Today, a scientific and practical conference was held at the Joint-Stock Commercial Bank of Turkmenistan «Senagat» on the occasion of the 30th anniversary of the introduction of the national manat into circulation.
The date of introduction of the national manat into circulation -1st of November, 1993 - entered the annals of the Fatherland as one of the significant events of the epoch of creative changes. The manat has become an attribute of Turkmen statehood, a symbol of economic stability and a guiding factor in strengthening the country's independence.
It should be noted that under the leadership of President Serdar Berdimuhamedov, large-scale reforms are being implemented, an innovative national economy is rapidly developing, which has a positive effect on improving the well-being of the population. The Program «Revival of the new epoch of the powerful state: National program for the socio-economic development of Turkmenistan in 2022–2052» and the Program of the head of state for the socio-economic development of the country in 2022–2028, reflecting the dynamics of the growth of the national economy, are being successfully implemented.
The current event was preceded by a performance by bagshy-sazandars, as well as an exhibition demonstrating the achievements of the banking sector over the past thirty years. Commemorative coins, national jewellery, and materials dedicated to the history of Russian numismatics were exhibited here. A special place was occupied by the books of the National Leader of the Turkmen people, Chairman of the Halk Maslahaty Gurbanguly Berdimuhamedov.
The forum was attended by leaders and specialists of the country’s financial and economic sector, teaching staff and students of specialized educational institutions, as well as representatives of the media.
The agenda of the current conference includes topical issues of the development of the banking system in a new historical era.
The forum participants listened with great attention to the Address of President Serdar Berdimuhamedov, which emphasized that the introduction of the national manat into circulation created positive opportunities for the harmonious development of the economy, stable money circulation and the effective implementation of a unified state monetary policy.
The introduction of digital technologies has made it possible to automate labor-intensive work, intensify the activities of the financial and economic system, and expand the range of banking services provided, which helps to increase its efficiency and speed, the head of state said in his message.
During the scientific and practical conference, reports were made on the role of the national manat and the banking sector in ensuring stable economic growth of the country, international investment cooperation, improving monetary relations, as well as banking technologies and information security in the banking sector.
As noted, thanks to the stable dynamics of its socio-economic development, independent Turkmenistan is among the countries with a level of the share of gross domestic product per capita above average, which is a specific indicator of the effectiveness of the monetary, fiscal, price, investment policies implemented in the country politicians.
Thus, in order to further improve the social and living conditions of citizens, the volume of preferential mortgage lending for the purchase of comfortable housing, consumer loans is consistently increasing, and financial and banking services are being improved.
The transition to a digital economy and software development are being successfully carried out. Digitalization of banking operations allows not only to expand the range of services provided to clients, but also to improve their quality, reduce time for settlements, and also helps banks control cash flows and make appropriate decisions.
Thanks to the steps taken, the national currency – the manat – is increasingly working in a modern electronic format. The use of bank cards «Altyn asyr», «Millikart», «Maşgala», «Goýum bank kartasy», «Overdraft kartasy», as well as international bank cards «VISA» and «MasterCard» by Turkmen citizens has opened a new stage in the development of money circulation.
In accordance with the State Program for the Development of the Banking System of Turkmenistan for 2011–2030, the Concept for the Development of the Digital Economy in Turkmenistan for 2019–2025 and the State Program for the Development of the Digital Economy in Turkmenistan for 2021–2025, measures are being taken to expand the volume of non-cash payments, increasing the stability of the national payment system and increasing the competitiveness of banks.
It should be noted that intensifying investment activity, ensuring a favorable climate for attracting foreign investment and funds from the domestic business sector, increasing the volume of mortgage lending in order to implement large projects of strategic importance are some of the key aspects of the state’s economic reform.
The speakers emphasized the developed socially oriented, flexible economic strategy, taking into account internal interests, as well as the ongoing systematic work to accelerate the integration of our state into the world economic system, to develop cooperation with international financial institutions, where good results are being achieved.
In accordance with the priority tasks set by the head of state for the country's banks, consistent activities are being carried out to strengthen the exchange rate of the Turkmen manat, increase the volume of financing and deposits of the population. Much attention is paid to the financial reporting of banks in accordance with international standards, improving the professional level and qualifications of employees of this system, and modernizing the material and technical base of specialized institutions.
At the end, the participants of the scientific and practical conference adopted an Address of gratitude to President Serdar Berdimuhamedov, in which they assured that they would continue to work selflessly in order to successfully solve the assigned tasks.
