Kazakhstan may ban cash outs by legal bodies

The State Agency for Control of Economic and Corruption Crime of Kazakhstan proposed a ban on cash outs by legal bodies at the conference on crime prevention in Astana, Interfax reports.

Marat Ahmetjanov, deputy head of the agency, said that states suffering from the global economic recession are trying to reduce cash turnover. Italy banned cash payments worth over €1000 in late 2011. Spain is taking similar measures.

The National Bank of Kazakhstan said that 968 billion tenge had been cashed out in the first half of 2012. The figure was growing every month. Such large sums of money are usually used for bribes and tax evasion.