National Bank refuses to tighten cashing in limits for small businesses

The National Bank of Kazakhstan hasn’t changed official limits for withdrawing cash from banks for small businesses, even though several state agencies demanded the regulator to do so, according to the National Entrepreneur Chamber Atameken.

In January 2023, the country’s authorities suggested the National Bank cut the cashing in of money limits by half ($22,348), citing the fight against money laundering. In turn, Atameken wanted the regulator to do the opposite.

On June 1, 2020, Kazakhstan adopted the following cashing-in of money limits for small, medium-sized and large-sized businesses: $44,697, $268,182 and $335,227, respectively.

A company can withdraw more cash only if it notifies its bank beforehand. In this case, a bank should report to the State Revenue Committee and get approval within three days.

The limits do not apply to micro businesses as well as food companies, grocery stores and pharmacies.