On September 10 of this year, the Law of the Republic of Kazakhstan dated July 26, 2016 No. 11-VI 'On Payments and Payment Systems' came into effect, according to which seizure of funds in clients' bank accounts under an educational savings deposit agreement concluded in accordance with the Law of the Republic of Kazakhstan dated January 14, 2013 No. 67-V 'On the State Educational Savings System' is not allowed.
For your information:
Under the State Educational Savings System, citizens of the Republic of Kazakhstan can open long-term deposits, which will subsequently be used to pay for professional, higher, and postgraduate education.
This deposit accrues banking rewards (14%) and an annual state bonus (5-7%). The state bonus rate is 5% per annum, while for priority categories of children, it is 7% per annum, including orphans, children with disabilities, and children from low-income, large families.
In the event that the child receives a state educational grant, all accumulated funds become fully available to the depositor.