The formation of a reliable national banking sector with the integration of digital technologies is given a significant place in the economic strategy of Turkmenistan, initiated by the National Leader of the Turkmen people, Hero-Arkadag Gurbanguly Berdimuhamedov and now successfully implemented by President Serdar Berdimuhamedov. The solution to this problem is among the priorities, since the organisation of the activities of credit institutions in accordance with the realities of the time contributes to ensuring the competitiveness and innovative development of the domestic economy, its integration into the system of world economic relations.

One of the important steps towards achieving concrete results in this direction was the adoption and implementation of the «State Program for the Development of the Banking System of Turkmenistan for 2011-2030», «State Program for the Development of the Digital Economy of Turkmenistan for 2021-2025» and a number of others. In accordance with the measures defined for implementation in these documents, targeted work is currently being carried out in the country to improve the competitiveness of banks, increase the volume of lending to sectors of the economy, transfer banking financial reports to world standards, improve the relevant legislative framework, etc.

Great importance is attached to the implementation of non-cash payments using advanced methods and the latest technologies, expanding the range of operations using bank cards and various mobile applications that are in demand by the time and actively used in world practice, upgrading the electronic payment system on a regular basis and ensuring their protection. At the same time, practical steps are being taken to introduce new types of banking products, significantly improve the quality of service, form the appropriate infrastructure, its software and hardware, and improve the level of qualification of specialised specialists.

The key aspect of radical changes in this area is the digitalisation of services, which involves the creation of a powerful, reliable and flexible technological platform capable of processing large volumes of data in a short period of time and providing a full range of services.

Thus, today Turkmenistan has created broad opportunities for the provision of modern digital services by the country's credit institutions. These include «Internet Bank», «Mobil Bank», «Elektron Söwda (Electronic Commerce)», «Halkbank Terminal», «Galtaşyksyz Töleg (Contactless Payment)», «VISA Virtual», «Menzilara Bank (Remote Bank)», «Sanly Kart (Digital Card)», «Sanly Töleg (Digital Payment)», «Sanly Karz (Digital Loan)». They can be used to perform various operations - applying for loans, viewing bank accounts online, receiving electronic statements and preparing electronic payment orders, opening new bank cards online, transferring funds from one card to another, making payments for goods/services.

A significant practical step in this direction was the introduction of the international payment systems «VISA» and «MasterCard» in our country. This, in turn, allowed Turkmenistan to integrate into the global banking services industry, raise the business image of leading domestic banks, enter a wide market, attract a larger number of clients, and effectively use the gigantic infrastructure for making payments on a global scale.

In order to meet the needs of our citizens, expand the range of Internet services offered, ensure the security of bank cards and reduce the risks associated with making payments, it is worth noting the innovation introduced by the State Bank for Foreign Economic Activity - the «VISA Virtual» bank card.

In addition, the State Commercial Banks «Daýhanbank» and «Türkmenistan», as well as the Joint-Stock Commercial Bank «Halkbank» currently offer digital services designed for online payment of tuition and accommodation in student dormitories abroad. Also, with the help of this electronic payment system, you can pay for examination and treatment of individuals outside the country, independently top up international bank cards «VISA» and «MasterCard» via the Internet.

One of the new types of banking services is the «Menzilara-bank (Remote Bank)» of the State Commercial Bank «Daýhanbank». The introduction of this service contributed to a significant modernization of bank account management, prompt execution of various banking operations, in particular, money transfers, checking balances and receiving account statements, as well as determining the procedure for repaying loans and deposits. The demand for this type of service is evidenced by the fact that as the 1^st of December, 2024, more than 24.1 thousand clients who used the «Menzilara-bank» service received funds on their «VISA» and «MasterCard» international payment cards, and over 6.3 thousand clients received funds for tuition fees.

In this context, it is also worth noting the importance of the service «Onlaýn halkara töleg (Online international payment)» of the State Commercial Bank «Türkmenistan». As of the 1^st of December of this year, about 1.4 thousand clients have connected to it to top up their international bank cards «VISA» and «MasterCard».

Progress in the evolution of mobile communication devices requires an increase in the range of banking services, including for the purpose of improving contactless payment technologies. Therefore, the country's credit institutions are developing corresponding applications for smartphones that allow for non-cash payments, in particular contactless ones.

Among such innovations is the mobile application «Sanly töleg» of Joint-Stock Commercial Bank «Halkbank», which offers clients a reliable and easy way to top up their international bank card accounts monthly through the official website www.halkbank.gov.tm. Users can view the transaction history and manage their finances directly from their phone. According to available data as of the 1^st of December of this year, about 18.3 thousand clients were connected to the application, who were able to transfer funds to international bank cards «VISA» and «MasterCard».

