Turkmen Leader Instructs to Accelerate Introduction of Modern Banking Services

BUSINESS TURKMENISTAN
Turkmen Leader Instructs to Accelerate Introduction of Modern Banking Services
President of Turkmenistan instructed to accelerate the introduction of modern banking services and increase confidence in the institutions of the banking system.

During the meeting of the Cabinet of Ministers of Turkmenistan on Friday, addressing Deputy Prime Minister Gadyrgeldi Mushshikov and managements of the country’s banking and financial institutions, President Gurbanguly Berdimuhamedov noted the importance of taking effective measures to ensure the economy’s financial stability, the State News Agency of Turkmenistan (TDH) reports.

Turkmen Leader instructed to conduct a systematic analysis of the economic benefits and consequences of loans for different sectors, and to strengthen control over the use of loans.

President Gurbanguly Berdimuhamedov instructed to accelerate the introduction of modern banking services and increase confidence in the institutions of the banking system. In this regard, the Head of State instructed to simplify the procedure for attracting and issuing money deposits from individuals and legal entities.

The Head of State noted that one of the important tasks is to ensure the flow of credit funds and foreign investments on favorable terms from international financial markets and instructed to intensify cooperation with leading organizations in this direction.

Focusing on the State budget for the next year, President Gurbanguly Berdimuhamedov stated the importance of review by the Mejlis of Turkmenistan of the draft financial document.

Turkmen Leader added that in the State Budget for 2021, it is necessary to include funds for the construction of housing for people in need in each district and city.