BAKU, Azerbaijan, July 3. The volume of
non-cash payments conducted through the internet banking system in
Turkmenistan increased by 123.8% in January-April 2026.
This was calculated by Trend based on data published by the
Central Bank of Turkmenistan.
Trend calculations based on the official data show that
transaction volumes at Turkmen-Turkish JSCB and Dayhanbank SCBT
grew by 403% and 141.7%, respectively.
Turkmenistan State Commercial Bank (SCBT) and Halkbank recorded
increases of 38.3% and 9.9%, respectively, according to Trend
calculations.
Meanwhile, Senagat JSCB and Turkmenbashi JSCB posted declines in
internet banking payment volumes.
Their transaction volumes fell by 31.9% and 53.8%, respectively,
Trend calculations show.
For reference, the Central Bank of Turkmenistan launched
cashless payments in 2001 with the introduction of the domestic
"Altyn Asyr" card scheme. While initial infrastructure was
developed in the 2000s, broader adoption gained momentum in the
mid-2010s as a result of government efforts to digitalize the
economy.
Meanwhile, Denis Yudin, Head of Business Development Department
at Colvir Software Solutions, told
Trend in an exclusive interview that remote banking and mobile
channels are expected to be among the most promising areas of
financial sector development in Turkmenistan.
"The most promising areas are those that respond both to the
government’s digitalisation agenda and to the real needs of the
banking market. First and foremost, these include remote banking
and the development of mobile channels," Yudin said.
According to him, these solutions are no longer viewed as
optional services but have become a core element of the modern
banking model, enabling customers to access services anytime and
from any device.
