Law mandates the use of a local bank for settlements in foreign currency between residents of the RK and non-residents. Exception is made for settlements made from foreign bank's account of a non-resident, carried out on account of fulfilment of obligations of a resident (e.g., when a parent foreign company pays for its local branch in the RK) and for settlements with non-residents made from the resident's account in a foreign bank. Foreign currency in cash received by legal entities and foreign branches on the territory of the RK (prior to 2019 - non-residents) must be credited to the local bank account. Also, settlements between residents of the RK (including local branches of foreign non-financial legal entities considered as residents) must be effected in local currency. 