Editing Economy of Turkmenistan (section)

===Banking===
The financial system is under full state control.<ref name=":1" /> The banking system, which was reduced substantially after the 1998 financial crisis, includes 9 national banks.  These include a nominally private bank owned by the Union of Industrialists and Entrepreneurs, Rysgal Bank, and Turkmen-Turkish Bank, a joint venture between Dayhan Bank and Turkish state-owned Ziraat Bankası.<ref name=cbt>{{cite web|url=https://www.cbt.tm/ru/banklar.html|title=Банки Туркменистана|language=Russian|publisher=Central Bank of Turkmenistan}}</ref> These institutions have the same basic division of responsibility as in the Soviet era, overseen by the [[Central Bank of Turkmenistan]].<ref name=":1" /> Lending operations and household savings have not been important functions of this system.<ref name=":1" /> In 2005 an estimated 95 percent of loans went to state enterprises.<ref name=":1" />  Two branches of foreign banks, [[National Bank of Pakistan]] and [[Bank Saderat Iran|Iran Saderat Bank]], are located in [[Ashgabat]], where they offer retail banking services.  Two German banks, [[Deutsche Bank]] and [[Commerzbank]], offer institutional services through offices in Ashgabat.

As of 1 January 2021, total assets of all banks in Turkmenistan amounted to 135.8 billion manats.<ref name=cbt1>{{cite news|url=https://www.cbt.tm/tm/journal/journal.html|title=Bank habarlary|volume=2021|number=1|page=35|date=January 2021|language=Russian, Turkmen|publisher=Central Bank of Turkmenistan}}</ref>  Deposits by individuals totalled 3.3 billion manats, including 2.8 billion in [[demand deposit]]s and 437 million manats in [[time deposit]]s.<ref name=cbt2>{{cite news|url=https://www.cbt.tm/tm/journal/journal.html|title=Bank habarlary|volume=2021|number=1|page=38|date=January 2021|language=Russian, Turkmen|publisher=Central Bank of Turkmenistan}}</ref> Business deposits totalled 39.1 billion manats, of which 14.6 billion in demand deposits and 53.7 billion in time deposits.  Total business deposits were broken out into state-owned firms (32.5 billion manats), privately owned firms (21.1 billion manats), and individual unincorporated entrepreneurs (7.9 billion manats).<ref name=cbt3>{{cite news|url=https://www.cbt.tm/tm/journal/journal.html|title=Bank habarlary|volume=2021|number=1|page=37|date=January 2021|language=Russian, Turkmen|publisher=Central Bank of Turkmenistan}}</ref>

In 2019, 84.1 billion manats worth of credit was extended to individuals, firms, and organizations, up from 76.3 billion in 2018 and 69.2 billion in 2017.  Of these figures, 60.9 billion, 52.1 billion, and 46.7 billion were in Turkmen manats, respectively.<ref name=stat2020h>{{cite book|title=Türkmenistanyň Ýyllyk Statistik Neşiri 2019 Ýyl|page=138|date=2020|place=Ashgabat|language=Turkmen, Russian, English|publisher=State Committee of Statistics of Turkmenistan}}</ref>

====Credit and debit cards====
Several types of national plastic cards are used in Turkmenistan: Milli Kart, Altyn Asyr, Turkmen Kart.<ref>{{cite web | url=https://centralasia.news/23884-turkmenistan-prodolzhit-razvivat-sferu-beznalichnyh-raschetov-i-internet-bankinga.html | title=Туркменистан нарастил объёмы безналичных расчётов и интернет-банкинга » Новости Центральной Азии }}</ref>  The number of bank cards issued in Turkmenistan for 2023 amounted to over 5 million 177 thousand units, according to the Central Bank of Turkmenistan.<ref>[https://turkmenportal.com/blog/56538/banki-turkmenistana-vypustili-bolee-5-millionov-plastikovyh-kart-na-yanvar-2023-goda]</ref> [[Debit card cashback|Cashback]] services are provided by Halkbank, Daykhanbank, Rysgal Bank, Senagat Bank, Turkmenbashi Bank, Turkmenistan Bank, Turkmen-Turkish Joint-Stock Commercial Bank. Cashback amounts range from 2% to 3%.<ref>{{cite web | url=https://sng.today/ashkhabad/31851-v-turkmenistane-vyrosli-obemy-beznalichnyh-raschetov-i-internet-bankinga.html | title=В Туркменистане выросли объёмы безналичных расчётов и интернет-банкинга » "СНГ СЕГОДНЯ" - последние новости стран СНГ читайте на SNG.TODAY }}</ref><ref>{{cite web | url=https://centralasia.news/23884-turkmenistan-prodolzhit-razvivat-sferu-beznalichnyh-raschetov-i-internet-bankinga.html | title=Туркменистан нарастил объёмы безналичных расчётов и интернет-банкинга » Новости Центральной Азии }}</ref> In Turkmenistan, the card can be used to pay not only for purchases in a store, but also for the services of healthcare institutions, utility bills and services of all types of communications and the Internet, railway, bus and air tickets. In 2019, [[contactless payment]] technology was introduced in the country for the first time.<ref>[https://turkmenportal.com/blog/21886/beskontaktnuyu-sistemu-mastercard-zapuskaet-turkmenistan]</ref>

The number of [[Automated teller machine|ATM]]s in 2023 in the country was 2,144 devices with 42,131 bank payment terminals. The number of users of the Internet Bank service reached 932,730 people with the Mobile Bank service reaching 60,654. 

Turkmen banks have the ability to issue new [[Visa Inc.|Visa]], [[MasterCard]] and [[Maestro]] cards. Using MasterCard and VISA plastic cards supported by international payment systems, citizens of Turkmenistan can make non-cash payments and withdraw funds from ATMs in foreign countries.<ref>[https://tfeb.gov.tm/page/46]</ref>