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02 March 2011 | 20:28

Kazakhstan banks to issue e-money

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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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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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