Validity of payment cards for non-residents to be limited to 12 months in Kazakhstan
ALMATY. Jan 14 (Interfax) - The Agency for Regulation and Development of the Financial Market (ARDFM) has set limits on the validity period of payment cards for non-residents of Kazakhstan, as well as the number an individual can have, according to an ARDFM resolution published on the country's system of regulatory and legal acts.
An exception applies to the validity period of cards issued to entrepreneurial entities, diplomatic staff and investors.
In addition, according to the new rules, holders of more than five cards from one bank (previously, the amount was ten cards) will be considered suspicious for a bank in terms of the risk of money laundering and terrorist financing. An exception is made for additional payment cards issued in the name of children, as well as for credit cards used for obtaining and repaying bank loans.
The resolution on amendments to certain regulatory legal acts of Kazakhstan on regulating the activities of financial organizations was adopted on December 31, 2024.