Shareholders of Turkmenistan’s Halkbank JSCB Elect Chairman

BUSINESS TURKMENISTAN
Shareholders of Turkmenistan’s Halkbank JSCB Elect Chairman
Turkmenistan presently caries out relevant activities to improve the activities of banking institutions and gradually transform them into joint stock companies.

President of Turkmenistan Gurbanguly Berdimuhamedov during the Friday meeting of Cabinet of Ministers approved Resolution No.1 dated October 14, 2020 of the general meeting of shareholders of the Halkbank Joint-Stock Commercial Bank, the TDH news agency reports.

According to the document, Myrat Arabov is elected as Chairman of the board of the Halkbank JSCB.

During a government meeting last week, the Head of State had signed a decree on the transformation of the Halkbank State Commercial Bank into the Halkbank Joint-Stock Commercial Bank with the organizational and legal form of an open joint stock company.

These activities are carried out with the aim of successfully implementing the State Program for the Development of Banking Sector of Turkmenistan for 2011-2030, developing the securities market, and improving the country's financial system.

In addition, in order to implement the Strategy for improving the activities of the State Commodity and Raw Materials Exchange of Turkmenistan (SCRMET) for 2020-2025, work is currently underway to change the organizational and legal form of the Exchange and transform it into an open joint stock company.