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Turkmenistan's Central Bank reports surge in Internet Banking adoption

Finance Materials 15 December 2023 03:15 (UTC +04:00)
Aman Bakiyev
Aman Bakiyev
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ASHGABAT, Turkmenistan, December 15. There are 1.03 million registered users in Turkmenistan as of the beginning of July 2023 of Internet banking services, which is 1 percent more than at the beginning of November (1.02 million users), Trend reports.

According to the central bank of Turkmenistan, the largest number of registered users of this service lives in Mary (233,512 users) and Lebap (231,030 users) regions, as well as in the city of Ashgabat (222,803 users).

Dayhanbank has the largest number of users in the reporting period - 377,561 registered users. Turkmenistan State Commercial Bank (348,340 users) and Turkmenbashi Joint-Stock Commercial Bank (174,267 users) follow this indicator.

Meanwhile, the Internet Banking application is used for non-cash replenishment of city and cell phones, IP-TV, and the Internet, as well as for paying loans and buying tickets for rail transport and intercity buses.

The financial sector in Turkmenistan is experiencing continuous growth, with a notable focus on the integration of mobile applications for diverse service and product payments. Transaction volumes are on the rise, accompanied by the introduction of new payment methods accessible through bank payment terminals.

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