Quarterly report pursuant to Section 13 or 15(d)

CASH AND CASH EQUIVALENTS

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CASH AND CASH EQUIVALENTS
 3 Months Ended
Jun. 30, 2024
Cash and Cash Equivalents [Abstract]  
CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS
As of June 30, 2024, and March 31, 2024, cash and cash equivalents consisted of the following:
 
June 30, 2024
March 31, 2024
 
Short term deposits in National Bank (Kazakhstan) $ 292,154  $ 196,942 
Short term deposits in commercial banks 202,830  127,051 
Securities purchased under reverse repurchase agreements 150,960  134,961 
Petty cash in bank vault and on hand 40,099  22,613 
Overnight deposits 14,465  3,557 
Cash in transit 7,210  9,633 
Short term deposits in stock exchanges 5,062  47,830 
Short term deposits on brokerage accounts 5,586  2,917 
Short term deposits in the Central Depository (Kazakhstan) 551  42 
Allowance for Cash and cash equivalents (239) (462)
Total cash and cash equivalents $ 718,678  $ 545,084 
As of June 30, 2024, and March 31, 2024, cash and cash equivalents balance included short-term collateralized securities received under reverse repurchase agreements which the Group concludes mainly on KASE. KASE, in turn, guarantees payments to the counterparty. The terms of the short-term collateralized securities received under reverse repurchase agreements as of June 30, 2024, and March 31, 2024 are presented below:
June 30, 2024
Interest rates and remaining contractual maturity of the agreements
Average interest rate
Up to 30 days Total
Securities purchased under reverse repurchase agreements
 
Corporate equity 14.08  % 104,509  104,509 
Corporate debt 3.53  % 31,398  31,398 
US sovereign debt 7.95  % 10,302  10,302 
Non-US sovereign debt 3.30  % 4,751  $ 4,751 
Total $ 150,960  $ 150,960 
March 31, 2024
Interest rates and remaining contractual maturity of the agreements
Average interest rate
Up to 30 days Total
Securities purchased under reverse repurchase agreements
Corporate equity 14.57  % $ 96,647  $ 96,647 
US sovereign debt 4.77  % 16,885  16,885 
Non-US sovereign debt 4.45  % 12,468  12,468 
Corporate debt 5.31  % 8,961  8,961 
Total $ 134,961  $ 134,961 
The securities received by the Group as collateral under reverse repurchase agreements are liquid trading securities with market quotes and significant trading volume. The fair value of collateral received by the Group under reverse repurchase agreements as of June 30, 2024 and March 31, 2024, was $150,886 and $133,380, respectively.
As of June 30, 2024 and March 31, 2024, securities purchased under reverse repurchase agreements included accrued interest in the amount of $132 and $106, with a weighted average maturity of 2 days and 3 days, respectively. All securities repurchase agreements transactions were executed through the KASE.