Currency regulation in Kazakhstan

December 18, 2008 | BY

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Vsevolod Markov and Karlygash BissengaliyevaMcGuire [email protected], [email protected] 2000, Kazakhstan has been making…

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Vsevolod Markov and Karlygash Bissengaliyeva

McGuire Woods

Since 2000, Kazakhstan has been making a policy shift towards a stage-by-stage transfer to full convertibility of its national currency, the tenge, by 2007. The first stage resulted in the softening of the currency regulation regime related to non-residents' investments into securities and direct investments of residents abroad, which broadened the production potential of the Republic and created conditions for entering new, promising markets.

Entering into force in December 2005, theLaw on Currency Regulation and Currency Control began the second stage of liberalisation of the