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Turkmenistan to introduce MasterCard

Tuesday, January 7
Turkmenistan has conducted preliminary work to introduce the world's largest MasterCard settlement system that unites about 22,000 financial institutions from 210 countries, the Turkmen government said on January 4.

The introduction of the international payment systems in the country was discussed at a government meeting with the participation of President Gurbanguly Berdimuhamedov.

"Contemporary payment systems are an integral part of the financial infrastructure of the market economy, Turkmen president said, stressing that in the current circumstances the introduction of international payment services, including cashless payment, is of special importance," the information said.

Introduction of this system will optimize the organization of settlements and payments, electronic banking services.

The statement by the government also said that it will enable banking institutions of Turkmenistan to accumulate relevant experience, demand for which will increase even more due to V Asian Indoor Games and Martial Arts to be held in Ashgabat in 2017.