ASHGABAT, Turkmenistan, February 27. The balance of loans issued by credit institutions in Turkmenistan to enterprises, organizations, and citizens as of January 1, 2024, amounted to 89.1 billion Turkmen manat ($25.4 billion), Trend reports.
According to the Central Bank of Turkmenistan, these figures indicate a slight increase compared to the corresponding date of the previous year (which amounted to 88.9 billion Turkmen manats or $25.3 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 January 2024 amounted to 21.8 billion Turkmen manat ($6.2 billion), which is 14.7 percent more than in the same period of 2023 (19 billion Turkmen manat, or $5.4 billion).
Turkmenistan is currently undergoing continuous growth in its financial sector, marked by the adoption of various advancements.
A noteworthy progression is the increasing accessibility of mobile apps facilitating payments for an array of services and goods. Electronic transactions are becoming more favored, and the utilization of bank terminals for payment intents is also escalating.