The State Bank for Foreign Economic Activity of Turkmenistan has introduced a simplified procedure for international money transfers, aiming to make cross-border financial transactions more accessible to the country's population, as reported by the Agency for Transport and Communications under the Cabinet of Ministers of Turkmenistan.
Clients need to provide only a minimal set of documents to make a transfer: an opened foreign currency account and a form of identification. The system allows transfers in freely convertible currency, enhancing convenience and simplicity in financial operations.
The bank emphasizes its commitment to maximizing the accessibility of international financial services for the population.
Individuals can obtain detailed information about the new service from bank specialists or by visiting the official website of the Foreign Economic Bank of Turkmenistan.
The State Bank for Foreign Economic Activity of Turkmenistan acts as the government’s agent in international capital markets, securing loans for strategic projects. It also represents Turkmenistan in the Islamic Development Bank.
On December 1, 2023, The Banker magazine, part of the Financial Times Group, recognized it as the Best Bank in Turkmenistan for the 15th time.