RESOLUTION OF THE PRESIDENT OF TURKMENISTAN

of December 22, 2000 No. 4998

About enhancement of settlement payment system of Turkmenistan

For the purpose of further development of settlement payment system of Turkmenistan and decrease in mutual non-payments I decide:

1. Enter new procedure of settlement payment transactions through special bank accounts.

2. Approve Regulations on settlement payment transactions through special bank accounts it (is applied).

3. To the Ministry of Economics and finance of Turkmenistan to suspend issue of treasurer bills of exchange.

To return to the ministries, departments, the companies, the organizations and organizations till March 1, 2001 the treasurer bills of exchange which are in circulation in repayment of tax payments in the budget.

4. To Central Bank of Turkmenistan and other banks of Turkmenistan to perform operations on expenses of budget consumers through special bank accounts with opening of credit line of the Central bank of Turkmenistan within the approved central government budget deficit of Turkmenistan for the corresponding year with breakdown on quarters.

5. To impose control over the implementation of this resolution on Vice-chairmen of the Cabinet of Ministers of Turkmenistan vol. of Begmyradov O. and Kandymov S.

Approved by the resolution of the President of Turkmenistan of December 22, 2000 No. 4998

Regulations on settlement payment transactions through special bank accounts

1. This Provision is developed according to the legislation of Turkmenistan and determines procedure of settlement payment transactions through special bank accounts with appendix of settlement documents.

2. The Ministry of Economics and finance of Turkmenistan quarterly determines limit of turnover of settlement payment transactions when financing expenses of budget consumers within the assignments provided in the Government budget of Turkmenistan, and the approved budget deficit for quarter.

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