BAKU, Azerbaijan, Jun. 3
By Nargiz Sadikhova – Trend:
The overall value of money transferred via systems of international money transfers amounted to 246.2 billion tenge ($611.8 million) over first four months of 2020 via 1.2 million transfers, Trend reports with reference to the data of Kazakhstan’s National Bank.
The overall number of money transfers to and from Kazakhstan decreased by 18.2 percent compared to the same period of last year: the volume of money transfers from Kazakhstan decreased by 12.5 percent, whereas the volume of those to Kazakhstan decreased by 30.7 percent. At the same time, the volume of money transfers carried out across Kazakhstan increased by 20.1 percent year-on-year.
The majority of the transfers sent from Kazakhstan account for Russia (35.5 percent), Uzbekistan (18.8 percent), Turkey (16.8 percent), Kyrgyzstan (12.3 percent), whereas the majority of those sent to Kazakhstan accounted for Russia (27.7 percent), South Korea (20.2 percent), Kyrgyzstan (12.3 percent), and Uzbekistan (11.3 percent).
The report said that overall, a twofold decrease in the volume of money sent and received was observed in April compared to March, which is supposedly a consequence of the introduction of measures to combat the spread of COVID-19 and a decrease in business activity in most countries of the world.
The report also noted that the six international money transfer systems were functioning in Kazakhstan as of May 1, 2020: KoronaPay, Western Union, UNISTRIM, Contact, Faster, MoneyGram.
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