BAKU, Azerbaijan, Nov. 3
By Nargiz Sadikhova - Trend:
The value of money transfers through international money transfer systems increased by 3.4 percent over nine months of 2020, amounting to 793 billion tenge ($1.8 billion), Trend reports citing Kazakhstan’s National Bank.
The value of money transfers from Kazakhstan to other countries increased by 16.6 percent, from other countries to Kazakhstan – decreased by 21.4 percent. The volume of money transfers across Kazakhstan increased by 10.6 percent
The largest part of the money transfers from Kazakhstan abroad accounts for countries such as Russia, Kyrgyzstan, Uzbekistan, and Turkey. In turn, the countries from where the money transfers were mostly implemented to Kazakhstan are Russia, South Korea, Kyrgyzstan, and Uzbekistan.
The average sum of money transfer abroad was 317,000 tenge ($729), whereas from abroad to Kazakhstan it was 219,000 tenge ($503).
Currently, six systems of international money transfers operate in Kazakhstan: Contact, Faster, MoneyGram, Western Union, KoronaPay, and UNISTREAM.
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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