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The Turkmen manat is a symbol of the country's successful progress along the path of development
Economy
The Turkmen manat is a symbol of the country's successful progress along the path of development
Published 01.11.2024
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Today, the "Senagat" Joint-Stock Commercial Bank hosted a scientific-practical conference titled "Turkmen Manat - A Symbol of Sustainable Development of the Country" dedicated to the 31st anniversary of the introduction of  national currency of Turkmenistan. 

The forum was attended by leaders and specialists from state and joint-stock commercial banks, the financial and economic system, professors and students from higher education institutions and specialized professional schools, as well as media representatives.

The conference agenda included topics such as the economic successes achieved in our country following the introduction of the manat, the implementation of national monetary policy, the provision of modern banking services through digital technologies, the improvement of electronic payment systems, and cooperation with international financial structures.

On this significant occasion, President Serdar Berdimuhamedov sent a congratulatory message to banking employees, emphasizing that the introduction of the national manat created positive opportunities for harmonious economic development, stable monetary circulation, and effective implementation of a unified state monetary policy. According to the head of Turkmenistan, its strategy involves creating favorable macroeconomic conditions to ensure stable monetary circulation, achieve stable economic development, improve the material well-being of the population, strengthen the competitiveness of the national economy, and successfully integrate the banking system into the international financial market.

Today in Turkmenistan, comprehensive national programs for socio-economic development are being successfully implemented with medium- and long-term perspectives. These include "Revival of the New Epoch of the Powerful State: The National Program for the Socio-Economic Development of Turkmenistan in 2022–2052," "Program of the President of Turkmenistan for the socio-economic development of the country for 2022–2028," and "National Program of the President of Turkmenistan to Transform the Social and Living Conditions of the Population in Villages, Settlements, Cities, Etraps, and Etrap Centers until 2028," as well as "Program for Socio-Economic Development and Investment in Turkmenistan in 2024."

Within the framework of activities defined by the State Program for the Development of the Banking System of Turkmenistan for 2011-2030, specific steps are being taken to introduce new types of banking operations and innovative technologies, improve business process management, develop mortgage lending, convert banks' financial reporting to international standards, enhance employee qualifications, and more. The country's banks are conducting targeted work to further improve service quality, including online banking, implementing promising ideas, and reaching new levels of service.

It was emphasized that one key aspect of economic development is stimulating investment activity by creating a favorable climate for attracting foreign investments and funds from the domestic entrepreneurial sector while increasing mortgage lending volumes to realize major strategic projects.

One main indicator of Turkmenistan's effective investment policy is its timely fulfillment of foreign financial obligations. In this regard, our country's highly responsible approach to expanding international trade cooperation based on principles of mutual respect, equality and trust was noted as essential for realizing Turkmenistan's investment potential.

It was highlighted that grand goals set by Hero-Arkadag are now being successfully achieved under President Serdar Berdimuhamedov's leadership, creating necessary conditions for increasing investment activity.

It is important to note that Turkmenistan's successes have been repeatedly recognized by experts from reputable financial institutions.

Forum participants unanimously agreed that constructive dialogue and joint efforts in finding effective cooperation paths—especially in economics—are foundational to developing mutually beneficial relations with all interested partners on the international stage, including major financial institutions.

In terms of preparing personnel for the banking sector, it was noted that Turkmenistan provides all opportunities for offering modern education to young people and training future economists.

Discussing future tasks facing workers in this field today, forum participants emphasized that key directions include ensuring effective circulation of the Turkmen manat as a payment medium, studying experiences from major global banks, implementing modern management methods in finance, among others.

Upon concluding the scientific-practical conference, participants adopted a letter of gratitude addressed to President Serdar Berdimuhamedov.

To mark this significant date, an exhibition was set up in the foyer of "Senagat" Joint-Stock Commercial Bank showcasing commemorative coins made from precious metals issued during years of independence, as well as various original national jewelry pieces.

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