State Bank for Foreign Economic Affairs
The bank more than doubled its net profit last year, underpinned by a modest increase in Tier 1 capital and assets. At the same time, careful attention was paid to staff well being through a social assistance programme that offers guaranteed compensation, as well as aid and social support, highlighted by a 60% refund on the cost of vouchers for recreational and other activities. The bank has used its internal funds to help finance staff housing in co-operation with the Turkmenistan government. Staff are granted a 50% discount on housing costs and long-term mortgages. The bank enhanced its IT platform based on the Altyn Ulgamy computerised system that is integrated in the country’s central banking system, as well as Swift and Visa. The bank has adopted the Reuters Dealing 2000 information and trading system for operating in the international financial markets, thus ensuring flexibility in responding to world market conditions and raising the efficiency of transactions.
