Turkmenistan Cash Shortage Forces Residents to Pay Middlemen for Their Own Money
Residents of the town of Kaka in Turkmenistan’s Ahal region are facing a shortage of cash. Queues at ATMs stretch for dozens of people, but many residents are unable to withdraw money because the machines quickly run out of banknotes. As a result, some are turning to intermediaries who help them obtain cash for a fee. In recent weeks, an unusual service has become widespread in the town. So-called “cash-out agents” travel directly to customers with a bank terminal, check the balance on their card, and immediately hand over the requested amount in cash. For this service, they charge a commission of 10 manats for every 1,000 manats withdrawn, or roughly 1%. The intermediaries then take the owner’s bank card and withdraw the money themselves to recover the amount they have advanced. According to local residents, these agents likely know of ATMs with few or no queues, such as those located inside government institutions. The card is later returned to the owner. Despite the relatively small commission, residents use the service less for convenience than because of constant difficulties accessing cash. Many prefer paying a middleman to standing in line for several hours, only to find that the ATM is empty. The exact reasons for the current cash shortage remain unclear. So far, Turkmen.news sources have reported such difficulties only in Kaka. However, similar situations are not new in Turkmenistan. In spring 2025, the same problem was reported in the Mary and Lebap regions, while during the economic crisis of 2020-2021, cash was distributed across the country using vouchers. Authorities have regularly tried to ease the consequences of such crises. Measures have included restrictions on cash withdrawals, limits on withdrawal amounts, assigning specific ATMs to employees of particular enterprises, and allowing customers to use only machines linked to their servicing branch. In some cases, ATMs have even been moved to the outskirts of towns to keep long queues out of public view. Turkmenistan has also periodically imported new banknotes, which are printed in Malta. Residents cannot simply switch to cashless payments. Non-cash transactions are often disrupted by frequent internet outages, while the country’s banking system remains underdeveloped. According to sources, customers have reported missing funds, international transfers can take weeks, and foreign currency can be purchased at the official exchange rate only in limited circumstances and in small amounts. Under these conditions, alternative payment methods have become widespread. For domestic transfers, money is often sent to a mobile phone balance, after which it can be converted into cash through intermediaries for a commission. A similar system is also used for transfers from countries with large Turkmen diaspora communities. Money is handed over to intermediaries abroad, while their partners inside Turkmenistan provide recipients with the equivalent amount in manats. Such informal networks complicate oversight of financial flows. They have also emerged in response to the limitations and weak development of the country’s banking system.
