Ashgabat Stock Exchange Starts Trading Shares of Turkmen Banks

BUSINESS TURKMENISTAN
Ashgabat Stock Exchange Starts Trading Shares of Turkmen Banks
Halkbank Joint-Stock Commercial Bank, Ashgabat

Ashgabat Stock Exchange Shares Closed Joint-Stock Company started trading shares of Turkmenistan’s Halkbank and Senagat joint-stock commercial banks, according to the announcement published on Türkmenistan newspaper’s Friday issue.

In October 2020, President of Turkmenistan Gurbanguly Berdimuhamedov signed a Resolution on transforming 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.

During a government meeting last Wednesday, the Head of State instructed the Minister of Finance and Economy Muhammetgeldi Serdarov to take releavant measures to organize the activities of the Ashgabat Stock Exchange CJSC.

Ashgabat Stock Exchange CJSC was established on August 17, 2016. The founders of the Exchange are the Senagat JSCB, the Türkmenstandartlary (Turkmen Standards) Main State Service, the State Insurance Organization of Turkmenistan and Atiyäçlandyryş Hyzmatlary (Insurance Services) CJSC.