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Clearstream Banking SA

10/25/2017 | Press release | Distributed by Public on 10/25/2017 10:40

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:

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.