Kazakhstan’s National Bank tightened rules for purchase of currency by individuals for the amounts exceeding 1 million tenge

Almaty. February 29. Silkroadnews – When purchasing the foreign currency in excess of 1 million tenge at the exchange offices the individuals shall show their identity documents, the document “On amendments and additions to the Decree of the National Bank of Kazakhstan (.. ) “On approval of rules for the exchange operations with foreign currency cash in the Republic of Kazakhstan””.
“To fight the money laundering and financing of terrorism, as well as to increase the transparency of exchange operations, the limit for buying/selling the foreign currency which requires an individual’s identity check in the registry journal has been reduced from 2 million tenge to 1 million tenge equivalent at the rate of exchange operations,” - stated in publication made on National Bank’s website on Monday.
Thus, to carry out exchange transactions through the currency exchange in excess of 1 million tenge an individual shall show an identity document.