Foreign Exchange Controls and Conversion

Foreign exchange controls

First Heartland Jýsan Bank conducts foreign currency transactions and by providing a wide range of services to its Clients:

  • monitoring of compliance of the foreign currency transactions with the legal and regulatory acts of the Republic of Kazakhstan;
  • consulting on compliance of terms and provisions of international business contracts, including draft contracts with foreign exchange legislation of the Republic of Kazakhstan;
  • consultations as to and assistance in filling in various forms o be submitted to the Bank in compliance with foreign exchange regulation and control regulatory legal acts;
  • preparation of transaction IDs (acceptance for foreign exchange controls) pertaining to contracts, which provide for transportation of the goods across the customs border of the Republic of Kazakhstan;
  • provision of copies and duplicates of foreign exchange control documents requested by the Clients;
  • notifying the Clients by telephone of credited amounts credited in foreign currencies, when issuing an account statement with the notice enclosed, as well as through the "Bank-Client" system;
  • notifying the Clients of any changes in the foreign exchange legislation of the Republic of Kazakhstan, giving clarifications as to the procedure for foreign exchange transactions and foreign exchange controls (transaction ID system, registration, notification).

The Bank takes any measures required to support its Clients' international contracts until they are implemented in full. A high professional client service level is the result of decades of experience.

The Bank provides free consulting to its Clients with regards to foreign exchange regulations and controls, which help its Clients conclude international deals and initiate a transaction ID without any delay. This reduces the time required for the customs clearance of the goods or payments and, hence, contributes to the timely fulfillment of contractual commitments.

The Bank's consultations with regards to responsibilities for failure to comply with the foreign exchange legislation, will prevent the Client from committing any violations and, hence, will protect the Client from administrative sanctions  that may be  imposed by foreign exchange regulatory and controlling authorities.

First Heartland Jýsan Bank contributes to its Clients' international contacts.

Awareness and a responsible approach are our routine practices.

 

Conversion

First Heartland Jýsan Bank offers its Clients the most favorable conditions to buy /sell (convert) foreign currencies in exchange for Tenge or another foreign currency.

It is possible to establish tailored exchange rates if large amounts are to be converted. The Bank's buying/selling rates are established depending on fluctuations in the exchange rates, as they are most closely approximate to the current interbank quotes.

Fees for the foreign currencies bought/sold in connection with bank loans servicing shall be charged according to relevant agreements.

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