Operational risk policy rule copied from market risk: Governing Body must ensure a bank-wide view of 'Market Risk exposures'

BBR 7.1(5) repeats 6.1(4) word for word except for the name of the policy: the operational risk management policy must give "a comprehensive bank-wide view of its Market Risk exposures" and take into account "the risk of a significant deterioration in market liquidity of its exposures". BBR 7.1(4)(d) likewise ties the review of the operational risk policy to the "nature, scale and complexity of its Trading Book activities" (copied from 6.1(3)(d)). The substance is partly covered elsewhere: 7.5(1)(a) requires the bank to identify operational risks in all its products, activities, processes and systems, and 7.5(1)(f) requires reporting to the Governing Body.

Proposed correction

Please read "Operational Risk exposures" for "Market Risk exposures" in 7.1(5) and "its business" for "its Trading Book activities" in 7.1(4)(d), and confirm whether the words on market liquidity in 7.1(5) are meant to stay.

Jurisdiction

Kazakhstan — AIFC

Act

AIFC Banking Business Prudential Rules (BBR), V6

Place

BBR 7.1(5), p.70

Record

Discrepancy

Class

Text of the act

Where it arose

The text of the act

Arxo's conclusion

Confirmed

Official text

Unchanged at last check

Last checked

2026-10-24

Evidence

Contradiction within the text. Quotations are verbatim from the official material; translations are ours and marked.

A Bank’s Governing Body must ensure that its Operational risk management policy enables it to obtain a comprehensive bank-wide view of its Market Risk exposures

A Bank’s Governing Body must ensure that its Market Risk management policy enables it to obtain

ensure that it identifies and assesses the Operational Risks inherent in all the Bank’s products, activities, processes and systems;

ensure that appropriate reporting mechanisms are in place at its Governing Body, senior management, and business line levels to support effective management of the Bank’s Operational Risk;

How to check it without Arxo's tools

1. Open AIFC Banking Prudential Rules_V6 (with amendments as of 13 April 2025, which commence on 13 October 2025) and find BBR 7.1(5), p.70; BBR 6.1(4) (source); BBR 7.5(1)(a); BBR 7.5(1)(f). Compare the text with the quotation above. A copy is kept in this register: 6384caa7b1938818-bbr_v6_13.10.2025_ma.pdf (SHA-256 6384caa7b19388180b780ec19044e1261cae3021c63c670f14ceb35285107022, copy of the official file).
2. The finding holds if the quoted passages read as shown and the comparison gives the result stated at the top of this page. If it does not, write to us with the record ID.

How this finding was made

AI agents read the official texts, turned the provisions concerned into executable rules and ran the comparison; they also drafted this record. A person at Arxo checked the finding and approved the report before it was sent (2026-10-27).

Responsible institutions

• Astana Financial Services Authority (AFSA) — author of the AIFC Rules

Reported to

Responses

No response recorded.

Documents and reproduction

• AIFC Banking Prudential Rules_V6 (with amendments as of 13 April 2025, which commence on 13 October 2025)

History

1. 2026-10-24Confirmed by Arxo
2. 2026-10-27Entered in the register
3. 2026-10-27Reported to Astana Financial Services Authority (AFSA) (e-mail)

Cite this record

Arxo Law, Arxo Findings Register, ARXO-2026-0128, https://arxo.io/findings/ARXO-2026-0128/ (status as of 2026-10-24). Data: ARXO-2026-0128.json.