Having opened the session, President Gurbanguly Berdimuhamedov called Deputy Chairman of the Cabinet of Ministers B. Hojamammedov, Minister of Finance M. Muhammedov, chairpersons of the state, joint stock and commercial banks. The Leader of the Nation highlighted that the reports on developed of financial and banking systems would be reviewed. At present moment, the banks provide dynamic rates of economic growth of the country with sufficient monetary funds and support their rational circulation in different spheres. Different institutions of this system are important financial source of large investment projects and as well as number of projects on development of the capital, cities and villages, - the Head of Turkmenistan has said. In this regard, the reports of invited heads would be reviewed and perspective subjects for improvement of banking activity would be discussed during the session. Continuing the session, the Head of the State called Deputy Chairman of the Cabinet of Ministers B. Hojamammedov who informed on the situation in the structures under his supervision. After, the Leader of the Nation received direct video report from Minister of Finance M. Muhammedov on the work for improvement of the budget system as well as on practical measures undertaken for fulfilment of the government programme. Chairman of the Central Bank M. Annadurdiyev who spoke after, reported on the activity of banking establishments, integrated measures for expansion of services rendered by the departments as well as on accumulation of investment funds of the banks. During vide conference session, the heads of state, joint stock and commercial banks reported on given credits and loans to physical persons and legal entities, daily payments and consultative services in financial questions. President Gurbanguly Berdimuhamedov thoroughly studied the data on work of Turkmen banks, charts and diagrams of banking operations performed as for today. The development of market relations in the country sets the requirements to the management system of given establishments, the Leader of the Nation said, having recommended to improve existing services by new forms of marketing as well as to implement advanced technologies of data transfers on daily operations. The President of the country noted that national model of competitive economy on the modern stage, stipulating harmonic combination of market elements and government regulation, provides balanced development of all branches of national economy under current conditions. Complex measures on reformation of monetary and credit, financial, tax and budget spheres are important. Provision of stable monetary circulation supporting further economic growth and improvement of the wellbeing of the people are the strategic target of monetary policy of Turkmenistan. Keeping low inflation rates and leading efficient currency policy, it stipulates the improvement of the structure of monetary and credit base, the establishment of optimal conditions for development of securities and insurance markets, wide implementation of non-cash payment system. The stability of purchasing power of national currency is provided, the volumes of credit resources are intensively accumulated, the liquidity of banking assets and the course to financial stimulation of development priorities of real sector of the economy are kept in the last few years. Practical measures undertaken under the monetary reform allowed increasing the trust to national currency, which is supported by foreign currency reserves. These facts were repeatedly mentioned by competent financial structures, President Gurbanguly Berdimuhamedov continued, having brought the assessment of the expert of the International Monetary Fund as an example. Targeted benchmarks of monetary and credit policy and its most important tools have to be formed in the directions and on the level, which make most favourable conditions for efficient economic strategy. At the modern stage, Turkmenistan faces the objective of global and system reformation in this strategically important field, the Leader of the Nation said. Building own economic model, Turkmenistan placed the protection of national interests on the top. Speaking of the importance of improvement of the role of the banking sphere in further steadfast development of the country, the President of the State focused the attention of the participants on priority directions of future work. The growth of potential and improvement of banking tools according to growing demands of national economy complex were called among strategic goals. Addressing Vice-Premier B. Hojamammedov, the Leader of the Nation commissioned to activate the work on formation of sustainable financial system, which is to provide the development of innovative processes in government and private sectors. President Gurbanguly Berdimuhamedov highlighted that the control and analysis of quality of fulfilment of relative programmes are the key factor in the country’s budget system resource management and requested the Minister of Finances to hold these subjects in the centre of attention. Solution of the objectives related to improvement of the efficiency of the mechanisms of populations and economic entities monetary funds’ accumulation and their transformation to credits and investments has to be aimed at the achievement of positive results, - the head of Turkmenistan continued. Particularly, the Leader of the Nation outlined the increase of credit volumes, first of all, of innovative projects for production of import substitutive goods in accordance with the state programmes among priority vectors of the coming work. The President of the country noted that it is important to undertake specific measures for increasing the number of banking deposits by the population and for expansion of promising types of banking business. It is necessary to perform integrated work for increasing capitalization of the banks, expansion of volumes of non-cash payments, crediting of small and medium entrepreneurship and mortgages under the State programme for development of banking system for 2011 – 2030, Leader of the Nation Gurbanguly Berdimuhamedov continued. The Head of Turkmenistan defined the implementation of new banking production, improvement of services quality among priority measures to be taken in the future. Special accent was made on the issues of training of highly qualified specialists and expansion of cooperation with largest financial organizations of the world. The Leader of the Nation emphasized that consolidation of monetary system is one of the main objectives under market relations. The Head of the State also noted the importance of integrated measures for keeping of low inflation rates, development of financial services and improvement of structure of monetary circulation. In this regard, the President of Turkmenistan pointed the necessity of steadfast work on phased reduction of cash money by implementation and development of non-cash payment systems. Gaining of the experience in this direction by local banks is also priority task for modernization of their activity including in the context of preparation of V Asian Indoor and Martial Arts Games, the Leader of the Nation said. Having stressed the attention on the necessity of active work on development of securities market, the Head of Turkmenistan outlined the mobilization of financial resources for expansion of the scale of project on development of cities and villages, further improvement of life level of the nation as the main activity in this sphere. We will have to do large volume of work in near future, President Gurbanguly Berdimuhamedov said, having stated that the Government pays and would continue paying permanent attention to improvement of banking system. Its stable operation has crucial importance for competiveness, intensive development and active integration of the economy of the country to the system of the world’s economic relations.