Turkmenistan expanding local non-cash payments

Finance Materials 17 July 2020 15:39 (UTC +04:00)
Turkmenistan expanding local non-cash payments

BAKU, Azerbaijan, July 17

By Jeila Aliyeva - Trend:

The State Bank for Foreign Economic Affairs of Turkmenistan introduces new type of deposit bank card, Trend reports with reference to Turkmenportal Information Portal.

The card allows withdrawing funds in cash, make non-cash payments and receive stable income.

The interest rate of the new card is 6 percent per annum. There is no minimum fund deposit for the card.

Earlier, the State Bank for Foreign Economic Affairs of Turkmenistan a new card called Milli VISA Karty.

The new card has to improve the country's banking sector, and also make it possible to connect the national payment system of Turkmenistan to the modern international network.

The card was introduced in order to expand the range of non-cash payments in the country.

Turkmenistan pays special attention to extension of services of the country’s banking sector.
Earlier, Turkmenistan introduced a new Tmcell töleg software, which allows making non-cash payments. This software was also created to further improve the system of non-cash transactions.

Improving card payment is an important point of Turkmenistan's digitalization.

In order to become a participant in the global information dialogue, on November 30, 2018, Turkmenistan approved the concept for the development of the digital economy from 2019 through 2025 at the highest government level.

Follow the author on Twitter: @JeilaAliyeva