Atameken collects public opinions on high-profile issue of currency exchange offices
The issue of arranging foreign currency exchange operations in cash in Kazakhstan will be considered on the Atameken site.
The Atameken National Chamber of Entrepreneurs of the Republic of Kazakhstan received a draft resolution of the Board of the National Bank of the Republic of Kazakhstan "On Amendments and Additions to the Resolution of the Board of the National Bank of the Republic of Kazakhstan dated April 4, 2019 № 49 "On Approval of the Rules for the organization of foreign currency exchange operations in cash in the Republic of Kazakhstan" (hereinafter referred to as the Project).
The draft provides for the following amendments:
1. Authorized organizations (exchange offices) should increase their authorized capital up to 100,000,000 tenge. According to the current version, 30 million tenge for exchange offices in cities of national importance, 20 million tenge - for urban exchange offices and 10 million tenge - for regional ones.
2. The exchange offices will have to ensure the availability of money in tenge or foreign currency in their bank accounts in the amount of 20% of the charter capital (additional reserve).
3. When exchanging any amount, the customers will need to provide information about passport data, IIN, and place of residence (today these requirements are valid only for transactions over 500,000 tenge).
Changing the mode of operation of the exchange offices from 10 a.m. to 7 p.m. Currently, the work regime of the exchange office is regulated by the owner.
As these changes affect the interests of a significant number of subjects of SMEs the Atameken informs about the public collection of opinions, comments, as well as proposals.
To develop a common position, we suggest you review the Draft Law. Please send your comments and suggestions to the Draft by August 12 to the email: a.tazhibaeva@atameken.kz or call 8 (7172) 919-358.
The text of the Project can be found at the Atameken website in the "Business and Law" tab, or on or by clicking the link.
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