2000-01-17 Kazak Politics & MacroEconomics - National Bank Explains

National Bank Explains New Currency Exchange Regulations

The National Bank of Kazakhstan recently specified new regulations for foreign currency exchange operations, the Kazakhstanskaya Pravda newspaper reported.

The central bank’s new regulations set the minimum charter capital for opening a currency exchange outlet at KZT 250,000. All operating exchange kiosks must comply with the new charter capital requirements by April 1.

Another change concerns the registration of large currency exchanges. Currency exchange outlets will have to fill out special certificates to report any currency exchange operations worth USD 200 or more. Purchases of foreign currency equalling or exceeding USD 3,000 will be subject to registration. (Golden Eagle Partners)

• Prev
• Next