Currency Control

The currency legislation of the Republic of Kazakhstan is based on the Constitution of the Republic of Kazakhstan and consists of the Law of the Republic of Kazakhstan “On Currency Regulation and Currency Control” No. 167-VI dated 02.07.2018 and other legislative acts of the Republic of Kazakhstan and regulatory legal acts of the currency regulation authorities, the main of which are:

• Rules for Carrying Out Currency Transactions in the Republic of Kazakhstan No. 40 dated 30 March 2019

• Rules for Carrying Out Export-Import Currency Control in the Republic of Kazakhstan No. 78 dated 29 September 2023

• Rules for Monitoring Currency Transactions in the Republic of Kazakhstan No. 64 dated 10 April 2019

• Rules for Currency Regulation and Provision of Information on Currency Transactions Carried Out in the AIFC No. 6 dated 10 November 2021

In accordance with the above legislative acts, Shinhan Bank Kazakhstan JSC acts as a currency control agent and monitors compliance with the requirements of the currency legislation of the Republic of Kazakhstan when carrying out transactions, including those on behalf of clients. Authorised bank employees provide clients with a full range of services on currency regulation and currency control matters, namely:

• advising clients on drawing up foreign trade contracts from the standpoint of compliance with currency legislation

• recommendations on the use of various forms of international settlements for foreign trade transactions

• advising clients on currency legislation matters at any stage of a transaction, including structuring complex and non-standard contracts