Buying Currency from 500 Thousand Tenge: New Requirements Introduced

The National Bank of Kazakhstan has approved new rules for exchange operations, tightening client identification requirements when buying or selling foreign currency and gold in large amounts. According to the document, for transactions of 500,000 tenge or more, clients must provide an ID, Individual Identification Number (IIN), and legal address.

The resolution was signed on December 2 and will come into effect on December 22, while some provisions will start applying from January 1, 2026.

Exchange offices are required to record an expanded list of data in their registration log, including:

• IIN;
• ID details – type, number, issue date, and expiration date (for clients without an IIN);
• Legal residential address;
• Full name (if indicated in the document).

The same requirements apply to transactions with gold bars worth more than 500,000 tenge.

Additionally, the National Bank has reduced the reporting adjustment period for authorized banks and exchange offices from six months to one month. The reporting format for cash currency purchase and sale operations has also been expanded.

The changes aim to increase the transparency of financial transactions and strengthen control over large cash operations.