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Money transfers within Kazakhstan up by over 3 times

Finance Materials 29 November 2018 21:55

Baku, Azerbaijan, Nov. 29

By Rashid Shirinov – Trend:

The volume of remittances through money transfer systems within Kazakhstan in October 2018 amounted to 5.6 billion tenge, Ranking.kz reported.

This is 9.1 percent less than in September, but 7.7 percent more year-on-year.

In addition, the number of transactions decreased by 1.8 percent compared to September, to 21,800, and by 29 percent compared to October 2017.

The total volume of remittances within Kazakhstan in January-October 2018 reached 62.6 billion tenge, which is 3.2 times more than in the same period last year. At the same time, the number of transactions increased by only 36 percent.

As for the money transfer systems used for making remittances within the country in the 10 months, KoronaPay was the leader - 21.8 billion tenge, which is 5.1 times more than in January-October last year.

Next comes Faster - 2.5 billion tenge, which is 53.6 percent less year-on-year.

Western Union ranked third - 2.1 billion tenge, 64 percent less year-on-year.

(372.73 KZT = 1 USD on Nov. 29)

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Follow the author on Twitter: @ShirinovRashid

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