Ashgabat, August 14-16, 2018: The United Nations Development Program (UNDP) and PwC join efforts to create an innovative development strategy and introduce the digital banking for the State Bank for Foreign Economic Affairs of Turkmenistan (TFEB). For this purpose, PwC and TFEB are developing a draft banking strategy that includes priority areas for the development of the bank in order to maintain the positions of the universal, competitive, largest bank of Turkmenistan, which responses to the highest international banking standards.

As a part of this cooperation, several events will be held to increase the knowledge of TFEB employees in the field of project management and financing, digital banking and IT security, new technologies and others. At the first stage, PwC conducted a three - day training for 25 employees of TFEB, focusing on project management and information security.

“Today, companies are often turning to the use of methods and principles of project management. This is due to the fact that project management helps companies to more effectively develop, plan and implement projects to achieve their goals,” noted Michael Adams, PwC expert.

This training plays a very important role, as it analyses the main aspects of improving the management structure and the implementation of the new technologies in the banking system. Thus, it will lead to the improvement and further integration of the banking system of Turkmenistan into the international financial system. There were also presentation regarding the key points of the implementation process of the project.


After the adaptation of the global Sustainable Development Goals at the UN World Summit in September 2015, Turkmenistan launched the process of their adaptation at the national level.  With the focus on economic diversification, UNDP and TFEB launched a new project "Support in expanding access to International Development Finance”. As a result, they signed Project Document, implementation of which is being done by professional team of PwC, with the aim of improving the State Bank for Foreign Economic Affairs of Turkmenistan.

PWC is one of the leading international consulting companies, and is one of the Big Four auditors. And it is active in more than 158 countries around the world.

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