of July 14, 2007 No. 8837
About streamlining of some foreign currency transactions in the territory of Turkmenistan
For the purpose of streamlining of some foreign currency transactions in the territory of Turkmenistan I decide:
1. Approve the enclosed Procedure for exchange of national currency of authorized banks on foreign currency for payment of traveling expenses in case of departure out of limits of Turkmenistan.
2. Permit to make in coordination with the Central bank of Turkmenistan exchange of manatny funds for foreign currency for compensation of the documented target and additional expenses connected with official journeys of workers out of limits of Turkmenistan according to the enclosed list according to the Procedure approved by this resolution.
3. Declare invalid the Section I of the Instruction on procedure for carrying out some foreign currency transactions by banks in the territory of Turkmenistan approved by the resolution of the President of Turkmenistan from 7 Turkmenbashi of 2002 No. 5490 "About measures for streamlining of transactions with foreign currency in the territory of Turkmenistan" (Collection of acts of the President of Turkmenistan and decisions of the Government of Turkmenistan, 2002, No. 1, the Art. 6).
4. To impose control over the implementation of this resolution on Vice-chairmen of the Cabinet of Ministers of Turkmenistan and the Chairman of the board of the Central bank of Turkmenistan Abilov G.
President of Turkmenistan
Approved by the resolution of the President of Turkmenistan of July 14, 2007, No. 8837
This Procedure is developed according to the laws and other regulatory legal acts of Turkmenistan and establishes the procedure of exchange of national currency for foreign currency to legal entities for payment of traveling expenses in case of departure out of limits of Turkmenistan.
1. Exchange of national currency for foreign currency for payment of traveling expenses in case of departure out of limits of Turkmenistan is performed through authorized banks to the following categories of legal resident persons of Turkmenistan (organizations hereinafter are referred to as further):
a) to state governing bodies, ministries, departments, state companies, organizations and organizations, local authorities of the government and self-government;
b) to public organizations and associations, including national cultural, sports, educational centers and federations.
2. Organizations in the absence of the currency account or insufficiency of means on the currency account can exchange for payment of traveling expenses through authorized bank the available funds in national currency for foreign currency.
3. The authorized bank exchanges to organizations national currency on foreign currency for payment of traveling expenses based on the following documents:
certificates of the serving bank of availability/lack of means on the currency account in the presence of that or the extract from the Unified State Register of Legal Entities in case of lack of the currency account at organization;
the order (the statement from the order) or the business trip order of organization about official journey out of limits of Turkmenistan in which the following details are specified: surname, name, middle name of the sent person, expected date of departure in business trip and date of return from it or the planned sending term, the country of sending;
expense budgets of the sent person leaving Turkmenistan which shall be constituted by organization, proceeding from the regulations of expense recovery established by regulatory legal acts of Turkmenistan;
4. The foreign currency received and unused organization in case of cancelled official journey out of limits of Turkmenistan, returns organization to authorized bank within 5 working days of date of the assumed departure of the sent person for the return exchange and return of means in national currency.
5. Upon termination of official journey out of limits of Turkmenistan, but no later than 30 working days of date of return of the sent person, the organization submits the report on the established form in authorized bank (appendix No. 1).
6. If the official journey out of limits of Turkmenistan is postponed for the term which is not exceeding the term of submission of the report, and the advance amount on traveling expenses does not exceed the amount of the received foreign currency, the organization represents the new order or the business trip order to authorized bank. At the same time date of submission of the report is calculated the serving bank of the expected date of return of the sent person specified in the new document.
7. In case of incomplete use by the sent person of the advance in foreign currency received for payment of traveling expenses, unspent currency means return organization to authorized bank for the return exchange and return of means in national currency.
8. In case of over-expenditure of means for repayment of the formed debt to the sent person the organization in addition submits in authorized bank the expense report the sent persons and the substantiating vouchers confirming it expenses outside Turkmenistan.
9. Return unused or issue of excessively spent foreign currency shall perform authorized bank only after receipt of the report of organization.
If the report is not submitted by organization at the scheduled time according to Item 5 of this Procedure, the authorized bank stops the subsequent transactions on exchange of national currency for foreign currency to this organization before submission of the report.
10. Authorized banks on exchange of national currency for foreign currency for payment of traveling expenses in case of departure out of limits of Turkmenistan are head departments of commercial banks in which departments and branches accounts (settlement, current, etc.) organizations in manats are served.
11. Exchange of manatny funds for foreign currency for the purposes provided by this Procedure is made on the official rate established by the Central bank of Turkmenistan for date of making of exchange transaction taking into account the amounts of the commissions of banks.
12. The organization and physical persons without fail represent originals and copies of all necessary documents specified in this Procedure to authorized bank. Originals of documents return to clients with mark of authorized bank about date of acceptance of their copies then the bank makes exchange of manatny funds for the required amount of foreign currency.
13. In case of exchange of national currency on cash foreign and/or foreign currency on cash national the authorized bank issues to the receiver of means the certificate of the made exchange (appendix No. 2) which is the document confirming origin of the received means.
14. Authorized banks monthly submit the report on the made exchange of national currency for foreign currency on the form established by the Central bank of Turkmenistan.
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