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Turkmenistan's Central Bank reports surge in internet banking usage

Finance Materials 16 March 2024 09:29 (UTC +04:00)
Aman Bakiyev
Aman Bakiyev
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ASHGABAT, Turkmenistan, March 16. There are 1.06 million registered users in Turkmenistan as of the beginning of March 2024 of internet banking services, which is 11 percent more than in the same month last year (954,734 registered users), Trend reports.

According to the Central Bank of Turkmenistan, the largest number of registered users of this service live in the Mary (242,537 users) and Lebap (236,419 users) regions, as well as in the city of Ashgabat (230,095 users).

Dayhanbank has the largest number of users in the reporting period - 390,598 registered users. Turkmenistan State Commercial Bank (361,178 users) and Turkmenbashi Joint-Stock Commercial Bank (176,868 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.

Turkmenistan's financial sector is seeing steady expansion, particularly in the integration of mobile applications for a wide range of service and product payments. Transaction volumes are increasing, along with the introduction of new payment methods available through bank payment terminals.

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