The Law of Kazakhstan On payments and payment systems is to control market regulation and money transfers
Free access to information on foreign funding to open Kazakhstanis eyes. The Law of Kazakhstan “On payments and payment systems” published on August 10, 2016; it comes into force from October 10. At the request of BNews.kz a known Kazakhstani economist Rakhim Oshakbayev comments for our readers the main changes in the legislation.
A well-known Kazakhstani economist, former vice-minister, sure that the law gives a lot of advantages. The most important of them can be understood by reading the main objectives:
“The law will affect the activities occuring in the organization and payment systems operation, regulation and oversight over them, the payment service market regulation and control over them, as well as payments and (or) money transfers in Kazakhstan,” said the expert.