March 30, 2021 in Moscow in Government House of the Russian Federation, at the meeting of the Turkmen-Russian Intergovernmental Commission on Economic Cooperation TRANSKAPITALBANK and State Bank for Foreign Economic Affairs of Turkmenistan signed Agreement on cooperation.
The document was signed from the side of
TRANSKAPITALBANK – by Chairman of the Management Board Mr. Evgeni Ivanovski,
Turkmenvnesheconombank – by Chairman of the Management Board Mr. Rahimberdy Jepbarov.
Agreement on cooperation aims to strengthen the long-term partnership of the parties and outline the prospects and directions of its development.
TRANSKAPITALBANK and Turkmenvnesheconombank established correspondent relations in 2016. In June 2020 TKB opened USD account with Turkmenvnesheconombank for USD settlements with Turkmen banks. Thanks to USD settlement HUB in Turkmenistan, in 2020 in favor of Turkmen exporters, on behalf of TKB clients (VOSTRO banks and companies), export earnings in the amount of more than 120 million US dollars were transferred.
These funds were received by the beneficiaries without involvement of US correspondent banks, which allowed to make settlements fast, smoothly and seamlessly.