New service to be introduced in Turkmenistan's banking sector
ASHGABAT, Turkmenistan, Nov. 18
By Huseyn Hasanov – Trend:
Work is underway to introduce the cashback service by Turkmen banks, Trend reports via the Neutral Turkmenistan newspaper.
This matter has been discussed at a government meeting.
The introduction of cashback in the practice of domestic banks is meant to help strengthen their competitiveness and actively attract payment card users, Turkmen President Gurbanguly Berdimuhamedov said.
The relevant departments have been instructed to legislatively regulate the issues arising from the provision of this service.
Cashback is a refund of part of the money spent (usually from 0.5 percent to 5 percent of the amount of purchases).