A representative of the Ministry of Finance and Economy of Turkmenistan attended the 22nd meeting of the Working Group on Financial Cooperation of the Standing Committee for Economic and Commercial Cooperation (COMCEC) of the Organization of Islamic Cooperation, which was held on September 16-17 in Ankara, Turkey.

The purpose of the Turkmen representative’s participation was to exchange best practices in the field of digital transformation of payment systems in the member countries of the Organization of Islamic Cooperation (OIC).

The meeting discussed the financial prospects of the OIC member countries, and a draft research report was presented. In addition, the participants shared their experience in interacting with the private sector, expanding the use of digital formats and their prospects.

The main problems and achievements in the field of digital transformation of payment systems in the OIC member countries and further steps to support COMCEC projects were also discussed.

At the end of the meeting of the Working Group and as a result of the debate session, recommendations were developed for the 40th COMCEC Ministerial Session on the Digital Transformation of Payment Systems in the OIC Member Countries.

The Permanent Committee for Economic and Trade Cooperation of the Organization of Islamic Cooperation (COMCEC) is the main multilateral platform for economic and trade cooperation in the Islamic world. COMCEC serves as a central forum for addressing common development issues of the Islamic Ummah and finding ways to address them.

Today, COMCEC includes 57 member countries, as well as 5 observer countries, which are located on four continents. Turkmenistan has been a full member of this organization since 1992.