ISO 20022

What is ISO 20022?
ISO 20022 is an international standard for the exchange of electronic messages between banks and financial organizations.

What changes are expected in Jusan Business under the ISO 20022 standard?
From November 25, 2024, new fields will be added when creating payments in Jusan Business to specify the actual payer and actual recipient information. The changes will apply to both manual filling and importing of payments. A field to specify the country of residence for non-residents will also be added.

Who is the actual sender/payer?
Actual sender/payer — the person whose obligation the payment or transfer of money is made to fulfil.

Who is the actual recipient/beneficiary?
Actual (ultimate) recipient/beneficiary — a person who is the final recipient of money or the party in whose favor the obligation is fulfilled.

In what cases is it necessary to specify the country of residence of the recipient when creating a payment in Jusan Business?
If the recipient/beneficiary is a non-resident of the Republic of Kazakhstan, the country of residence must be indicated — two-letter code of the country.
You must select the recipient country code in the «Country» field on the payment form.

Important information
∙ Setting up new fields for uploading MT files can be done in the client's accounting system with the help of IT specialists;
∙ You do not need to provide information about the actual payer and/or recipient if they are the same as the sender and/or recipient;
∙ The initiator of the payment is responsible for the correctness of the payment details;
∙ More information on ISO 20022 can be found on the National Payment Corporation website.

What types of payments will be changed?
The changes will affect all external payments in tenge from Jusan to other second-tier banks, as well as the organization of the State Revenue Committee, the National Agency for Public Procurement «Government for Citizens» and the Treasury Committee of the Ministry of Finance of the Republic of Kazakhstan.
Transactions in foreign currency will remain unchanged.