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Approved as the Chairman of the Central bank of Turkmenistan of October 17, 1995 No. 330

Procedure for conducting cash transactions in the national economy of Turkmenistan

I. General provisions

1. All companies and the organizations, irrespective of their form of business of property (in dalneyshempredpriyatiya), shall store the money, including foreign currency, in organizations of commercial banks (in dalneyshembanok).

2. Calculations of the Companies for the obligations with another the companies are made, as a rule, via bank transfer through organizations of Banks.

3. The cash received by the Companies from organizations of banks is spent for those purposes on which they are received.

4. The companies can have in the cash desk cash within limit of remaining balance of cash in cash desk and use them from revenue within regulations. Limits of remaining balance of cash in cash desks and regulations of use of revenue are established by organizations of Banks in coordination with heads of these companies.

If necessary the specified limits and regulations can be reviewed.

Limits in departments and branches of Savings bank of Turkmenistan are established by velayatsky management of Savings bank of Turkmenistan and reported to velayatsky management of the Central bank of Turkmenistan.

5. Can be spent by the companies having permanent cash revenue (retail trade, public catering, consumer services) cash from revenue for compensation, pension payment and benefits within the approved regulations, buying up of glassware at the population.

The companies performing expenditure of money from revenue have no right to detain in the cash desks cash for compensation and on other purposes before payment due dates.

6. All cash liquidity over the set limits of remaining balance of cash in cash desk. The companies shall hand over for transfer into accounts according to the procedure and in the terms coordinated with organization of Bank for the purpose of acceleration of turnover of money and timely receipt them in cash desks of Bank.

Cash can be handed over:

a) in day and evening cash desks of organizations of Banks;

b) to collectors for the subsequent delivery in organizations of Banks;

c) in the joint cash desks under the companies for the subsequent delivery in organizations of Banks;

d) to telecommunications agencies for transfer to accounts in organizations of Banks.

7. The companies have the right to store in the cash desks cash over the limits set by it only for compensation, awards, allowance payment on social insurance, grants, pensions and only for the term of not over 3 working days for country associations, and also the companies located in hard to reach areas - to 5 working days), including day of receipt of money in organization of Bank.

8. The companies issue cash on receipt on operating and household expenses in sizes and for the terms determined by the companies in coordination with the organization of Bank performing their cash servicing.

Cash disbursement of money on receipt for official journeys is made within the amounts which are due to the sent persons on these purposes according to the procedure operating in the territory of Turkmenistan.

The unspent cash issued on receipt shall be returned in cash desk of the company no later than 3 days after the term for which they were issued.

Persons who received cash on receipt shall show the report on the spent amounts of accounts department of the company.

Cash disbursement of money is on receipt made on condition of the complete report on earlier issued amounts.

9. Cash transactions are drawn up by documents which standard interdepartmental forms affirm Goskomstat of Turkmenistan in coordination with the Central Bank of Turkmenistan and the Ministry of Economics and finance of Turkmenistan and shall be applied without change at all companies irrespective of their departmental subordination and patterns of ownership.

II. Procedure for receiving and delivery of cash and execution of cash documents

10. In case of acceptance of cash tickets and coins in payments cashiers of the Companies shall be guided by signs and procedure for determination of solvency of bank notes (appendix No. 1).


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