Changes implemented as per ISO 20022
Changes implemented as per ISO 20022
As of January 13, 2025, changes related to payment documents will enter into force in Kazakhstan. One of the main updates are new fields for adding actual payer/recipient, country of residence of transmitter/beneficiary.
- Actual Payer is a person or organization on whose behalf a payment is made.
- Actual Recipient is a person who receives funds or to whom the payment is made.
It is not required to specify the actual payer, actual (ultimate) recipient, if they coincide in one person respectively with the transmitter, beneficiary.
- Country Of Residence of Transmitter/Beneficiary is indicated only for non-residents.
When specifying the country of residence, it is necessary to use the international two-letter country code corresponding to ISO 3166-1-2016.
These changes will help to improve the accuracy and transparency of payments, especially with the participation of several parties. It is recommended to prepare your systems in advance to work with new requirements.
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