B. Sultanov has noted that cash settlements are one of the main issues of black economy.

Source: Novosty –Kazakhstan IA

B. Sultanov, the Minister of Finance supported on Thursday the previously announced idea  on setting the limits when chasing funds by legal entities in the second-tier banks, as informed by  Novosty –Kazakhstan IA.

“We have already announced an idea of setting a limit when cashing funds by legal entities in banks… we also suggest limiting cashing funds by legal entities from personal accounts in the second-tier –banks”, Sultanov said at the meeting of the collegiums of its agency.  

“In USA, France, Belgium and Mexico one set a limit to payment by cash. In our Republic, cash settlements between legal entities  in the amount of more than 1 thousand of Monthly Calculation Index   (1 million 852 thousand Tenge), but cashing funds from bank accounts is not limited,”- the Minister clarified. 

Source: Novosty –Kazakhstan IA