Financial Audit to Be Conducted in Banks of Turkmenistan

At the Cabinet of Ministers meeting held on November 28, Vice Prime Minister H. Geldimyradov reported on the preparations for auditing the annual financial statements of the country's banks.

It was noted that the State Development Bank, the State Bank for Foreign Economic Affairs, the state commercial banks “Daýhanbank” and “Türkmenistan,” the joint-stock commercial banks “Türkmenbaşy,” “Halkbank,” “Senagat,” as well as the Turkmen-Turkish joint-stock commercial bank plan to announce an international tender to select an auditing company included in the list of reputable international auditing firms. This will make it possible to analyze the accuracy of the financial reporting of the country’s credit institutions and assess the areas of their banking activity.

President Serdar Berdimuhamedov emphasized the need to further improve the banking sector and expand the range of services provided. He approved the proposal to announce an international tender in the mass media for conducting audit inspections of the country’s banks and instructed the Vice Prime Minister to carry out the necessary work.