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Turkmenistan Aims for Strategic Partnership with German Banks
30.10.2025
61
Turkmenistan is seeking strategic and mutually beneficial cooperation with German financial institutions, with the volume of joint projects with German banks already totaling about $700 million. This was stated by Serdar Yusupov, Deputy Head of the International Finance Department of the State Bank for Foreign Economic Activities of Turkmenistan, during the Turkmenistan Economy Days in Germany.
"Speaking about cooperation with German financial institutions, we aim for it to be of a strategic and mutually beneficial nature. To date, financial institutions such as Deutsche Bank, Commerzbank, as well as the export credit agency Euler Hermes, have proven themselves to be reliable partners in the implementation of a number of joint projects and contracts in key sectors of the Turkmen economy, such as the textile industry, the building materials industry, the medical industry, the oil and gas, and the gas-chemical industries. Cumulatively, the volume of this cooperation amounts to about $700 million," he said at the forum.
Yusupov noted the dynamic development of Turkmenistan's banking system. According to him, the country's banks offer a wide range of services: corporate and retail lending, trade and project financing, various types of deposits, bank cards, domestic and international payments and transfers. Turkmenistan’s banks are integrated into the national payment system of the Central Bank, the international SWIFT system, and the global payment systems VISA and Mastercard.
He highlighted that the country's financial institutions strictly comply with national and international legislation in the field of countering money laundering, the financing of terrorism, and the fight against corruption. Automated financial monitoring systems are being implemented, and a risk-based approach to clients is being applied. Turkmenistan's banks strictly adhere to sanction regimes, including those imposed by the UN, the US, the EU, and the G7 countries.
According to Yusupov, Turkmenistan is consistently moving along the path of deeper integration into the global economy and financial market. The country is open to discussing new plans for cooperation with Germany, based on trust and mutual benefit, in areas such as financial services and investments, documentary business and trade finance, the development of banking infrastructure using modern digital technologies, and the training of highly qualified personnel.
The Turkmenistan Economy Days are taking place on October 30-31 in Frankfurt am Main. The event is organized by the Chamber of Commerce and Industry of Turkmenistan in cooperation with "TMT Consulting Group."
"Turkmenportal" is the official media partner of the forum.
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