Kazakhstan Sees Growth In Remittances Abroad Via Int'l Systems


(MENAFN- Trend News Agency) ASTANA, Kazakhstan, May 4. About 59.3 billiontenge (about $133 million) was sent abroad from Kazakhstan throughinternational money transfer systems in March 2024, which is 0.6percent more than in February (58.9 billion tenge or $132.2million), Trend reports.

The data from the Central Bank of Kazakhstan shows that,compared to February 2024 (184,800 transactions), the number oftranslations increased by 4.1 percent and amounted to 192,400transactions.

In February, the largest number of transfers abroad were madethrough Zolotaya Korona, Western Union, Moneygram, and others.

In terms of the volume of money sent from Kazakhstan abroad, theleaders are: Russia: 20.05 billion tenge or about $45 million(share 33.8 percent); Türkiye - 14.7 billion tenge or about $33.1million (share 24.9 percent); and Uzbekistan: 11.2 billion tenge orabout $25.1 million (share 18.9 percent).

Moreover, the main share of transfers through internationalsystems was carried out in US dollars (share of the total number oftransfers: 26.3 percent, share of the total volume of transfers:51.8 percent) and in Kazakhstani tenge (60 percent and 36.7percent, respectively).

Meanwhile, the total volume of money transfers throughinternational money transfer systems (IMTS) in Kazakhstan amountedto 196,200 transactions worth 61.5 billion tenge (about $138million) in March 2024. Compared to February 2024 (187,600transactions worth 60.3 billion tenge, or $135 million), there isan increase in the number of transfers by 4.6 percent and in thevolume of transactions by 2 percent.

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Trend News Agency

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