President of Turkmenistan Congratulated Banking System Employees on Their Professional Holiday

President Serdar Berdimuhamedov congratulated the employees of the banking system and the people of the country on the 32nd anniversary of the introduction of the national currency – the manat – which serves as a visible symbol of the growth and remarkable achievements of the national economy.

“The introduction of the national currency created favorable conditions necessary for balanced economic growth, stabilization of monetary circulation, effective implementation of a unified state monetary policy, and the expansion of bank lending to various sectors of the economy.

The strategic directions of the monetary policy, aimed at significantly increasing the activity of the banking sector, are focused on maintaining the stability of monetary circulation and ensuring the harmonious development of the country. They are also aimed at substantially improving the living standards of the population, strengthening the competitiveness of the national economy, and creating macroeconomic conditions conducive to the coordinated integration of the banking system into international financial markets. The banking system plays an important role in achieving this crucial goal. As a key component of the market economy, it ensures the circulation of significant volumes of capital and the creation of investment sources for expanded and continuous production by involving free financial resources in economic turnover,” the head of state emphasized.

“In the International Year of Peace and Trust, as the country solemnly celebrates the 30th anniversary of its neutrality, effective work continues to align the legislative acts regulating banking activities in our country with international standards. To accelerate settlements and money circulation and to introduce contactless technologies that enable secure and fast payments, the scale of the electronic payment system is being expanded.

Substantial progress is also being made in mutually beneficial cooperation with reputable international financial institutions – the International Monetary Fund, the World Bank, the Asian Development Bank, the Islamic Development Bank, the European Bank for Reconstruction and Development, as well as the international rating agency Fitch Ratings. This partnership is aimed at strengthening Turkmenistan’s international investment position and prestige and ensuring the innovative development of the banking system. At the same time, it seeks to significantly expand cooperation with international financial organizations and regional development banks, and to improve lending to economically important sectors,” the President noted.

Serdar Berdimuhamedov wished everyone strong health, family well-being, peace and happiness, and great success in their work for the further development of Turkmenistan.

Source: Electronic newspaper “Turkmenistan: Golden Age”