Money, money circulation and credit - стр. 34
The National Bank of Kazakhstan specifies the requirements of cash services organization for banks and their clients and also of cash money holding, shipment and accounting. Under the law of RK dated from June 29, 1998 № 237 («BegoMOCTH napaaMema PK», 1998 № 11-12, article 177) the settlements between the juridical entities on a sum exceeding 4 000 monthly calculation indexes are made only by bank transfers.
Table2
The structure of monetary stock in the Republic of Kazakhstan *
The data of Table 2 shows that in Kazakhstan the dynamic fluctuation of the monetary stock volume is observed. In the monetary stock total volume the cash money took more than 20 % till 2005. It was related to the economic situation changes in the country while in modern conditions the share of cash money in the total monetary stock volume is not big especially in the industrially developed countries (for example in USA it amounts about 8 %).
Beginning from 2005 the share of cash money in circulation decreases and on 2009 it came to 12,4 % what is very good rate. It improves the structure of monetary turnover, widens the payment cycle and thus the circulation expenses decrease.
There is a tight fit between the cash and noncash circulations: money constantly transfers from one sphere of circulation into the other, it forms a total monetary turnover where the unified money acts.
In the national economic the cashless settlements prevail performed through the banks.
1.3.3. Cashless money turnover and its forms
Cash wire movements is a value transaction without cash money participation. The share of cashless settlements in Kazakhstan on January 1, 2009 takes 88 % of monetary stock. A high level of cashless settlements in any country shows a right and proper organization of the whole money turnover.
A noncash money turnover is performed by means of cashless settlements which are made without the usage of cash money by means of money medium transfers against the invoices in the loan institutions and by means of mutual claims offsets. Such settlements have an important economic value in the turnover acceleration, cash money decrease required for circulation, cost improvement on cash money issue and transportation.
Settlement relations include the following elements:
– the settlements’ members – supplier and consignee, buyer and recipient;
– the objects of settlement transaction (operation) – commodity and material valuables, rendered services, performed works, financial requirements and liabilities and also money and currency resources;