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Kazakhstan Statistical Report 2024

Name: Kazakhstan Statistical Report 2024
Brand: Payment Card Year Books
Price: 270.00 GBP
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INTRODUCTION

the Assembly (Mazhilis). There is limited power outside of the executive branch.

The Republic of Kazakhstan is a country in Central Asia, with a minor part west of the Ural River and thus in Europe. Kazakhstan is the world’s largest landlocked country by land area and the ninth largest country in the world; its territory of 2,724,900 square kilometres is larger than Western Europe. It has borders with Russia, China, Kyrgyzstan, Uzbekistan, and Turkmenistan, and also adjoins a large part of the Caspian Sea. The capital is Astana, which was moved from Almaty in 1997. Kazakhstan allows freedom of religion. The Kazakh language is the state language, while Russian has equal official status for all levels of administrative and institutional purposes.

Since the break-up of the Soviet Union, the Kazakhstan government has pursued the goal of an open economy integrated into the world economy, including a fully privatised banking sector. Oil and gas are the main engines of the Kazakh economy, and Kazakhstan contributes 60% of Central Asia’s GDP, underlining its importance to the region economically as a whole.

Kazakhstan is a member of the Russian-led Eurasian Economic Union, whose formation was finalised in 2015. However, with a view to its long-standing open economy policy, the Kazakh government insists that joining the customs union will not preclude trade agreements with other countries and international organisations.

In March 2020, the Concept of the Foreign Policy of Kazakhstan for 2020–2030 was announced. This is aimed at implementing progressive foreign policies, economic interest in the international arena to attract investment, and development of regional and multilateral diplomacy with key partners - including Russia, China, the US and EU countries.

According to the National Bank of Kazakhstan, mobile apps, internet banking and other remote facilities are becoming the main channels for providing payment services to end users. As of 2020, 29 million online banking users were recorded, compared to 20 million in 2019. Over 14 million people were active monthly internet and mobile banking users in 2020, compared to 7 million in 2019.

In May 2021, the National Bank of Kazakhstan announced the launch of a pilot national digital currency as a prospective form of money. The digital KZT would be a legal means of payment, a value measure, and a means of saving.

Many banks in Kazakhstan are pursuing the development of their own payment ecosystems, by integrating consumer payment services, merchant acquiring and e-commerce platforms to streamline and accelerate development of digital payments.

Online retail sales, which accounted for 7.8% of the total retail market in 2021, are significantly below other markets. Penetration of consumer financial services is low, with consumer loans accounting for only 7.6% of GDP in 2021 (based on data from the NBK). Digital payments in Kazakhstan accounted for 78% of transactions in 2021, which is a dramatic transformation in a relatively short period. Although Kazakhstan is rapidly embracing digitisation, there is still scope to deepen digital payments penetration, especially across retail and SMEs. The share of e-commerce in the total volume of retail trade rose sharply to 12.5% in 2022 from 3.6% in 2021 according to data from the Bureau of National Statistics.

STATISTICAL KEY FIGURES FOR 2023/24 PROVIDED IN THIS PROFILE:

NEW IN 2024:

THE FULL IMPACT OF COVID-19 ON DIGITAL PAYMENTS, CARD PAYMENTS, E-COMMERCE AND M-COMMERCE BY MARKET.
REAL-TIME PAYMENTS INFRASTRUCTURE AND GROWTH STATISTICS BY MARKET.
OPEN BANKING INFRASTRUCTURE, API ROLL-OUT, KEY PLAYERS AND KEY INITIATIVES BY MARKET.
CONTACTLESS AND MOBILE PAYMENTS STATISTICS BY MARKET.
CRYPTOCURRENCY, STABLECOIN AND CBDC INITIATIVES BY MARKET.
FULL UPDATE ON BANK CHANNEL DIGITISATION BY MARKET.
FORECASTING COLUMN ADDED FOR ALL THE MAJOR TABLES.
READER-FRIENDLY DESIGN WITH ENHANCED DATA VISUALISATION.
INDUSTRY DEVELOPMENTS AND BANK DEPLOYMENTS OF EID, BIOMETRICS AND AI.
THE INTEGRATION OF DIGITAL CHALLENGERS AND NEOBANKS INTO THE BANKING INFRASTRUCTURE.

UPDATES FOR 2023-24:

UPDATED – BANK M&A, RESTRUCTURING AND MARKET POSITIONING.
CUSTOMER NUMBER KPIS AND ADOPTION OF DIGITAL CHANNEL KPIS.
REAL-TIME PAYMENTS INFRASTRUCTURE AND GROWTH STATISTICS BY MARKET.
OPEN BANKING INFRASTRUCTURE, API ROLL-OUT, KEY PLAYERS AND KEY INITIATIVES BY MARKET.
CONTACTLESS AND MOBILE PAYMENTS STATISTICS BY MARKET.
CRYPTOCURRENCY, STABLECOIN AND CBDC INITIATIVES BY MARKET.
FULL UPDATE ON BANK CHANNEL DIGITISATION BY MARKET.
FORECASTING COLUMN ADDED FOR ALL THE MAJOR TABLES.