The State Bank for Foreign Economic Affairs of Turkmenistan

Partnership for development!

Brief overview

Common Information

Full name
The State Bank for Foreign Economic Affairs of Turkmenistan
Short name
Turkmenvnesheconombank
Chairman of the Board
Jepbarov Rahimberdy Jepbarovich

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Correspondents Relations

The correspondent network of the State Bank for Foreign Economic Affairs of Turkmenistan is the most developed one among Turkmen banks, which allows the Bank effecting payments using payment routes being efficient for the customers, within the shortest periods.

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Turkmenbashi branch

On June 15, 2009, within the framework of solomnities on opening of a number of hotels in “Avaza” National tourist zone, the opening ceremony of a branch of the State Bank for Foreign Economic Affairs of Turkmenistan has taken place in Avaza.

The branch of the Bank has been disposed on the ground floor of newly opened five-star hotel “Hazyna”.

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History of the Bank

The State Bank for Foreign Economic Affairs of Turkmenistan "Turkmenvnesheconombank" - the state commercial bank was founded in January 27, 1992 on the basis of former USSR Foreign Economic Bank by the Decree of the President of Turkmenistan Saparmurat Turkmenbashi. Turkmenvneshecombank, being contemporary of Turkmenistans independence was established for developing and strengthening foreign economic relations and for protecting monetary interest of Turkmenistan.

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Bank projects

At the participating of the State Bank for Foreign Economic Affairs of Turkmenistan the following state investment projects have been realized:

In oil and gas industry:

  • Construction of the plant to manufacture lubricant oils at the Turkmenbashy Oil Refinery
  • Construction of the plant for liquid catalytic cracking and catalytic reforming at the Turkmenbashy Oil Refinery
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Ashgabat city Branch

Ashgabat city Branch of the State Bank for Foreign Economic Affairs of Turkmenistan is located: in Ashgabat , 1945 (10 yil Abadanchylyk ) str. 160.

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Achievements and awards

Recently, in fluencial British journal The Banker has recognized Turkmen State Bank for Foreign Economic Affairs (Turkmenvnesheconombank) as the best banking institution of the country in 2017 with "Bank of the Year 2017 for Turkmenistan" award.

The bank was awarded for the thirteenth time.

This award has recognized the Banks as the leading bank in the financial sector of Turkmenistan. "Constantly expanding its presence in both retail and corporate segment, we strive to create the largest financial institution in Turkmenistan. This approach promotes sustainable economic growth in independent neutral Turkmenistan".