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Kazakhstan reports decrease in value of money transfers abroad

Finance Materials 30 December 2020 12:23 (UTC +04:00)
Kazakhstan reports decrease in value of money transfers abroad

BAKU, Azerbaijan, Dec. 30

By Nargiz Sadikhova - Trend:

A total of 4.4 million transfers worth 43.6 trillion tenge ($103.8 billion) were made via services of Kazakhstan National Bank's payment systems in Nov. 2020, Trend reports with reference to the data of the bank.

This is 0.7 percent more in volume and 3.3 percent more in value compared to Oct. 2020.

On average, 210,500 transactions worth 2.1 trillion tenge ($5 billion) were carried out daily.

The volume of plastic cards issued in Kazakhstan amounted to 46.8 million cards as of Dec. 1, 2020, and 55.3 percent of them were used in Nov. 2020.

The volume of transactions via plastic cards of Kazakh issuers amounted to 342.6 million transactions worth 5.4 trillion tenge ($12.8 billion) in Nov. 2020, which means a decrease of 0.5 percent in volume and by 1.8 percent in value compared to Oct. 2020.

The share of non-cash payments in the structure of operations using payment carts of Kazakh issuers increased to 93.3 percent in volume (92.7 percent in Oct.) and to 72.9 percent in value (71.5 percent in Oct. 2020).

To date, 17 payment systems operate in Kazakhstan, including payment systems of the National Bank, money transfer systems, and payment card systems.

Furthermore, the total volume of funds sent via international systems of money transfers amounted to 0.3 million transfers worth 82.6 billion ($196.6 million) in Nov. 2020, which is 6.2 percent less in value compared to Oct. 2020.

Out of the total volume of transfers, 78.6 percent (0.2 million) of total volume or 93.7 percent of total value (77.5 billion tenge or $184.5 million) accounted for transfers from Kazakhstan to other countries.

Some 21.4 percent of total volume (0.1 million) and 6.3 percent of total value (5.2 billion tenge or $12.3 million) accounted for transfers in Kazakhstan. The remaining 0.1 million transfers worth 26.4 billion tenge ($62.8 million) accounted for transfers from other countries to Kazakhstan.

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Follow the author on Twitter: @nargiz_sadikh

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