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National manat is a symbol of country’s successful development

The premise of the Turkmen State Institute of Economics and Management hosted a scientific and practical conference “National manat – National pride” dedicated to the 27th anniversary of introduction of the Turkmen currency and organized by the Central Bank of Turkmenistan. The forum gathered heads and specialists of state and joint-stock commercial banks, ministries and departments that are part of the economic block, as well as professors and students of universities.

Since November 1, 1993, the manat has been playing significant role in successful achievement of the designated goals of socio-economic development of Turkmenistan. Its introduction was important step towards establishing the country as a sovereign and full member of the international community. The main topics of the conference reports were “Cooperation with international financial organizations in financing investment projects”, “Role of the banking system in the country’s economy”, “Impact of the national currency on stable economic growth”, “Current situation and future development of the national accounting system”, and “Benefits of modern digital banking services in ensuring the stable monetary policy”.

As Meylisgeldi Hadjiyev, Chairman of the State Commercial Bank “Turkmenistan”, noted, innovative measures to improve the functioning of the banking system are an important element of our economy, aimed at increasing the level of investment in the bank, strengthening private funds, improving banking supervision, expanding the volume of banking operations, etc. “The impact of the banking system on development of the national economy is a huge. In accordance with the decrees of the President of Turkmenistan, the provision of loans on preferential terms for private projects for the development of agriculture is continued,” Hadjiyev said.

In her speech, Ogulbayram Saparova, Senior Lecturer at the Department of Banking, Turkmen State Institute of Finance, emphasized that the country’s credit system plays a key role in development of the digital economy, which quickly adapts to changes in the world and gives clear results. She also noted that the introduction of digital technologies in banking requires knowledge on automation tools, robots, artificial intelligence, and remote service technologies. Currently, housing and other payments are being made through the Internet Banking system, and the relevant work is underway to expand the system’s functions. On the occasion of the next anniversary of introduction of the Turkmen manat, an exposition to showcase coins and souvenirs from precious stones, as well as various national jewelry was launched in the foyer of the institution.

Myahri YAGMUROVA, Photo by Mered Roziyev

Myahri YAGMUROVA, Photo by Mered Roziyev