Kazakhstan’s President Kassym-Jomart Tokayev signed a decree on some measures to stabilize the economy. The full text of the decree is published by the press service of the President: In accordance with the Decree of the President of the Republic of Kazakhstan dated March 16, 2020 No. 286 "On measures to ensure socio-economic stability
1. The National Bank of the Republic of Kazakhstan for the period until December 31, 2020, is mandated:
1) to determine the maximum amounts of cash that are allowed to be withdrawn by legal entities from bank accounts within a calendar month;
2) to determine categories of legal entities that are not subject to the requirement provided for in subparagraph 1) of this paragraph;
3) together with the Ministry of Finance of the Republic of Kazakhstan and the Agency of the Republic of Kazakhstan on regulation and development of the financial market, to determine the procedure for legal entities to withdraw cash from bank accounts, with the exception of legal entities defined in accordance with subparagraph 2) of this paragraph, including those regulating cash withdrawals in excess of the maximum amounts established in accordance with subparagraph 1) of this paragraph, as well as the procedure for providing information to the Ministry of Finance of the Republic of Kazakhstan on cash withdrawal by legal entities in excess of the maximum amounts established in accordance with subparagraph 1) of this paragraph.
2. The Agency of the Republic of Kazakhstan on regulation and development of the financial market to monitor compliance of financial organizations that open and maintain bank accounts of legal entities, the procedure for cash withdrawals by legal entities from bank accounts, specified in subparagraph 3) of paragraph 1 of this Decree.
3. The Administration of the President of the Republic of Kazakhstan shall be authorized to oversee the execution of this Decree.
4. This Decree shall enter into force from the day of its signing.
Reported by the Kazakhstanskaya Pravda.
