Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan became the leader in money transfers from Kazakhstan at the end of 2023. The National Bank of Kazakhstan said in a statement.

According to the regulator, the total volume of money transfers carried out through international money transfer systems in 2023 amounted to 1.33 trillion tenge, which is 26% lower than the level of 2022.

The majority of transactions, namely 95%, are cross-border money transfers between Kazakhstan and other countries.

Of the total volume of money transfers carried out through international systems, 72% were transfers sent abroad, the amount of which in 2023 reached 961.4 billion tenge. Almost 80% of these transfers were made through the Zolotaya Korona system.

In 2023, the main recipient countries of remittances were Uzbekistan (27.5%), Russia (25.1%), Turkey (23.1%), Georgia (9.6%) and Kyrgyzstan (3.4%).

At the same time, 23% of the total volume was made up of remittances received from abroad, the amount of which during this period reached 305.8 billion tenge. A significant part of these transactions were carried out through the Zolotaya Korona and Western Union payment systems.

The main countries sending remittances to Kazakhstan are Russia (35.3%), the USA (11.0%), Uzbekistan (11.0%), South Korea (10.7%) and Turkey (6.4%).