Regulatory Alerts2016-01-12
Added · Updated
Commentary on Amendments and Additions to the Regulation on Organizing Cash Operations, Collection, and Transport of Valuables in Commercial Banks
Amendments to the regulation effective July 31, 2011, introduce definitions for collection services, collection points, and slips, and mandate the destruction of seals and stamps upon branch closure or name change. The rules now require pre-verification of documents for cash deposits, specify the use of new payment blanks for individual tax payments, and establish accounting procedures for unusable or counterfeit currency at a nominal value of 1 sum. Additional provisions govern debit card operations, the storage of pledged securities at nominal value, the handling of unremitted funds, and the security and organization of off-premises operational cash desks and collection points in markets with over 100 stalls.
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