In line with the State Program for the Development of the Banking System of Turkmenistan (2011–2030) and the State Program for the Development of the Digital Economy of Turkmenistan (2021–2025), comprehensive measures are being actively implemented to strengthen the competitive potential of banks, expand lending across economic sectors, and ensure financial reporting aligns with international standards.
Additionally, innovative technologies are being introduced to enhance service quality, modernize relevant legislation, and refine regulatory frameworks governing the financial sector.
A key priority is the advancement of the cashless payment system, leveraging modern tools and cutting-edge technologies to optimize efficiency and security. In line with global best practices and evolving market demands, significant emphasis is placed on the continuous modernization of the national electronic payment infrastructure, with a strong focus on protection and reliability.
Furthermore, tangible steps are being taken to diversify banking services, elevate customer experience, and foster institutional growth. This includes the systematic enhancement of infrastructure through upgrades to the material and technical base, integration of advanced software solutions, and the ongoing professional development of banking specialists.
Turkmen State News Agency published a commentary on the latest digital banking services offered by the country’s credit institutions, reflecting the dynamic evolution of Turkmenistan’s financial sector.
Thus, the list of modern digital services provided by credit institutions has grown significantly in the country. Extensive opportunities have been created for conducting non-cash payments through such types of online services as “Internet-bank”, “Mobil-bank”, “Elektron söwda”, “Halkbank terminal”, “Galtaşyksyz töleg”, “VISA Virtual”, “Menzilara-bank”, “Sanly kart”, “Sanly töleg”, “Sanly karz”.
Their use allows to perform various operations in real time, including making loans, monitoring bank accounts, receiving electronic statements and preparing electronic payment orders, opening new bank cards, and viewing transactions.
As noted above, one of the types of digital services is the VISA Virtual bank card, introduced by the State Bank for Foreign Economic Affairs of Turkmenistan as part of the improvement of the national payment system and providing customers with a convenient opportunity to carry out many online transactions.
In addition, the State Bank for Foreign Economic Affairs of Turkmenistan has introduced the Galkynyş payment system, which is designed to make various types of payments in national and foreign currencies online. At the same time, individuals and legal entities, using this system, can make deposits, apply for loans and open bank cards, make transfers, manage their accounts and track the flow of funds, as well as view the history of transactions.
The Galkynyş payment system provides for the digitization of the most labor-intensive and time-consuming jobs, increasing the number and speed of services, improving the efficiency, accuracy and quality of banking activities through the introduction of mobile technologies.
To enhance the availability of digital services and provide a seamless experience for customers, the State Commercial Bank Turkmenistan has introduced the Onlaýn kabulhana service. Through this platform, individuals can conveniently access banking services at any time by visiting the bank’s official website, www.tnbk.tm. Within the “Onlaýn kabulhana” subsection of the “Onlaýn hyzmatlar” section, customers can submit requests for bank-issued certificates, apply for new or replacement bank cards, and initiate loan applications.
To utilize the service, customers must first complete the registration process by filling out the required form and creating a username and password. Once registered, they can securely request the necessary documents through the Onlaýn kabulhana system. Updates on request status are provided via the electronic system and through direct communication with specialists from the bank’s central office or relevant branch.
Upon completion, customers can retrieve their requested documents or banking products by visiting the central office or the designated branch of the bank.
The State-owned commercial banks—Daýhanbank and Turkmenistan, along with the Joint-Stock Commercial Bank Halkbank—offer digital online payment services for students studying abroad, including payments for accommodation in dormitories. Additionally, individuals can pay for medical examinations and treatment abroad, as well as independently replenish their international bank card accounts (VISA and MasterCard) via the Internet.
Under the Menzilara-bank service of Daýhanbank, customers must visit the bank once to submit original payment documents for verification. After opening a foreign currency deposit account, they can apply for user registration. Following registration, users can access the “Online töleg” section on the bank’s official website, complete the required fields, and upload payment documents. The growing demand for this service is reflected in its usage—in January-April 2025, approximately 34.8 thousand customers benefited from it.
