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Kazakhstan limits online card issuance for young adults

Economy Materials 31 March 2025 20:37 (UTC +04:00)
Kazakhstan limits online card issuance for young adults
Madina Usmanova
Madina Usmanova
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ASTANA, Kazakhstan, March 31. Citizens of Kazakhstan aged 18 to 21 will now be required to visit a bank branch to issue or reissue payment cards, as online processing is no longer available, Trend reports.

This became known from a draft regulation by the Agency for Regulation and Development of the Financial Market of Kazakhstan.

“The establishment of business relationships, issuance, and reissuance of payment cards remotely or through a representative is not allowed for clients aged 18 to 21,” the draft regulation of the Agency for Regulation and Development of the Financial Market states.

Additionally, according to the new draft regulation, when Kazakhstani citizens aged 14 to 18 receive banking services online, their transactions will need to be confirmed by their parents or other legal representatives.

The draft also introduces the following additional control measures:

The bank will conduct two-factor authentication of the client with mandatory use of biometrics when establishing business relationships or when the client changes their mobile phone;

The bank will monitor the linking of all client accounts/cards to a single Kazakhstani mobile number registered for the client on the Kazakhstan e-government portal;

The client must use a mobile application only through one identified mobile device registered with the bank;

If the client is issued more than one payment card (except for special accounts for benefits, children's cards, and credit cards for loan servicing), the bank will monitor the flow of money in the account according to the intended purpose specified by the client when the card was issued, and in case of discrepancies, a deeper transaction monitoring will take place;

Banks are required to store photo and video records of the client identification process for at least 5 years.

It was also previously reported that the National Bank of Kazakhstan and the Agency for Regulation and Development of the Financial Market signed a memorandum with the Central Bank of the UAE.

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