Relief from the asset risk charge for assets excluded from Eligible Capital "in accordance with the table B1": the phrase can be read two ways (PINS and TRR)

PINS Schedule 5, paragraph 4.4: an insurer "need not include an amount in the asset risk charge for any asset excluded from Eligible Capital in accordance with the table B1 in paragraph 4.1". Table B1 sets charges and excludes nothing from Eligible Capital; the exclusions are in Schedule 3, paragraph 5. If the words "in accordance with the table B1" go with "the asset risk charge", the relief covers assets excluded under Schedule 3, which is the evident purpose. If they go with "excluded", the relief covers no asset. TRR Schedule 5, paragraph 4.4 is the same.

Proposed correction

Please make the reference clear, for example "... for any asset excluded from Eligible Capital under paragraph 5 of Schedule 3", in both rulebooks.

Jurisdiction

Kazakhstan — AIFC

Act

AIFC Insurance and Reinsurance Prudential Rules

Place

PINS Schedule 5 para 4.4

Record

Question of reading or data

Class

Question of reading or data

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.

An AIFC-Incorporated Insurer need not include an amount in the asset risk charge for any asset excluded from Eligible Capital in accordance with the table B1 in paragraph 4.1.

An AIFC-Incorporated Insurer must deduct the following inadmissible assets from the total of Tier 1 Capital and Tier 2 Capital:

other non-reinsurance assets not mentioned in this table

asset excluded from Eligible Capital in accordance with the table B1 in rule 4.1.

How to check it without Arxo's tools

1. Open AIFC Insurance and Reinsurance Prudential Rules and find PINS Schedule 5 para 4.4; PINS Schedule 3 para 5.3; PINS Schedule 5 Table B1 item 11. Compare the text with the quotation above. A copy is kept in this register: 3f9031ccaf1b4673-aifc-insurance-and-reinsurance-prudential-rules.pdf (SHA-256 3f9031ccaf1b4673811786d2cd011df2d712e9245c96f21c34fbf532bfcbfff7, copy of the official file).
2. Open AIFC Takaful and Retakaful Prudential Rules and find TRR Schedule 5 4.4. Compare the text with the quotation above. A copy is kept in this register: f0a0b4a6a254d390-aifc-takaful-and-retakaful-prudential-rules.pdf (SHA-256 f0a0b4a6a254d390fd8452b3b783b3ef05b4fce958ae8bec7843054790e83364, copy of the official file).
3. 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 Insurance and Reinsurance Prudential Rules
• AIFC Takaful and Retakaful Prudential Rules

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-2026-0134, https://arxo.io/findings/ARXO-2026-0134/ (status as of 2026-10-24). Data: ARXO-2026-0134.json.