OSCE advances expertise in currency regulation and control

On 18 and 19 December 2025, in Astana, the OSCE Programme Office in Astana in co-operation with the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan (Committee) held a specialized training course on currency regulation and control. The training course aimed to enhance the professional capacity of public officials and practitioners in applying modern currency legislation and control mechanisms under conditions of economic transformation.

Effective currency regulation and control are essential for safeguarding financial stability, ensuring compliance with international obligations, and facilitating legitimate foreign trade. For Kazakhstan, this is particularly important given the high openness of its economy and the scale of cross-border transactions, with foreign trade turnover exceeding USD 140 billion in recent years. Persistent risks related to capital outflows, non-repatriation of export proceeds, and illicit financial flows underscore the need to strengthen institutional capacity in this area. Enhancing currency control directly supports the implementation of Kazakhstan’s National Development Plan until 2029, which prioritizes financial transparency, economic de-shadowing, digitalization, and alignment with international AML/CFT standards. In this context, recent changes in currency legislation, increased digitalization of financial flows, and evolving compliance requirements further reinforce the importance of strengthening knowledge and practical skills in currency regulation and cross-border financial oversight.

“Strengthening knowledge of currency regulation and control is crucial for promoting transparency, integrity, and trust in financial systems”, said Yerlen Badykhan, National Economic and Environmental Officer of the OSCE Programme Office in Astana. “Through this training seminar, the Office facilitates adaptation to regulatory changes and combating transnational organized crime while enabling legitimate trade”.

Participants examined the role of currency control as an instrument of supranational currency policy, including its legal foundations, inter-agency co-operation, and the role of customs authorities. The training course also covered recent developments in currency legislation between 2022 and 2025, such as financial digitalization, the evolution of concepts of foreign currency and currency values, digital currencies, and the liberalization of repatriation requirements. Practical aspects of foreign trade settlements, complex transactions, and compliance with currency legislation were discussed, along with administrative and criminal liability for violations, supported by practical case studies. The participants also explored mechanisms for monitoring suspicious currency transactions, countering money laundering, and international good practices in this field. The discussions concluded with an overview of future directions of currency regulation and control within supranational frameworks and their role in advancing economic integration and engagement with the global economy.