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Kazakhstan

Beginning September 22, 2014, payments processed in the Kazakhstani tenge (KZT) require the use of a payment code known as KNP or 7-digit UPDC code. The KNP is a 3-digit number that describes the nature of the payment as classified by National Bank of Kazakhstan and must be included for all payments.

The Republic of Kazakhstan made the use of International Bank Account Numbers (IBANs) and Bank Identification Codes (BICs) mandatory in June 2010. If you are paying a beneficiary in Kazakhstan or initiating a payment from an account in Kazakhstan, you must provide the beneficiary's IBAN and the beneficiary bank's SWIFT BIC in the payment instructions. Failure to provide an IBAN may result in that payment being rejected, delayed or incurring additional charges.

For more payment formatting information, please visit the section titled "Kazakhstan" in J.P. Morgan's Treasury Services' Global Payment Guide 2013-2014.

For complete information concerning the use of the IBAN in the Republic of Kazakhstan, please consult The National Bank of Kazakhstan web site.

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