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Turkmenistan discloses volume of loans provided to enterprises, organizations

Finance Materials 5 December 2023 06:07 (UTC +04:00)
Aman Bakiyev
Aman Bakiyev
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ASHGABAT, Turkmenistan, December 5. The balance of loans issued by credit institutions in Turkmenistan to enterprises, organizations, and citizens as of October 1, 2023, amounted to 86.48 billion Turkmen manat ($24.68 billion), Trend reports.

The Central Bank data shows that these figures are 1.8 percent lower than as October 1, 2022 (88.11 billion Turkmen manats, or $24.3 billion).

The total amount of the loan balance issued to citizens engaged in entrepreneurial activity without the formation of a legal entity as of the beginning of October 2023 amounted to 20.73 billion Turkmen manat ($5.92 billion), which is 15 percent more than in the same period of 2022 (18.03 billion Turkmen manat, or $5.15 billion).

Turkmenistan is experiencing continuous expansion in its financial sector, characterized by the implementation of various innovative measures.

A significant advancement involves the increasing accessibility of mobile applications, allowing users to conduct payments for a diverse array of services and products. The popularity of non-cash transactions is on the rise, and there is a growing trend in using bank terminals for making payments.

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