Ministry of Finance stands for limiting bank cash withdrawals for legal entities

February 27, 2014

Minister of Finance of Kazakhstan Bakhyt Sultanov stands for imposing a legislative restriction on bank cash withdrawals for legal entities.

“Cash payment is a sore spot. Some countries restricted cash payments. Kazakhstan set the ceiling limit for cash payments between legal entities at 1,000 MCI, but cash withdrawals from bank accounts are still free from any restraints,” he said at the Ministry’s board meeting on Thursday Astana.

Monthly Calculated Index MCI is 1,852 tenge.

“Similar suggestions have been voiced earlier. We also speak for legislating such restriction,” said the Minister.