4

Manufacture of consumer electronics

50

26.5

Manufacture of measuring, testing and navigation instruments; manufacture of watches and clocks

51

26.6

Manufacture of irradiation, electromedical and electrotherapeutic equipment

52

26.7

Manufacture of optical instruments and photographic equipment

53

26.8

Manufacture of magnetic and optical media

54

27.1

Manufacture of electric motors, generators, transformers and electricity distribution equipment

55

27.2

Manufacture of batteries and accumulators

56

27.3

Manufacture of wiring and wiring devices

57

27.4

Manufacture of electric lighting equipment

58

27.5

Manufacture of domestic appliances

59

27.9

Manufacture of other electrical equipment

60

28.1

Manufacture of general-purpose machinery

61

28.2

Manufacture of other general-purpose machinery

62

28.3

Manufacture of agricultural and forestry machinery

63

28.4

Manufacture of metal forming machinery and machine tools

64

28.9

Manufacture of other special-purpose machinery

65

29.2

Manufacture of bodies (coachwork) for motor vehicles; manufacture of trailers and semi-trailers

66

29.3

Manufacture of parts and accessories for motor vehicles

67

30.3

Manufacture of air and spacecraft and related machinery

68

30.9

Manufacture of other transport equipment n.e.c.

69

31.0

Manufacture of furniture

70

32.1

Manufacture of jewelry, bijouterie and related articles

71

32.2

Manufacture of musical instruments

72

32.3

Manufacture of sports goods

73

32.4

Manufacture of games and toys

74

32.5

Manufacture of medical and dental instruments and supplies

75

32.9

Manufacture of other finished products n.e.c.

2. Tourism

76

55.10

Accommodation services of hotels and similar establishments (excluding five-star hotels)

77

55.20

Short-term accommodation services (excluding apartments, flats and residential houses)

78

55.30

Camping grounds, recreational vehicle parks and trailer parks services

79

55.901

Dormitory services at boarding schools

80

55.902

Student dormitory services

3. IT and Creative Industry

81

58.2

Software publishing

82

59.1

Motion picture, video and television program production activities (excluding film exhibition)

83

59.2

Sound recording and music publishing activities

84

62.0

Computer programming, consultancy and related activities

85

63.1

Data processing, hosting and related activities; web portals

Sequence Number

Code of the General Classifier of Economic Activities

Name

1. Manufacturing Industry

2. Services and Other Types of Activities

Agriculture, Forestry and Fishing

Transportation and Storage

Accommodation and Food Service Activities

Real Estate Activities

Education

Human Health and Social Work Activities