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Country-wide money transfers volume down in Kazakhstan

Finance Materials 2 November 2020 13:48 (UTC +04:00)
Country-wide money transfers volume down in Kazakhstan

BAKU, Azerbaijan, Nov. 2

By Nargiz Sadikhova – Trend:

A total of 4.6 million transfers worth 40.4 trillion tenge ($94.3 billion) were made via services of Kazakhstan National Bank's payment systems in Sept. 2020, Trend reports with reference to the data of the bank.

This is 2.5 percent more in volume and 2.5 percent less in value compared to Aug. 2020.

On average, 211,300 transactions worth 1.8 trillion tenge ($4.2 billion) were carried out daily.

The volume of plastic cards issued in Kazakhstan amounted to 44.3 million cards as of Oct. 1, 2020, and 55.9 percent of them were used in Sept. 2020.

The volume of transactions via plastic cards of Kazakh issuers amounted to 322.2 million transactions worth 5.2 trillion tenge ($12.1 billion) in Sept. 2020, which means an increase of 4.7 percent in volume and by 8.1 percent in value compared to Aug. 2020.

Furthermore, the total volume of funds sent via international systems of money transfers amounted to 0.3 million transfers worth 98.2 billion ($229.4 million) in Sept. 2020, which is 19.8 percent more in value compared to Aug. 2020.

Out of the total volume of transfers, 82.6 percent (0.3 million) of total volume or 95 percent of total value (93.3 billion tenge or $217.9 million) accounted for transfers from Kazakhstan to other countries.

Some 17.4 percent of total volume (0.1 million) and 5 percent of total value (4.9 billion tenge or $11.4 million) accounted for transfers in Kazakhstan. The remaining 0.1 million transfers worth 27.1 billion tenge ($63.3 million) accounted for transfers from other countries to Kazakhstan.

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Follow the author on Twitter: @nargiz_sadikh

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