Kazakhstani banks are preparing to transition to a new payment standard, which may lead to potential disruptions.

Starting January 13, Kazakh banks will begin implementing the new ISO 20022 payment messaging standard. This innovation will enhance the accuracy and transparency of financial transfers, although it is unlikely that customers will avoid temporary inconveniences, as reported by Bizmedia.kz.

https://bizmedia.kz/2025-01-09-kazahstanskie-banki-gotovyatsya-k-perehodu-na-novyj-standart-platezhej-vozmozhny-sboi/2025-01-10 07:53:53

The transition was initially scheduled for November 12, 2024, but the timeline has been shifted. The National Bank has not provided an explanation for this change. Meanwhile, at least five banks have stated they are ready for the transition on the original dates.

Fortebank has already notified its clients that from January 10 at 17:50 until January 13 at 00:05, some services will be unavailable. During this period, it will not be possible to pay fines, taxes, upcoming tax payments, and services from "KazAeroNavigation."

The implementation of ISO 20022 is a significant step for Kazakhstan's financial system. However, like any technological upgrade, it may be accompanied by temporary disruptions. Citizens are advised to take this into account when planning their payments.