The State Commodity and Raw Materials Exchange of Turkmenistan (SCRMET) has issued guidance on the updated list of documents required to register with its Financial Monitoring Department. The procedure is aimed at preventing money laundering and the financing of terrorism.
Exchange clients are required to submit identification information. Exchange staff review the information provided, taking into account clients’ business activities and transactions, assess risk levels and enter the data into the automated banking system.
Registration and document submission are available online through a personal user account. Users can upload documents and questionnaires, download templates, supplement their application packages if necessary and communicate with exchange administrators.
To identify affiliated and nonaffiliated clients, including individual entrepreneurs and legal entities, the following documents must be submitted:
- An application addressed to the exchange chairman requesting inclusion in the register;
- Notarized copies of constituent documents of legal entities and individual entrepreneurs, certified by a notary in the country of registration or by a Turkmen diplomatic mission;
- A completed questionnaire:
Clients are responsible for the accuracy of the documents submitted. Documents of nonaffiliated persons must be translated into the state language.
Compliance with these requirements ensures transparency of transactions, reliable cooperation with the exchange and adherence to financial monitoring regulations.
