BAKU, Azerbaijan, April 14
By Jeila Aliyeva - Trend:
The volume of loans issued by credit institutions of Turkmenistan to state-owned enterprises and organizations in the national currency amounted to 51.9 million Turkmen manat ($14.8 million) as of February 1, 2021, which is 8.6 percent more than in the corresponding period of 2020, Trend reports with reference to the Business Turkmenistan information portal.
Also during the reporting period, the number of loans issued by credit organizations of Turkmenistan to private enterprises and organizations in the national currency amounted to 5.4 million manat ($1.5 million) in the reporting period, which is 7.8 percent more than in the corresponding period last year.
In addition, the total amount of loans granted to citizens and private entrepreneurs in the national currency amounted to 13.8 million manat ($3.9 million) in February 2021, which is 9 percent more than in the same period in 2020.
The work is underway to introduce digital technologies into Turkmenistan’s banking sector.
The introduction of digital technologies into the banking sector of the country will expand the range of banking services and the capabilities of the national payment system provided to customers, as well as increase the competitiveness of credit institutions.
In general, the country's financial sector is constantly expanding. In particular, mobile applications are being introduced to pay for various services and goods, the number of non-cash payments is increasing, and payment for goods and services is being implemented through banking terminals.
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