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Kazakhstan banks to issue e-money

02 march 2011, 20:28
0
Photo courtesy of nnm.ru
Photo courtesy of nnm.ru
Kazakhstan banks will shortly be able to issue e-money. Respective legislation has been passed by the country’s Majilis (Lower Chamber of the Parliament) in the first reading today.

This law will introduce the notion of e-money, which is brand new to Kazakhstan.

According to the legislation draft, individuals will be able to make transactions worth no more than USD 5 000 a day. This limit is introduced for safety reasons.

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