The President of Turkmenistan announced the Chairman of the Central Bank Merdan Annadurdyev a triumphant reprimand “for improper performance of official duties, shortcomings in the work”. The head of state signed the corresponding order today during a working meeting, the Vatan news program of the Turkmen television reported.

A severe reprimand was announced “with the last warning about the correction of the shortcomings in the shortest possible time,” the document emphasizes.

Addressing the Chairman of the Central Bank M. Annadurdyev, the President of Turkmenistan pointed out that the Government has many claims to the activities of banks. The Central Bank should take an active part in financing priority national investment projects and strengthen the work of other banks in lending to industrial sectors of the economy.

“Your main task today is to maintain a stable exchange rate of the national currency. However, this work is not being done properly now. In addition, instead of strengthening the rate of the manat, the heads of the banks do not participate in this activity,” the head of state said.

At present, the balances of overdue outstanding loans are approaching 1 billion manat, which shows the quality of the banks' work. Despite this, they do not take appropriate measures to repay loans, do not pursue a flexible credit policy aimed at financially supporting private producers, the leader of the nation said. Also, the system of collateral is not simplified when issuing credit funds.

The government's decision on financial support for agricultural producers is being implemented unsatisfactorily. Measures to introduce non-cash payments are improperly organized. At a low level, joint work to ensure the population's solvency for electricity, natural gas, utilities, train tickets and other payments using cards, the head of state emphasized.

In accordance with the leader of the nation, the activities of the banking complex will once again be considered in detail at the end of the six months. Then the final assessment of the work of the Chairman of the Central Bank and other heads of banks will be given.