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Monetary policy Financial stability Currency regulation Financial supervision Payment Systems Currency of the Republic of Kazakhstan Statistics
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Currency regulation

Currency legislation
Organization of exchange operations with foreign currency in cash
Currency operations’ notification and registration regimes
Currency monitoring
Export and import currency control

Currency  regulation

The goal of currency regulation is assisting public policy on achieving stable economic growth and providing economic security of the Republic of Kazakhstan in reducing risks  for stability of domestic exchange market of the Republic of Kazakhstan and stability of balance of payments of the Republic of Kazakhstan.

The objectives of currency regulation are:

1) establishing the procedure of circulation of currency valuables in the Republic of Kazakhstan;

2) creating conditions for further integration of the Republic of Kazakhstan into the world economy;

3) providing informational base on currency operations and capital flows. Information on currency operations, which  contains  statistical and analytical data on residents’ international operations and their external assets and external debt, is also used when forming statistics of external sector of the Republic of Kazakhstan.

The main authority of currency regulation in the Republic of Kazakhstan is the National Bank.

The government of the Republic of Kazakhstan and other public agencies carry out currency regulation within the scope of their competence.

 

Currency control

The goal of currency control is ensuring compliance with the legislation of the Republic of Kazakhstan by residents and non-residents of the Republic of Kazakhstan when carrying out their currency transactions.

The objectives  of currency control are:

1) determining compliance of performed currency operations with legislation of the Republic of Kazakhstan;

2) verifying the justifications for payments on currency transactions and existence of required documents for carrying out the transactions;

3) verifying the completeness and objectivity of accounting and reporting of currency transactions.

The authorities of currency control are National Bank and other public authorities within the scope of legislatively established powers. The agents of currency control are authorized banks and authorized organizations.

Currency control is carried out by inspection and other forms of control and supervision (article 62 of the Republic of Kazakhstan Law “Concerning the National Bank of the Republic of Kazakhstan”).

National Bank applies the measures of influence and the sanctions for the violation of currency legislation according to the law of the Republic of Kazakhstan.


  
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