RESOLUTION OF THE PRESIDENT OF TURKMENISTAN

of June 19, 2000 No. 4726

About approval of the Charter of the National commercial bank of Turkmenistan by "Turkmenbashi"

According to the resolution of the President of Turkmenistan of January 21, 2000 "About renaming of the National commercial bank of Turkmenistan Investbank I decide No. 4654:

1. Approve the Charter of the National commercial bank of Turkmenistan "Turkmenbashi" (is applied).

2. To Central Bank of Turkmenistan to register the Charter of the National commercial bank of Turkmenistan "Turkmenbashi" according to the current legislation of Turkmenistan.

3. Declare invalid the paragraph third Item 1 of the resolution of the President of Turkmenistan of January 29, 1999 No. 4054 "About approval of Charters of the National commercial banks of Turmenistan".

Approved by the Resolution of the President of Turkmenistan of June 19, 2000, No. 4726

Charter of the National commercial bank of Turkmenistan "TURKMENBASHI"

GENERAL PROVISIONS

1. The national commercial bank of Turkmenistan of "TURKMENBASHI" (the hereinafter referred to as Bank) is included into single bank system of Turkmenistan and Investbank is legal successor of all rights, obligations and obligations of the National commercial bank of Turkmenistan.

2. The bank pursues policy of the state in the field of financing of the industry and industrial infrastructure and will organize the main activities on commercial basis.

3. The bank is independent of executive and administrative organs of the government and management in case of adoption of the decisions connected with the current banking activity by it.

4. The bank in the activities is guided by the Constitution of Turkmenistan, the laws of Turkmenistan, acts of the President of Turkmenistan, decisions of the Cabinet of Ministers of Turkmenistan, regulations of the Central bank of Turkmenistan and this Charter.

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