Select all

PDF is loading

Please wait while the document is being prepared

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) as well as the full beneficiary's address.

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

In addition, a 12-digit fiscal code (BIN - Business Identification Number or IIN - Individual Identification Number) should be included in the remittance information. The structure should be the prefix BIN, followed by a space, followed by the code: "BIN 123456789". (see appendix XIV)

A 10-digit EKNP code should also be included in the remittance information. This code consists of the EKNP prefix, followed by a space, followed by KOD (2-digit remitter code), a KBE (2-digit beneficiary code), "KZT" and KNP (Purpose of Payment Code): "EKNP 1122KZT333". (see appendix XIV)

Moreover, in case of tax payments, it is mandatory to add a 6-digit KBK code, the budget classification code. (see appendix XIV)

To avoid payment delays, we recommend to follow a specific structure in the remittance information:

  • The 1st line should contain the purpose of payment

  • The 2nd line should contain the BIN/IIN code

  • The 3rd line should contain the EKNP code

  • The 4th line should containe the KBK code (only for tax payments)

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