Turkmenistan tightens oversight of remittances

By Dzhumaguly Annayev

ASHGABAT -- Turkmen authorities recently imposed more restrictions on the sending and receiving of wired financial remittances, Alternative News of Turkmenistan reported July 10.

The measures took effect at the end of June, a Central Bank of Turkmenistan source told Central Asia Online, adding that they are meant to thwart terror financing and extremist recruiting.

Under the new measures, the sender or recipient of a remittance in Turkmenistan will have to show copies of his or her passport, birth certificate and information on his or her sources of income, as well as documents explaining his or her family relationship to the other individual involved in the remittance.

If the sender or recipient fails to produce such documents and if the amount of the remittance exceeds his or her monthly salary or pension, the transaction will be nullified.

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