As a result of the comprehensive measures taken on behalf of President Serdar Berdimuhamedov, lending is currently becoming a common service. In order to simplify the process of obtaining loans, the Joint-Stock Commercial Bank «Halkbank» introduced the «Sanly karz» system for individuals in July 2024. Using a special mobile application, clients can remotely contact the bank to obtain a consumer loan, independently check their credit history, and determine the maximum loan amount.

Speaking about the advantages of this service, it should be noted that citizens wishing to use it only need to visit the bank once. The passport data proving the client's identity, the details of the bank card to which the salary is transferred, and the credit history are checked automatically. In particular, the borrower does not need to provide any documents to the bank. As of the 1^st of December, 2024, 7,054 clients applied through the mobile application, and credit funds in the amount of 23,168.4 thousand manats were issued. Currently, other credit institutions in the country are carrying out certain work to introduce this type of service.

Joint-Stock Commercial Bank «Halkbank» also launched the mobile software «Halkbank-terminal», developed on the basis of modern and reliable technologies, which can replace the usual payment terminal used for cashless payments, i.e. payment for goods and services. A clear indication of the demand for the new application is the growth in the volume of cashless payments made through the «Halkbank-terminal» service. Thus, for January-November 2024, this figure amounted to 210.6 million manats, which is 3.8 percent higher than the same period last year.

Through another new mobile application «Senagat töleg» of Joint-Stock Commercial Bank «Senagat», users have the opportunity at any time of the day, regardless of their location, to pay for mobile telephone service «TMCell» of Closed Joint-Stock Company «AltynAsyr», CDMA mobile phone service of ACTN (Ashgabat City Telephone Network) and home phones, for the Internet, IP-TV, Internet services of telecommunication companies «Türkmentelekom», «Beletfilm», «Älem-TV plastic cards», as well as fines assessed by the Road Supervision Service of the Police of the Ministry of Internal Affairs.

Since time immemorial, the mentality of the Turkmen people has been based on such noble principles as humanism, mutual assistance, and the desire to do good. For these purposes, a Charitable Foundation for Assistance to Children in Need of Guardianship was established in our country, which bears the name of the National Leader of the Turkmen People, Chairman of the Halk Maslahaty of Turkmenistan, Hero-Arkadag Gurbanguly Berdimuhamedov. Today, the Foundation is carrying out a great deal of work for the harmonious spiritual and physical development of youth and the upbringing of children and adolescents left without parents or guardianship of persons replacing them.

With the help of the mobile application «Senagat töleg» Turkmen citizens are given the opportunity to make donations to charity in non-cash form, i.e. transfer funds to the Fund's account.

In order to expand the range of non-cash payments, under the wise leadership of the head of state Serdar Berdimuhamedov, funds are constantly invested in improving the activities of banks, including through the introduction of online banking services such as «Internet-bank», «Mobil-bank», «Elektron söwda (e-commerce)». With their help, wide opportunities open up for meeting the needs of customers in banking operations and services, simplifying money transfers and, as a result, saving time and money of the population. A clear confirmation of the demand for the services of «Internet-bank» and «Mobil-bank» is the growth rate of non-cash payments made for the period from 2018 to the 1^st of December, 2024.

The volume of non-cash payments made through modern banking services introduced in the country amounted to 4.2 million manats in 2013, this figure exceeded 17372.7 million manats in 2023, and reached over 18329.2 million manats in January-November 2024. This indicator is 17 percent higher than the same period in 2023. The following diagram shows the growth dynamics of non-cash payments made in the country.

The advantages of using bank cards, including international ones, are obvious. Of the total number of advantages of using digital services, we can highlight the following: reduced risks of losing large sums of money, the ability to quickly pay for a purchase and convert currency and, importantly, ease and convenience of monitoring your personal budget.

Regarding the technical equipment necessary for the provision of banking services and its protection, it should be noted that the material and technical base of the country's credit institutions is being consistently strengthened, including through the purchase and widespread implementation of appropriate software to counter cyber threats, the installation of new server equipment and disk arrays in demand for efficient operation.

In general, the fundamental structural changes implemented in this area, the processes of modernisation of banking services contribute to the increase of trust in the institutions of this system and its attractiveness, simplification of the procedure for attracting cash deposits from individuals and legal entities and their issuance, further development of the banking sector and its integration into international financial markets. At the same time, the large-scale work carried out under the leadership of President Serdar Berdimuhamedov to accelerate the transition of the economy of Turkmenistan to innovative rails creates favorable macroeconomic conditions for achieving sustainable economic development, growth of welfare of the population.