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Russia is among main recipient countries of international money transfers from Kazakhstan

The average amount of one transfer from Kazakhstan abroad is 330,100 tenge ($690)

ASTANA, August 19. /TASS/. Russia is one of the leading recipient countries of international money transfers from Kazakhstan, the press service of the National Bank of Kazakhstan reported.

"The total volume of money transfers carried out through international money transfer systems in the first half of 2024 amounted to 515.3 billion tenge (about $1.1 billion - TASS), a decrease of 19% compared to the same period in 2023," the report says.

It is noted that 94% of transfers through international money transfer systems are gratuitous transfers between individuals. The bulk of transactions through international money transfer systems (98%) are cross-border transfers between Kazakhstan and other countries.

"However, about 87% of these transfers are carried out through the Zolotaya Korona system (Russian for Golden Crown - TASS). The average amount of one transfer from Kazakhstan abroad is 330,100 tenge ($690 - TASS). The main recipient countries are Russia (31.2%), Uzbekistan (26.8%), Turkey (20.9%), Georgia (7.7%) and Kyrgyzstan (3.6%)," the press service specified.

Transfers to Kazakhstan from abroad amounted to 23% of the total transaction volume - 120.4 billion tenge (about $252 million). A significant share of these transfers comes from the Zolotaya Korona and Western Union systems. The average amount of one transfer to Kazakhstan from abroad is 279,300 tenge (about $580). The main sending countries are Russia (28.3%), the United States (12.4%), South Korea (11.2%), Uzbekistan (9.7%) and Turkey (7.4%).

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