RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of March 30, 2019 No. 40

About approval of Rules of implementation of currency transactions in the Republic of Kazakhstan

According to the subitem 43) of paragraph two of part two of Item 19 of the Regulations on National Bank of the Republic of Kazakhstan approved by the Presidential decree of the Republic of Kazakhstan of December 31, 2003 No. 1271 "About approval of the Provision and structure of National Bank of the Republic of Kazakhstan" and the subitem 2) of Item 3 of article 16 of the Law of the Republic of Kazakhstan "About the state statistics" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of implementation of currency transactions in the Republic of Kazakhstan.

2. Recognize invalid regulatory legal acts of the Republic of Kazakhstan, and also structural element of regulatory legal act of the Republic of Kazakhstan according to the list according to appendix to this resolution.

3. To department of paying balance and currency control (Kuandykov A. A.) in the procedure established by the legislation of the Republic of Kazakhstan to provide:

1) together with Legal department (Sarsenov N. V.) state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) within ten calendar days from the date of state registration of this resolution its direction in the Kazakh and Russian languages in the Republican state company on the right of economic maintaining "The republican center of legal information" for official publication and inclusion in Reference control bank of regulatory legal acts of the Republic of Kazakhstan;

3) placement of this resolution on official Internet resource of National Bank of the Republic of Kazakhstan after its official publication;

4) within ten working days after state registration of this resolution submission to Legal department of data on execution of the actions provided by subitems 2), 3) of this Item and item 4 of this resolution.

4. To management on consumer protection of financial services and external communications (Terentyev A. L.) provide within ten calendar days after state registration of this resolution the direction it to the copy on official publication in periodic printing editions.

5. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Smolyakov O. A.

6. This resolution is subject to official publication and becomes effective since July 1, 2019.

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of March 30, 2019 No. 40

Rules of implementation of currency transactions in the Republic of Kazakhstan

Chapter 1. General provisions

1. Rules of implementation of currency transactions in the Republic of Kazakhstan (further – Rules) are developed according to the subitem 43) of paragraph two of part two of Item 19 of the Regulations on National Bank of the Republic of Kazakhstan approved by the Presidential decree of the Republic of Kazakhstan of December 31, 2003 No. 1271 "About approval of the Provision and structure of National Bank of the Republic of Kazakhstan" and determine procedure residents and nonresidents of currency transactions in the Republic of Kazakhstan.

Rules include procedure:

implementation of currency transactions;

purchases and (or) sales of non-cash foreign currency in the domestic foreign exchange market of the Republic of Kazakhstan;

carrying out the transactions according to the bank account connected with removal, transfer and use of cash foreign currency.

2. The concepts used in Rules are applied in the values specified in the Law of the Republic of Kazakhstan "About currency control and currency exchange control" (further – the Law on currency control and currency exchange control).

In Rules also following concepts and reducings are used:

1) the BIN – business and identification number;

2) IIN – individual identification number;

3) threshold value of the amount of purchase of non-cash foreign currency – the size of the amount of purchase of non-cash foreign currency in the domestic foreign exchange market of the Republic of Kazakhstan in case of which achievement requirements for confirmation of the purposes of purchase of non-cash foreign currency for national currency in the domestic foreign exchange market of the Republic of Kazakhstan and its use on stated purposes are applied, determined according to part two of Item 6 of article 10 of the Law on currency control and currency exchange control;

4) the registration certificate – the document of the established sample issued in case of registration of the currency agreement before enforcement of Rules and not invalid;

5) National Bank – National Bank of the Republic of Kazakhstan;

6) the certificate on the notification – the document of the established sample issued on the currency agreement or the foreign bank account before enforcement of Rules and not invalid;

7) internal money transfer – the money transfer made by the legal entity with the structural divisions or between structural divisions of one legal entity.

Chapter 2. Procedure of currency transactions and the notification and (or) submission of data on the performed currency transactions

Paragraph 1. Implementation of currency transactions and submission of the notification and (or) data on the performed currency transactions

3. The authorized bank, the professional participant of the security market who are agents of currency exchange control perform currency transaction in the presence of the documents and (or) data provided by the resident or the nonresident according to Rules.

For the purposes of Rules if the payment currency and (or) money transfer differs from dollar of the United States of America (further – the USA), the equivalent of payment amount and (or) money transfer is calculated with use of the market rate of currency exchange on the date of carrying out transaction.

The rules of implementation of export-import currency exchange control in the Republic of Kazakhstan approved joint by the resolution of Board of National Bank of the Republic of Kazakhstan of September 29, 2023 No. 78 and the order of the Deputy prime minister – the Minister of Finance of the Republic of Kazakhstan of October 4, 2023 No. 1054 "About approval of Rules of implementation of export-import currency exchange control in the Republic of Kazakhstan" (are registered in the Register of state registration of regulatory legal acts at No. 33512) (further – Rules of implementation of export-import currency exchange control), according to Item 7 of article 5 of the Law on currency control and currency exchange control provide features of implementation of payments and (or) money transfers under currency agreements on the export or import which are subject to assignment of accounting number.

4. The payment and (or) money transfer on currency transaction of resident from the account of the nonresident in foreign bank, international financial institution for the purpose of obligation fulfillment of resident is performed in case:

1) transfers of the financial loan obtained by resident from the nonresident to accounts of the third parties;

2) rendering financial services in the security market to resident the nonresident having the right to implementation of professional activity in the security market by the legislation of the state where it is registered;

3) rendering by the nonresident to resident services in the agreement of the order.

5. When implementing payment and (or) money transfer under the currency agreement which is subject to assignment of accounting number, the resident specifies details of such agreement and its accounting number in payment documents. For identification of the arriving amounts the resident notifies the nonresident on need of specifying for payment documents on money transfer in own favor of details of the currency agreement and its accounting number.

When implementing payment and (or) money transfer under the currency agreement which is subject to assignment of accounting number, the authorized bank (its branch) checks availability in the payment document of details of the currency agreement and its accounting number.

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