On January 8, 2025, an enlarged meeting was held under the leadership of Firdavs Tolibzoda, Chairman of the National Bank of Tajikistan. Participants included Firuz Sharifzoda, First Deputy Chairman, Sirojiddin Ikromi and Gulbahor Naziri, Deputy Chairmen, heads of credit financial organizations, the Association of Banks of Tajikistan, the Association of Microfinance Organizations of Tajikistan, the Deposit Insurance Fund of Tajikistan, insurance organizations, and credit bureaus. The meeting aimed to summarize the financial system's activity in 2024 and set objectives for 2025.

At first the Chairman of the National Bank of Tajikistan expressed gratitude to the Leader of the Nation, President of the Republic of Tajikistan, Honorable Emomali Rahmon, for his continued support for the development of the banking and insurance system. He noted that the National Bank of Tajikistan carried out its activities in 2024 in accordance with sectoral legislation and tasks arising from the President's Address "On the main dimensions of domestic and foreign policy of the Republic of Tajikistan," as well as on the basis of the "Projection of Monetary Policy for the Republic of Tajikistan for 2024 and the medium-term period.

Firdavs Tolibzoda, citing statistical data, noted that the National Bank of Tajikistan has taken all necessary measures to implement monetary policy and ensure the stability of the banking system in cooperation with other relevant institutions. The bank continues to reform the banking sector to enhance the country's socio-economic development.

Then, the heads of the structural divisions of the National Bank of Tajikistan (Abdulloev Z.H., Director of Banking Supervision Department, Qurbonalieva N.M, Head of Financial Stability Management,
Boyakov Z.Gh., Director of International Reserves Management and Exchange Rate Policy Department, Mirzoaliev H.S., Director of Financial Monitoring Department, Salohiddinov Sh.K., Director of Payment System Department, Ghaniev D.B., Director of Information Technology Department and Murodaliev D.U., Director of Consumer Rights Protection of Financial Service Department) made a presentation on the state of the banking system in 2024, ensuring financial stability, implementing monetary policy, activities of credit financial institutions in the field of financial monitoring, implementing effective payment system policies, cyber threats and financial stability, as well as evaluating banking system services.

When discussing issues, representatives of financial credit institutions provided specific answers regarding their activities, existing problems, and measures to strengthen the capital base, improve banking service quality, enhance risk management systems, reduce the share of non-performing loans, upgrade employee qualifications, increase profitable assets, ensure information security, and implement NBT directives in a timely manner. They also addressed the need for increased lending across various economic sectors.

It was noted that according to the main indicators, the state of the banking and insurance system is improving in 2024, and the scope of their services is expanding. But despite this, for the sustainable functioning of the banking system and the promotion of the national economy, credit financial institutions need to timely implement the National Financial Inclusion Strategy of the Republic of Tajikistan for 2022-2026, Development Strategy of credit institutions for 2022-2026, fully implement the digital system of banking and insurance services in all regions of the country and widely use financial technologies, increase the level of and the quality of banking and insurance services, to ensure gender equality, strengthen the internal control and risk management system, reduce the share of passive loans in the loan portfolio, take measures to strengthen the capital base and attract more investments, especially long-term ones, increase the knowledge and professionalism of employees, increase the share of profitable assets, strengthen cyber risk management and ensure information security, transparency of the activities of credit and insurance organizations, continue implementation of the Law of the Republic of Tajikistan “On amnesty in connection with legalization of assets and money of the citizen of the Republic of Tajikistan”, eliminate the flaws to determine currency rate and strong control of currency operations, implement the Decree of the President of the Republic of Tajikistan “On measures to strengthen non-cash payments” and take all necessary measures to implement instructions set out in the next Address of the Head of State in the direction of digitalization and full transition to non-cash payments in the field of budgetary and public services in 2025.

In conclusion, Chairman of the National Bank of Tajikistan Firdavs Tolibzoda once again expressed the sincere gratitude of the country's banking and insurance systems employees to Emomali Rahmon, President of the Republic of Tajikistan for his constant support of the financial system, contributing to the sustainable development of the country's economy. He called on the participants to contribute to the sustainable development of our beloved homeland’s economy.

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08.01.2025