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November 1st, 1993, marks the day of introduction of the national monetary unit, the manat.
In commemoration of this event, President Gurbanguly Berdimuhamedov addressed the people of Turkmenistan with a congratulatory speech.
The Address, in particular, says:
“Dear compatriots! Dear employees of the banking system!
I sincerely congratulate you on the 28th anniversary of the introduction into circulation of the national currency of Turkmenistan - the manat, which is a symbol of economic achievements and successes of the era of power and happiness!
The introduction of the national manat into circulation has created favorable conditions for the harmonious development of the country's economy, the effective implementation of a single state monetary policy.
In the year marked under the motto "Turkmenistan - Home of Peace and Trust" and marked by the 30th anniversary of the sacred independence of our state, the banking system, which is the most important segment of the national economy, exhibits accelerated growth. Currently, improving the reliability of the banking sector is a priority of state policy. The main tasks in ensuring sustainable development are the introduction of digital technologies, effective methods of investment management and elimination of risks, the development of corporate governance systems and business improvement, and increasing the income and profitability of banks.
The effectiveness of the implementation of our national programs is well-known at the global level. International organizations positively assess the sustainable economic development of Turkmenistan. Despite the continuing serious problems in the world economy, the financial rating of our country is systematically strengthening, as evidenced by the ratings assigned to Turkmenistan by the International Rating Agency.
At present, work is underway to bring the regulatory documents governing banking into compliance with international standards. According to the requirements of the time, the volume of banking services is increasing. In order to speed up settlements and turnover of funds in the banking sector, the scale of electronic payments is expanding. Effective work is being carried out to increase the financial literacy of the population. Classes are systematically held to improve the qualifications of bank employees.
The stable socio-economic development of our state makes it possible to systematically increase the level of the people's well-being. The successes achieved are specific indicators of the effectiveness of the monetary, fiscal, pricing and investment policies being implemented in the country. The successes we have achieved are confirmed by the International Monetary Fund, the World Bank and other authoritative international structures.
We will continue to pay special attention to the consistent improvement of monetary policy, an increase in lending to the industrial sectors of the national economy, and the stimulation of small industries. Also, targeted measures will be continued to increase the volume of credit financing of the population, form affordable interest rates, improve the quality of banking services, develop fruitful cooperation with international financial institutions, and widely introduce innovative technologies into the work of banks.
Dear compatriots! Dear employees of the banking system!
Once again, I sincerely congratulate you on the 28th anniversary of the introduction of the national currency - the manat! I wish you good health, family well-being, happiness, great success in your activities for the sake of the further prosperity of our sovereign Motherland! "
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