OBS_VALUE: Prior to 2020, the authorized body in commercial banking sector has been the National Bank of the Republic of Kazakhstan. As from 2020, commercial banking sector is regulated by the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan. Under article 15 of the Law on state regulation of the financial market, an authorized regulatory body is independent in its activities. State bodies do not have the right to interfere in the activities of the authorized body for the implementation of its statutory powers, with the exception of cases stipulated by legislative acts of the Republic of Kazakhstan. However, the Agency is a state body directly subordinate and accountable to the President of the RK, and acts in accordance with acts of the President and the Government.