The procedure for cashing out entrepreneurs’ funds have been changed
The Central Bank of Turkmenistan amended the 14th section of the procedure “On giving out cash or their transfer to the accounts of physical persons, received in the cashless form to the bank accounts of entrepreneurs in authorized credit organizations”. The changes concern only the national currency.
According to the adopted amendments, private entrepreneurs are allowed to:
• withdraw for business purposes up to 75% of cash per month from the amount deposited in cash to bank accounts;
• withdraw for business purposes up to 50% of cash per month from non-cash funds received from the entrepreneur’s POS payment terminals.
• withdraw for business purposes up to 70% of cash funds in his/her servicing Bank per month from received non-cash payments made in cash by the entrepreneur (buyer) in his/her servicing Bank on the basis of the purchase and sale agreement.