BAKU, Azerbaijan, Oct.30
By Nargiz Sadikhova - Trend:
The number of money transfers via payment systems of Kazakhstan’s National Bank amounted to 30.6 million transfers worth 597.2 trillion tenge (approximately $1.5 trillion) during first nine months of 2019, Trend reports with reference to press office on Kazakh National Bank.
According to the information, the number of money transactions via the national payment systems is 167,700 payments worth 3.3 trillion tenge ($8.4 billion) a day, meaning that 5.4 billion tenge ($13.8 million) worth of payments go through system a minute.
“Overall, the health factor of bank’s payment systems in 2019 amounted to 99.9 percent. This exceeds set target indicators and characterizes high efficiency of payment systems functioning,” bank’s Payment Systems Department Уеrlan Ashykbekov said.
Furthermore, as of October 1, 2019, some 17 payment systems operate in the country, including national payment systems, which are operated by Kazakh National Bank, and private payment systems.
Kazakh payment system market is represented by a number of both national and international payment systems. As of August 2019, for the most part Kazakhs made transactions using KoronaPay (Zolotaya Korona) payment system, Western Union and Faster.
The Republic of Kazakhstan has a two-tier banking system. The National Bank of Kazakhstan is the central bank of Kazakhstan and presents the upper (first) tier of the banking system of Kazakhstan. All other banks present lower (second) tier of the banking system, excluding the Development Bank of Kazakhstan, that has peculiar legal status.
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