Translation. Region: Russian Federal
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
ALMATY, July 2 (Xinhua) — The National Bank of Kazakhstan will amend some regulations on payments and money transfers, according to which it will be prohibited to buy housing in new buildings for cash, the Kazinform news agency reported on Wednesday.
The amendments stipulate that all payments under equity participation agreements (EPAs) must be made in non-cash form, including by depositing cash into the bank account of an authorized construction company through banks.
These requirements will apply only to transactions on the primary market /purchase of a share in an apartment building or complex of individual residential buildings under construction/ and are aimed at protecting the rights of equity holders from risks associated with unregistered DDUs. –0–