The State Bank for Foreign Economic Affairs of Turkmenistan has been established in 1992 by virtue of the Decree of the President of Turkmenistan with ref.No. УП-278 dated 27.01.1992.

Brief overview of the bank:

- The Bank acts as an Agent of the Government of Turkmenistan within the international capital markets, attracts foreign investment loans for financing the priority projects with the purpose of social-economic development of the country’s infrastructure.

- The Bank actively draws financial resources for the top branches of Turkmenistan’s economy and leads the foreign economic interests of itself and its clients.

- According to its specific activity the Bank maintains cooperation and interaction with various foreign financial institutions: commercial and investment banks, export credit agencies and development banks of North America, Europe and Asia, which allows the Bank to successfully assimilate and implement in its activities the stored world banking business experience.

- The Bank is in possession of License No. 97 issued by the Central Bank of Turkmenistan on 20.02.2003 empowering to conduct credit-clearing and other transactions in Turkmenistan’s instruments of payment.

- The Bank is in possession of general License No. 32 issued by the Central Bank of Turkmenistan on 20.03.2003 empowering to conduct foreign exchange transactions.

- The Bank has been the subscriber of information-commercial system REUTERS DEALING since 1993.

- The Bank has been the Principal member of VISA International since 1994.

- Since 1996 the Bank has been issuing the MILLIKART plastic national card.

- The Bank has been the member of international SWIFT system since 1997.

- The Bank has been the member of Turkmenistan Chamber of Commerce and Industry since 1997.

- An independent auditor - KMPG since 2005.

- The Bank is a member of Turkmenistan Interbank currency exchange.

- Since 1994 has been the Office of the Islamic Development Bank’s Governor from Turkmenistan.

- "The Banker" magazine at the sixth time confirmed the successful activity of the Bank starting from 2001 to 2004 and further from 2006 to 2007, which has awarded the Bank with the title "The Bank of the Year in Turkmenistan". This attainment proves the leading position of the Bank in the banking system of Turkmenistan as well as its efficiency and reliability, professionalism and solidarity of the Bank’s staff.