I congratulate everyone on the day of unity and work! Now, we are engaged in the business of a client who is held administratively liable for failure to return the currency transferred to a foreign non-resident under a foreign economic transaction.  Notably, our client resident pays a certain amount of money to a non-resident, in return does not receive anything due to the unfairness of a non-resident, tries to deal with a non-resident within the legal framework to the extent that ineffective tools of international influence allow to be made available to us – the residents of Kazakhstan. And, as a result, some short period of time expires and he is fined for several millions. Well, the practice of applying laws is contradictory and very often flawed, but, more importantly, the law itself is archaic – a rule of law that allows companies to be held accountable for the non-return of money from non-residents associated with the norms of the law aimed, in my opinion, to maintain financial stability, control over the movement of capital, the fight against money laundering and the gray market, and finally, to maintain the liquidity of our banks, because in a competitive environment, many of them are bankrupts.

Previously, in Soviet times, punishments for violations of currency legislation were stricter, even up to the death penalty, but in those times, it at least had some meaning and logic, resulting from the state system, political structure and ideology of the socialist state (I do not support the death penalty), but now, in capitalist Kazakhstan, I don’t see any sense in currency control, and especially in its most reactionary part, the repatriation of currency. The civilized West, of  which we always love to take an example, long ago abandoned this archaic. Of economic leaders and successful state formations, only in China there are such phenomena, but this is a completely different society that professes and promotes other values. In  Russian Federation, now, there is a desire to simplify and facilitate currency control, but even then, only under the influence of sanctions of recent years, as a result of which, Russian companies that have fallen under the effect of sanctions are not physically able to fulfill the requirements imposed on them by currency legislation and control .

We, unequivocally, should move towards simplification and facilitation of currency control, having in view, subsequently, its phased, but complete abolition. And in terms of the thoughtless, indiscriminate bringing to responsibility of bona fide companies in the Republic of Kazakhstan, it is necessary now to undertake something and finish this practice, giving the opportunity to bona fide companies to stay as they are.

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