Turkmenistan has changed the procedure for cashing out funds for entrepreneurs

20:0608.07.2020
1
57674
Turkmenistan has changed the procedure for cashing out funds for entrepreneurs

The Central Bank of Turkmenistan has made changes to the 14th section of the procedure "on issuing cash or transferring it to the accounts of individuals who receive cashless payments to the Bank accounts of entrepreneurs in authorized credit organizations". The changes only apply to the national currency.

According to the adopted amendments, private entrepreneurs are allowed to:

  • withdraw for business purposes up to 75 percent of cash per month from the amount deposited in cash to Bank accounts.
  • withdraw for business purposes up to 50 percent of cash per month from non-cash funds received from the entrepreneur's POS payment terminals.
  • to withdraw up to 70 percent of cash funds per month from received non-cash payments made in cash in their servicing Bank by the entrepreneur (buyer) on the basis of the purchase and sale agreement for business purposes in their servicing Bank.
Comments
To leave a comment, log in or register