The National Bank of Kazakhstan plans to change the requirements for issuing payment cards to foreign citizens and introduce cash withdrawal limits from ATMs for underage Kazakhs.
A draft resolution on this matter has been published on the "Open NPA" portal and will be open for public discussion until November 9, Ritmeurasia.ru reports.
The National Bank of Kazakhstan has explained the need to tighten the issuance of cards to non-residents due to the discovery of approximately 1,500 bank cards held by foreigners with turnovers amounting to billions of tenge. These cards were found to have been used for the sale of narcotics.
Amid the rise in internet fraud and "illegal operations using electronic tools," there have been increasing cases where foreigners apply for payment cards without visiting a bank or with only a "one-time visit to Kazakhstan," according to the National Bank of Kazakhstan.
In light of this, the Agency for Financial Monitoring, the National Bank of Kazakhstan, and the Agency for the Regulation and Development of the Financial Market have proposed a project in which a payment card can be obtained only through personal presence and based on documents confirming the necessity of being present in Kazakhstan.
CentralasianLIGHT.org
October 31, 2023