The National Bank of Kazakhstan has announced a change in the conditions for withdrawing cash from bank accounts for legal entities.
The rule on setting limits on the amount of cash withdrawal, approved by the decision of the NBK Board today, will enter into force on June 1, 2020.
The rule does not apply to:
- individuals;
- individual entrepreneurs;
- microenterprise entities;
- legal entities purchasing agricultural food products, fishery products;
- legal entities involved in the retail sale of food, beverages, pharmaceutical, medical and orthopedic goods.
The National Bank sets the following limits for cash withdrawals from bank accounts of legal entities:
- for small business - 20 million tenge per calendar month;
- for medium-sized businesses - 120 million tenge per calendar month;
- for large business - 150 million tenge per calendar month.
Exceeding the established limits is allowed when legal entities provide appropriate justification to second-tier banks. In turn, the second-tier banks coordinate the application for an increase in the amount with the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan within 3 working days.
Reported by the Kazakhstanskaya Pravda.
