USAID Equips Turkmen Private Bankers With Modern Banking Tools

During the training (Photo: USAID)

Ashgabat, August 01, 2012 – The USAID Macroeconomic Project completed a 6-day workshop for bankers of Turkmenistan’s first private bank named “Rysgal”. The course was organized in partnership with Turkmenistan’s Union of Industrialists and Entrepreneurs and aimed to improve and expand financial services and products available for small and medium enterprises (SME). As a result of the training, the private bankers plan to build effective SME banking and lending process at the “Rysgal” bank.

The seminar was delivered by the USAID international advisor and is designed to develop the SME banking strategy to meet the needs of Turkmenistan’s growing private sector. It covered topics such as the promotion of SME lending products, building and managing effective client relationships, evaluation of business projects, and industry analysis. The “Rysgal” bank a joint-stock company is the first commercial bank in Turkmenistan established by private companies and entrepreneurs. The bank began operations in late 2011 and is focused on SME segment specifically.