Article 21. Requirements for making payments and/or money transfers for certain currency transactions of the Law on Currency Regulation and Currency Control

     1. Payments and (or) money transfers of residents (with the exception of authorized banks and branches (representative offices) of foreign organizations) for certain currency transactions, which may be aimed at withdrawing money from the Republic of Kazakhstan, evading compliance with the requirements of the currency legislation of the Republic of Kazakhstan, are carried out by authorized banks in accordance with the procedure provided for by the rules for currency transactions in the Republic Kazakhstan, and when presented by a resident who is the sender of money or the recipient of money, authorizing an authorized bank to transfer information about this payment and/or money transfer to currency control authorities and law enforcement agencies.

     2. The types and criteria of individual currency transactions, the conduct of which may be aimed at withdrawing money from the Republic of Kazakhstan, evading compliance with the requirements of the currency legislation of the Republic of Kazakhstan, are established by the rules for conducting currency transactions in the Republic of Kazakhstan.

     This Law regulates public relations related to the implementation of currency transactions, defines the goals and objectives of currency regulation and currency control.

President    

Republic of Kazakhstan     

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