Today, on March 14, 2024, the National Bank of Kazakhstan (NBK) presented a report on international money transfer systems (IMTS). According to the NBK, the total volume of money transfers conducted through IMTS in 2023 amounted to 1.33 trillion tenge, which is 26% lower than the 2022 figure.
The majority of operations, 95%, were cross-border money transfers between Kazakhstan and other countries. Out of the total volume of money transfers through IMTS, 72% were outgoing transfers abroad, reaching 961.4 billion tenge in 2023. The average amount of one transfer from Kazakhstan abroad was 372.2 thousand tenge.
The main recipient countries of these transfers via IMTS were Uzbekistan (27.5%), Russia (25.1%), Turkey (23.1%), Georgia (9.6%), and Kyrgyzstan (3.4%). Additionally, 23% of the total volume consisted of incoming money transfers from abroad, totaling 305.8 billion tenge. The average amount of one transfer to Kazakhstan from abroad was 282.3 thousand tenge.
The primary sender countries of these transfers were Russia (35.3%), the USA (11.0%), Uzbekistan (11%), South Korea (10.7%), and Turkey (6.4%). IMTS are used for transfers without opening a bank account, mainly involving free transfers between individuals, as stated by the NBK press service.
On March 13, 2024, President Kassym-Jomart Tokayev met with the Chairman of the National Bank, Timur Suleimenov. The head of state reviewed the report on the implementation of monetary policy and discussed the bank's future plans.
