Kazakhstan: New cash instruction format requirements for KZT cash payments
Effective
immediately
there is a new format requirement for MT202 when using Citibank Kazakhstan JSC as cash correspondent bank (CCB) for the Kazakh Tenge (KZT).
Impact on instructions
With regard to cash payment instructions in KZT, customers should note that it is mandatory to include the following details in the Sender to Receiver Information (fields:58: and :72: in SWIFT MT202):
:58D:/KZxxxxxxxxxxxxxxxxxxxx
Beneficiary name
BIN nnnnnnnnnnnn
EKNP xxyyKZTzzz
where:
xxxxxxxxxxxxxxxxxxxx is the beneficiary’s 20 character IBAN
nnnnnnnnnnnn is the beneficiary’s 12-digit Business Identification Number (BIN);
xx is the 2-digit Remitter’s Code (KOD);
yy is the 2-digit Beneficiary Code (KBE);
zzz is the 3-digit Purpose of Payment Code (KNP)
:72: Payment details (text format mandatory for each payment)
must match with the text of the respective KNP code transaction type description (see below).
KOD code
The KOD code is 2 digits “xx” representing the remitter code
The remitter code for a Clearstream Banking participant is always 25
KBE codes
KBE codes are 2 digits “yy” representing the beneficiary code
The beneficiary code for a domestic counterparty is derived from the tables below:
The first digit indicates the type of residency:
| 1 | Resident |
| 2 | Non-resident |
The second digit indicates the sector of economics:
1 | government (central administration bodies) |
2 | regional and local administration bodies |
3 | central banks (national banks) |
4 | monetary and depositary finance corporations (banks) |
5 | non-depositary finance corporations (organisations performing some bank activities) |
6 | state non-finance corporations |
7 | private non-finance corporations |
8 | not-for-profit organisations |
9 | individuals, self employed population |
KNP code transaction type description
The Purpose of Payment code (KNP) describes the nature of the payment and has been classified in accordance with instructions of the National Bank of Kazakhstan.
The most common KNP codes are as follows:
KNP Code | Transaction type description |
010 | Obligatory pension contributions |
012 | Obligatory social contributions |
213 | Purchase of foreign currency against KZT outside the stock exchange |
223 | Sale of foreign currency against KZT outside the stock exchange |
230 | Foreign currencies conversion (without involving KZT) |
290 | FX penalties |
311 | Placement of demand deposit |
312 | Placement of short term deposit (up to 1 year) |
314 | Placement of long term deposit (over 1 year) |
321 | Withdrawal of demand deposit (own funds transfer) |
322 | MM deal close (take-up) |
411 | Disbursement of short term loan (up to 1 year) |
413 | Disbursement of long term loan (over 1 year) |
421 | Repayment of short term loan (up to 1 year) |
423 | Repayment of long term loan (over 1 year) |
563 | Coupon payment on non-government securities and bills issued by non-residents of Kazakhstan |
663 | Coupon payment on non-government securities and bills issued by residents of Kazakhstan |
710 | Payment for goods (except apartment) |
841 | Payment for financial services |
859 | Payment for services |
911 | Payment to tax authorities |
Receipt of funds at Citibank Kazakhstan JSC
Customers should ensure that, when paying an amount in KZT to Citibank Kazakhstan JSC in favour of Clearstream Banking, their cash correspondent bank provides the following details:
- Account number of Clearstream Banking S.A. (as beneficiary) at Citibank Kazakhstan JSC – KZ6283201T0150269008
- Beneficiary Code (KBE) of Clearstream Banking S.A. - 25
- Business Identification Number (BIN) - 000000000000
- Purpose of payment code (KNP) to comply with currency control requirements.
Straight-through processing
In order to ensure straight-through processing, all the above details are required. An instruction that omits these details or includes incorrect details will need to be cancelled and a new instruction input.
Note: Backvaluation is not possible in Kazakhstan.
Further information
For further information, customers may contact Clearstream Banking Customer Service or their Relationship Officer.
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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.