On October 31, 2020, Turkmen State Institute of Economics and Management has hosted scientific and practical conference timed to the 27th anniversary of introduction of national currency, manat.Heads and specialists and the state, joint stock and commercial banks, professors and lecturers and students as well as representatives of the Academy of Sciences of the country and mass media took part in the forum, the State News Agency of Turkmenistan reports.
The agenda of the conference included current subjects of development of national banking system as well as analysis of impact of global factors on development of the economy of Turkmenistan.
Reports on fundamental changes in this sphere in the context of implementation of the State Program of development of banking system in 2011 2030 as well as on development of monetary and credit policy and digital technologies, expansion of cooperation with international financial structures, history of monetary circulation in Turkmenistan have been presented during the forum.
It was mentioned that formation of favorable climate for attraction of foreign investments and resources of national entrepreneurship sector, increment of credit volumes for implementation of big strategic projects are the main aspects of economic strategy of the country.
Number of normative and legal documents has been developed in the last years considering international standards existing in this field.It includes the Laws of Turkmenistan on Central Bank of Turkmenistan, on Credit Facilities and Bank Activity, on Micro financial Organizations and Micro Financing, on Credit Unions, On Foreign Currency Regulation and Foreign Currency Control in Foreign Economic Relations, on Mandatory Guarantee of Individual Deposits.
The focus in the report has been made on activation of cooperation with International Monetary Fund, the World Bank, European Bank for Reconstruction and Development, Asian Development Bank, Islamic Development Bank and other.