Outdoor currency exchange rate boards officially banned in Kazakhstan

Tengrinews.kz – Kazakhstan has officially banned outdoor currency exchange rate displays. From now on, such displays must be located only inside exchange offices.

What happened

As of September 9, a new resolution by the National Bank of Kazakhstan has come into force, amending the rules for conducting foreign currency exchange operations. The resolution was published on July 10 and took effect 60 calendar days after its first official publication — on September 9.

What has changed

Currency exchange rate displays (buying and selling rates) must now be located inside the exchange office or next to the cashier’s counter.

It is now prohibited to place exchange rate boards outside (on building facades, rooftops, or street stands), unless the exchange office is located in a business center, train station, casino, airport, or border checkpoint.

For automatic exchange kiosks, the rates may be displayed on a monitor.

Background

Discussions about banning outdoor currency boards in Kazakhstan began back in March. At that time, the National Bank noted that exchange offices were placing such displays virtually anywhere — along roads, on building facades, near crosswalks, and even next to traffic signs. These boards are not officially considered advertisements.

However, in some cases, they were said to distract drivers and create hazardous situations on the roads. This prompted the proposal to revise the placement rules.

In response, the Kazakhstan Association of Exchange Offices stated that the initiative violates the rights of entrepreneurs and consumers.