Turkmenistan, Ashgabat, Oct. 4 / Trend H.Hasanov /
Turkmen President Gurbangulu Berdimuhammedov signed a decree defining the new volume of the authorized capital of the Turkmen state commercial banks.
The document says that it is done to protect the interests of depositors and creditors to ensure economic stability and improve authority of the Turkmen state commercial banks in the international financial markets.
The Turkmen state commercial banks were instructed to direct at least 50 percent of net profits, in addition to other sources permitted by the Turkmen legislation, to the accumulation of the established volume of the authorized capital.
This document established a new level of the stated capital at $ 285 million manat for the Turkmen State Foreign Economic Affairs Bank, which is two times higher than the previously stated capital of $50 million.
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