/KASE, August 5, 13/ – The Committee on Regulation and Supervision of
Financial Market and Financial Organizations of the National Bank of
the Republic of Kazakhstan published on August 5, 2013 on its website
http://www.afn.kz the following press release "On sanction for improper
implementation by banks of financial monitoring procedures, stipulated
by the Law of the Republic of Kazakhstan "On resistance of legalization
(laundering) of income, received illegally and financing of terrorism":
quotation
For improper implementation by banks of financial monitoring procedures
stipulated by the Law of the Republic of Kazakhstan "On resistance of
legalization (laundering) of income, received illegally and financing of
terrorism" considering violations and related risks the Management Board
of the National Bank of the Republic of Kazakhstan on July 26, 2013 adopted
the resolutions On suspension of banking and other operations and activities
on the securities market, issued to Joint Stock Company Halyk Savings Bank of
Kazakhstan, Joint Stock Company Eurasian Bank and Joint Stock Company Citibank
Kazakhstan in terms of exchange operations in cash foreign currencies for 1
month.
According to the decisions made during the period before recommencement of
the licenses the banks have no right to implement operations with clients on
buying and selling of cash foreign currencies, also the banks need to undertake
measures of detected shortages in the internal control system and procedures
of collection of data and informing on operations subject to the financial
monitoring. The temporary suspension of implementation by banks of mentioned
operations with clients on buying and selling of cash foreign currencies does
not restrict implementation by these banks of conversion cashless transactions
with client and operations on withdrawal (enter) of cash foreign currencies
from accounts (on accounts), opened in the banks.
Servicing of deposits and accounts of both individuals and legal entities
in any currency will be implemented without any changes.
Provision of services to the population on buying and selling of cash foreign
currencies in the necessary volume is implemented in the previous mode by
exchanges offices of other banks and authorized organizations.
Reference: As of July 1, 2013, in the Republic of Kazakhstan were registered
3038 exchange offices of authorized banks and authorized organizations.
ends
[2013-08-05]