Turkmenistan Begins Issuing New Soft Loans to Newlyweds

BUSINESS TURKMENISTAN
Turkmenistan Begins Issuing New Soft Loans to Newlyweds
According to the updated procedure, newlywed couples in Turkmenistan can take up to 20,000 manats for 3 years at 1 percent per annum.

In Turkmenistan, changes have been made to the procedure for issuing soft loans for the purchase of necessary household and household goods to newlywed couples, as well as issuing loans for real estate for the purchase of new housing.

The relevant Resolution of the Chairman of the Central Bank of Turkmenistan was registered and published by the Ministry of Justice of Turkmenistan in early November.

According to the updated procedure, newlywed couples in Turkmenistan can take up to 20,000 manats for 3 years at 1 percent per annum.

This loan can be obtained by young couples under the age of 35, whose marriage was registered after September 3, 2011.

The main documents that young families need when applying for a soft loan in credit organizations of Turkmenistan are:

  • application of the borrower for a loan addressed to the head of the credit institution;
  • copies of passports of the borrower and his spouse;
  • a copy of the marriage certificate;
  • certificate from the place of work of the borrower (about employment and salary);
  • certificate of the borrower's salary for the last 12 months (monthly);
  • a copy of the work book (certified by the seal);
  • a certificate stating that the borrower and his/her partner have not been married since the age of 16;
  • copies of the passports of two guarantors, certificates from the place of work (on employment and salary), certificate of wages for the last 12 months, a copy of the work book (certified with a seal).

On September 23, 2022, President of Turkmenistan Serdar Berdimuhamedov signed a Resolution on increasing the amount of soft loans in order to further improve the living conditions of young families in the country.

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