Bank CenterCredit plans to increase number of transactions under Western Union payment system to $58m by the end of 2002

/Kazakhstan today, June 26, 02/ - Bank CenterCredit plans to increase number of transactions under Western Union payment system to $58m by the end of 2002, having 127th transfers and expanding sales channels to 88 centers, the press service of the bank informed. According to press service, the meeting of deputy chairman of Bank CenterCredit OJSC Board of directors Medet Rakhimbayev with vice- president of International Corporation Western Union in countries of Eastern Europe Kurt Marx was held. During the meeting results of Bank CenterCredit OJSC operations under Western Union payment system for the period from 1996 to 2002 and objectives of strategic planning for 2003 were discussed. There were also considerations about problems related with income taxation of nonresident from the Kazakhstan source and marketing activity. Beginning from 1996 Bank CenterCredit OJSC is the official representative of Western Union Corporation in Kazakhstan. Main agents of the corporation except Bank CenterCredit are Lariba Bank, Kazpost, bank Turan-Alem. Such banks as ATF, Alliance-Bank, Taib bank, Danabank, Neftebank are sub- agents of the Bank CenterCredit OJSC. By results of 2001 Bank CenterCredit OJSC served about KZT6bn of payments, income earned totaling $800th, 80th people made use of the banks service, which is 45% greater relative to 2000. According to Western Union in 2001 Bank CenterCredit OJSC made 77% of all transfers conducted in Kazakhstan. In June of 2002 Bank CenterCredit OJSC became the first bank on the territory of CIS that successfully executed new program of Western Union "MT 2000" on separated channel that provided faster operations with high quality. Western Union International system of money transfer for physical persons without accounts openning totals 120,000 centers in 194 countries of the world. [2002-06-26]