Kazakhstan Clarifies Mobile Money Transfer Rules: What You Need to Know

Kazakhstan's Ministry of Finance clarifies rules for mobile money transfers up to 1 million tenge. Recent changes to regulations regarding mobile money transfers in Kazakhstan have caused confusion among citizens and businesses. The Ministry of Finance has stepped in to clarify the rules, aiming to balance security concerns with the convenience of mobile transactions. Deputy Minister Dauren Kenbeyev explained the new guidelines in a recent video, stating, "If you receive more than 1 million tenge in three months, or 330,000 tenge per month, be prepared for checks." However, he reassured citizens that transparent transactions pose no cause for alarm. This move aims to prevent financial crimes while maintaining the ease of use of mobile payment systems, a crucial aspect of modern life in Kazakhstan.