Question 1

What is Turkmenistanbank?

Accepted Answer

Turkmenistanbank (officially State Commercial Bank of Turkmenistan "Turkmenistan") is a state-owned commercial bank in Turkmenistan specializing in industrial and infrastructure financing. The bank operates as one of the major state financial institutions in the country, providing comprehensive banking services with a particular focus on supporting industrial development, construction projects, and social infrastructure. Wholly owned by the Government of Turkmenistan, the bank plays a strategic role in financing national development programs and serving both individual and corporate clients.

Question 2

When was Turkmenistanbank founded?

Accepted Answer

Turkmenistanbank was established on December 3, 1998, by Decree of the President of Turkmenistan No. 3970. A new Charter was subsequently approved through Decree No. 14408 on September 18, 2015, and registered by the Ministry of Economy and Development of Turkmenistan on November 10, 2015, and by the Central Bank of Turkmenistan on October 17, 2015. This restructuring modernized the bank's operations and expanded its capabilities to support Turkmenistan's evolving economic development priorities.

Question 3

Where is Turkmenistanbank headquartered?

Accepted Answer

Turkmenistanbank is headquartered at 79 Gorogly Street, Ashgabat, Turkmenistan, 744000. The headquarters in the capital serves as the central hub for the bank's management, administration, and strategic operations. This location houses the main offices and provides oversight for the bank's extensive branch network across the country.

Question 4

Where does Turkmenistanbank operate?

Accepted Answer

Turkmenistanbank operates throughout Turkmenistan with 23 branches distributed across different regions of the country. The bank maintains a presence in all major cities and regions, with branches in Ashgabat (including specialized branches such as Kopetdag, Kesearkach, Galkynysh, Diyar, Gundogar, Buzmeyin, and Bagtyyarlyk), as well as locations in Balkan, Dashoguz, Lebap, Mary, and the new Arkadag city. This comprehensive geographical coverage enables the bank to serve customers across all five provinces (welayats) of Turkmenistan.

Question 5

What services does Turkmenistanbank offer?

Accepted Answer

Turkmenistanbank provides comprehensive commercial banking services including loan issuance, deposit attraction and placement, foreign currency purchase and sale, money transfers, and participation in national construction financing programs. The bank offers various types of loans including production loans, small loans, and overdraft banking services for businesses and individuals.

Digital banking services include a full-featured internet banking platform and a mobile banking application available for both Android and iOS devices. The bank provides deposit products, cash settlement operations, electronic payment processing through the DBS system, and electronic list management. Customers can apply for loans and bank cards online, including specialized products such as the "Maşgala" family card, "Goýum" savings card, and cards with "Cash back" services.

Question 6

What makes Turkmenistanbank unique?

Accepted Answer

Turkmenistanbank distinguishes itself through its specialization in industrial sector financing and infrastructure development projects. The bank plays a unique role in supporting Turkmenistan's national construction programs and industrial development initiatives, setting it apart from other state banks that focus on agriculture or foreign trade.

The bank's comprehensive digital banking infrastructure, including both internet banking and mobile applications, demonstrates its commitment to modernizing financial services. Turkmenistanbank's extensive branch network of 23 locations, combined with its focus on industrial and production financing, positions it as a key institution for business banking and economic development in Turkmenistan.

Question 7

What type of financial institution is Turkmenistanbank?

Accepted Answer

Turkmenistanbank is a universal state commercial bank with a specialization in industrial and infrastructure financing. Operating as a wholly state-owned institution under the regulatory oversight of the Central Bank of Turkmenistan, the bank holds dual licenses for operations in both national currency (License No. 90, dated January 9, 2001) and foreign currency (License No. 25, dated January 9, 2001). This licensing structure enables comprehensive banking operations to support both domestic and international business activities.

Turkmenistanbank

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About Turkmenistanbank in Turkmenistan

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