A glance at Turkmenistan’s banking sector

Business Materials 9 September 2017 09:38 (UTC +04:00)

Ashgabat, Turkmenistan, Sept. 9

By Huseyn Hasanov – Trend:

The banking system of Turkmenistan, being one of the leading components of the financial sector, plays a leading role in the economic growth of the country, the Neutral Turkmenistan newspaper reported.

All the local commercial banks are financial organizations.

The country’s financial representative for investment projects is the State Development Bank of Turkmenistan. Its main objective is financing priority national programs and innovative projects.

The State Bank for Foreign Economic Affairs of Turkmenistan actively participates in the financing of large-scale socio-economic programs in the country.

The bank’s most important task is carrying out active work on attraction of foreign capital and placing it in the priority sectors of the Turkmen economy.

Activities of the country’s SENAGAT joint-stock commercial bank are aimed to support Turkmen private commodity producers.

The State Commercial Bank of Turkmenistan Turkmenbashi mainly focuses on financing projects in such sectors as industry, transportation, communications and trade.