Ashgabat, Turkmenistan, Apr. 28
By Huseyn Hasanov Trend:
Turkmenistan’s State Bank for Foreign Economic Affairs (Vnesheconombank) will render services on money transfers for the education and habitation of Turkmen citizens abroad, the bank said in a message.
About 10,000 local banks are registered in Turkmenistan, half of which is state-commercial banks; however, only Vnesheconombank carries out payments for education abroad.
Payments to foreign educational institutions will be made through the SWIFT payment system (Society for Worldwide Interbank Financial Telecommunications).
The service will be carried out at the expense of non-cash foreign currency sold to an individual for cash and non-cash payment in national currency.
The Society for Worldwide Interbank Financial Telecommunication provides a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardized and reliable environment.
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