Turkmenistan increases volume of loans issued to economic entities

By Trend

The volume of loans issued by credit institutions of Turkmenistan to enterprises, organizations, and citizens amounted to 79.45 billion Turkmen manats ($22.7 billion), as of March 1, 2022, which is 11.3 percent more than in the reporting period 2021 (71.36 billion Turkmen manats - $20.38 billion), Trend reports citing Business Turkmenistan news agency.

The total amount of loans issued to citizens and non-state entrepreneurs amounted to 15.88 billion Turkmen manats ($4.54 billion) as of March 1, 2022, which is 21.2 percent more than in the same period of 2021 (13.10 billion Turkmen manats - $3.74 billion).

From January through February 2022, the total volume of cashless circulation of bank cards in Turkmenistan amounted to 1.71 billion Turkmen manats ($489.7 million).

In general, the country's financial sector is constantly expanding. In particular, mobile applications are being introduced to pay for various services and goods, the number of non-cash payments is increasing, and payment for goods and services is being implemented through banking terminals.