Turkmenistan’s banking sector continues to grow as modern digital services gain traction. By Dec. 1, 2024, mobile apps served more than 7,000 clients, and loans issued through digital platforms totaled over 23 million manat, as reported by the Neutral Turkmenistan newspaper.

Commercial banks in the country are rapidly adopting new technologies. Halkbank introduced the Halkbank-terminal app, which eliminates the need for traditional payment terminals. Since the start of 2024, the app has processed transactions worth 210.6 million manat, a 3.8% increase from last year.

Senagat Bank launched the Senagat töleg app, which allows users to pay for communication services, internet, TV, and fines anytime and anywhere. The app also enables donations to a charitable fund established in honor of Turkmenistan’s National Leader.

The shift to digital banking has fueled a sharp rise in cashless transactions. In 2013, these transactions totaled 4.2 million manat. By 2023, the figure had grown to 17.3 billion manat. From January to November 2024, cashless transactions reached 18.3 billion manat, a 17% increase from the same period last year.

To improve the security and reliability of financial operations, banks are investing in advanced software, server equipment, and cybersecurity systems.

These innovations are boosting public trust in the banking system, streamlining financial services, and strengthening Turkmenistan’s standing in global financial markets.