Similarly, the Onlaýn halkara töleg service of the Turkmenistan State Commercial Bank enables real-time payment transactions. To activate this service, customers must visit the bank once and submit the necessary documents. A bank specialist then processes the connection, allowing users to access the service via the “Internet-bank” subsection, located under “Onlaýn hyzmatlar” on the bank’s official website, www.tnbk.tm. Interest in this service remains high — in January-April 2025, over 1.5 thousand customers linked their VISA and MasterCard international bank card accounts.
Innovations in the development of cellular communication systems are key drivers in the process of shaping the needs for modern banking products. In this regard, the country’s credit institutions are developing appropriate mobile applications for smartphones, which are used to make non-cash payments, including contactless ones.
The Joint-Stock Commercial bank “Halkbank” offers the mobile application “Sanly töleg“, of through which allows to replenish international bank card accounts on a monthly basis through the official website www.halkbank.gov.tm Information about transactions is sent in the form of SMS notifications to the cell phones of citizens using this service. This type of banking service helps to expand the range of non-cash payments and ensure the efficiency of payment and settlement operations. In January–April of this year, about 6.7 thousand customers of international bank cards VISA and MasterCard connected to the Sanly töleg mobile application.
To streamline loan processing for Turkmen citizens through digital solutions, Halkbank Joint-Stock Commercial Bank has introduced the Sanly karz service for individuals. Through a dedicated mobile application, users can remotely apply for consumer loans via the bank’s official website, track application status, review their credit history, submit required documents in electronic format, and automatically calculate the loan amount.
A key advantage of this mobile application is its real-time verification of customer details, including passport data, bank card information linked to salary deposits, and credit history. To secure consumer loan funds, individuals need to visit the bank only once, significantly saving time and enhancing convenience. Demand for this service continues to grow, as reflected in the January-April 2025 statistics—approximately 1.2 thousand customers applied through the Sanly karz application, resulting in loan disbursements totaling 33,877.7 thousand manats.
Additionally, Halkbank Joint-Stock Commercial Bank has launched the Halkbank-terminal mobile app, developed using advanced and secure technologies. Designed for retail and service industry professionals, this solution replaces traditional payment terminals, enabling merchants to process payments for goods and services and access their transaction history seamlessly.
For smartphones equipped with NFC contactless payment technology, transactions are simplified—users only need to tap a bank card against their device for the payment process to be completed. The system reads the card data, authorizes the transaction, and generates an electronic receipt, which is sent directly to the smartphone. In January-April 2025, the volume of non-cash payments processed through Halkbank-terminal reached 75.3 million manats, marking a 2.94-fold increase compared to the same period last year.
Using the Senagat töleg mobile app offered by Senagat Joint-Stock Commercial Bank, it is possible, regardless of location, to make payments at any time of the day for cellular services, CDMA AGTS (Ashgabat City Telephone Network) cell phone service, Internet, IP-TV and home phones, Internet services of the telecommunications company Turkmentelekom, Beletfilm, Alem-TV plastic cards, as well as fines imposed by the Traffic Police Service of the Ministry of Internal Affairs.
The Senagat töleg allows to make donations to charity in non-cash form by transferring funds to the account of the Gurbanguly Berdimuhamedov Charitable Foundation for Assistance to Children in Need of Guardianship.
The volume of non-cash payments processed through Internet-bank and Mobil-bank systems continues to grow annually, reflecting the increasing adoption of digital banking solutions. Between January and April of this year, transaction volumes reached 1,721.7 thousand and 12,189.8 thousand manats, respectively—demonstrating a steady rise in customer engagement driven by the favorable terms of these services.
Further illustrating this upward trend, the total volume of non-cash transactions conducted through ATMs, terminals, Internet-bank, Mobil-bank, and Elektron söwda amounted to 6,773.9 million manats during the same period, marking a 35% increase compared to the previous year.
To ensure banking services align with evolving technological demands, strategic modernization efforts are underway. These initiatives focus on upgrading network infrastructure, integrating advanced digital information technologies, and enhancing electronic document management systems. Additionally, significant measures are being implemented to strengthen information security, deploy specialized cybersecurity software, install new server equipment and disk arrays, and advance the professional development of banking specialists. ///TDH, 28 May 2025 (abridged)