The company said this is new opportunity to citizens of Central Asia, which will allow them to send remittances to friends and relatives on more attractive tariffs.

New lower tariffs were launched in the beginning of the month, which significantly boosted growth of MoneyGram business in money transfers between Central Asia and China.

The company said that remittances in China can be obtained in one of these Chinese banks - ICBC, China Citic Bank, Bank of China, Industrial Bank Co.,LTD., Shengjing Bank.

Evgeniy Butyugin, regional director of MoneyGram for Russia, Belarus and Central Asia, said that trade relations of this corridor helped to growth of money transfers. He said that the company expects that campaign on decreasing tariff rates will positively impact to development of business and formation of image of the company, allowing clients to have more profitable and comfortable conditions.

Earlier, MoneyGram decreased tariffs for remittances to the CIS, Georgia and Israel. This helped to strengthen position of MoneyGram in the region and expended financial communication between relatives and friends in this region.

The company said that the size of fee for sending US$1,000-US$1,500 makes up US$35, which is US$15 less compared to previous rate. The fee set at 1.5% at sending US$3,000.

MoneyGram said that it is also expanding its presence in Central Asia to meet growing demand. Currently, there are 3,300 remittance points of MoneyGram in the region.