BAKU, Azerbaijan, June 19
By Jeila Aliyeva - Trend:
The State Bank for Foreign Economic Affairs of Turkmenistan will conclude a financial agreement with the Islamic Corporation for the Development of the Private Sector (ICD) in addition to the three-year SWAP status, Trend reports with reference to Turkmenistan’s State News Agency.
The agreement will be signed to finance small and medium-sized business projects, as well as to implement the procedures related to its entry into force.
Also, the agreement will be signed for a period of up to 3 years with a grace period of up to 6 months at 4.5 percent per annum.
As it was reported earlier, 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.
---
Follow the author on Twitter: @JeilaAliyeva