Money transfers through Zolotaya Korona in Kazakhstan decreased in Aug

ALMATY. Sept 30 (Interfax) - The volume of international money transfers via the Russian payment system Zolotaya Korona in Kazakhstan shrank in August 2024 compared to the previous month after the system had fallen under Western sanctions, according to the National bank of Kazakhstan.

In August of this year, the number of international transactions via Zolotaya Korona outside Kazakhstan totaled 167,140 compared with 186,700 in July, which is a decrease of 10.5%. The value of July transactions amounted to 73.2 billion tenge, which accounted for 89.3% of all international money transactions in Kazakhstan, to decline by 8.7% to 66.8 billion tenge in August (86.4%).

Incoming money transfers to Kazakhstan via Zolotaya Korona declined in August by 17% to 28,500 transactions compared with July and the value of incoming transfers decreased by 13.7% to 10.331 billion tenge.

On August 23, the U.S. Treasury Department imposed sanctions on about 400 individuals and legal entities from Russia. The list of sanctions included the Center for Financial Technologies, a company that develops software for various payment systems, including Zolotaya Korona.