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KZT – Kazakhstani Tenge

Overview

The payment processing of this currency is considered to be complex, due to the amount of information that needs to be provided and due to the fact that the beneficiary’s bank might need to contact the client to release the funds.

Currency Guidelines

Besides the standard information, the IBAN format is mandatory (see Appendix VI).

A clear reason / purpose of payment is mandatory and consists of a full written description (in English) of the nature of payment to be provided in the remittance information. For example: providing an invoice number without guiding text is considered as insufficient and can result in errors or delays.

Example: Payment of travel expenses – invoice n° 123456789

Additionally, it is mandatory to provide in the remittance information:

• The beneficiary’s identification code, BIN code for legal entities or IIN code for individuals

• A Single payment classification code (EKNP): the Single Payment Classification Code is made up of 10 characters and must be labelled EKNP.

• The first two digits are

• 24 if the ordering party is a foreign bank

• 17 if the ordering party is a resident legal entity

• 27 if the ordering party is a non-resident legal entity

• The next 2 digits (third and fourth digits) will be the beneficiary code (KBE code)

• The following 3 characters (fifth, sixth and seventh digits) will be "KZT" 

• The last 3 digits will be the payment detail code (KZT payment details code)

See Appendix XIV for details.

Moreover, in case of tax payments, it is mandatory to add the BCC code (6 digits), the budget classification code. It is important to note that these payments might require more information. Please contact your Account Manager.

Instructions, technical guidelines & more

To consult the Technical Guidelines of this currency, click here

TECHNICAL GUIDELINES

To consult the Appendix(es) click here

Appendix VI: IBAN Application Rules
Appendix XIV: Single payment classification code digits (EKNP)
Additional information

• Available charge options: OUR

• Additional information:

According to the Central bank’s Article 19: “The Obligation to Submit Information and Documents

1. Residents, and non-residents performing activities in the Republic of Kazakhstan, shall be required to submit reports, information, and documents on their currency operations to the currency regulation and control authorities and to currency control agents in fulfilment of requirements established by this Law.

2. Residents and non-residents shall be required, when so requested by authorised banks, to state the purpose of payments and transfers of money in currency operations carried out through them, and to submit documents supporting the stated purposes of money transfers and payments in fulfilment of requirements established by this Law.”

• Public services and information online: http://egov.kz/wps/portal/index

• For the BCC codes, please find the list here: http://egov.kz/wps/portal/Content?contentPath=/egovcontent/bus_tax_finance&lang=en

• Central Bank of Kazakhstan: http://www.nationalbank.kz