Is it time to leave off the dollar?
The National Bank of Kazakhstan will punish those who indicate the prices for goods, works and services in US dollars
NCE RK "Atameken" received a request from the National Bank of Kazakhstan on clauses 3.1.8, 3.1.9, 3.4.19 of the Action Plan on reduction of the level of dollarization of the Kazakh economy for 2015-2016.
The National Bank proposes to continue the execution of the clauses and to incorporate the clauses in the draft Law "On currency regulation and currency control". In particular, it is proposed to introduce a ban on measurement and indication of prices of goods and services in foreign currency, and violators of this requirement will be subject to an administrative liability. Moreover, the National Bank also offers to conduct exchange transactions with foreign currency on the territory of Kazakhstan only in exclusively authorized banks.
In this regard, NCE RK "Atameken" asks the business community not to stand aside and to send their comments and suggestions on the draft Law to the email address: finance@palata.kz until 15.00 am of 4th November of this year
The Action Plan on de-dollarization of the Kazakh economy for 2015-2016 can be found here.
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Сухотин Е.В.