ASHGABAT, Turkmenistan, March 20. The total balance of loans issued by banks in Turkmenistan to enterprises, organizations, and citizens as of February 1, 2024, amounted to 88.42 billion Turkmen manats ($25.24 billion), Trend reports.
Data from the Central Bank of Turkmenistan show that these figures indicate a slight decrease compared to the corresponding date of the previous year (which amounted to 88.74 billion Turkmen manats, or $25.33 billion).
As of the beginning of February 2024, the total amount of loan
balance issued to citizens engaged in entrepreneurial activity
without the formation of a legal entity was 21.77 billion Turkmen
manat ($6.21 billion), 14.2 percent higher than on the same date in
2023 (19.05 billion Turkmen manat, or $5.44 billion).
Meanwhile, Turkmenistan's banking industry has been rapidly
expanding in recent years, with a major increase in the number of
banking institutions, expanded services, modernized infrastructure,
and improved regulation to promote economic growth and financial
inclusion.
In the meantime, according to the Central Bank of Turkmenistan, the
official exchange rate of the Turkmen manat against the US dollar
on March 20, 2024, is fixed at 3.5 manat per USD.