Professional literacy and realisation of Islamic financing principles Programme

On May 16, 2017 the first training seminar on “Microfinancing according to Islamic financing principles” has been spent for senior executives of credit institutions of the country in the National Bank of Tajikistan. The given seminar is held in framework of realisation of “Vocational Literacy Program and realisation of Islamic financing Principles (VOLIP) in Tajikistan”.

During opening of this event which has taken place with participation of Mr. Sirojiddin Ikromi, Deputy Chairman of the National Bank of Tajikistan, Mr. Fathiddin Usmonzoda, Deputy Minister of Education and Science of the Republic of Tajikistan, Dr. Muhammad Zubair, International Adviser (Pakistan) and Mr. Mahmadullo Sheraliev, Executive Director of Project Implementation Unit “On reconstruction and construction of secondary schools”, it has been noted that seminar program was designed at the initiative of the National Bank of Tajikistan and the Ministry of Education and Science of the Republic of Tajikistan with the view of realisation of program of the Government of the Republic of Tajikistan and the Islamic Development Bank on financial support of graduates of short-term vocational courses for the youth and women by trades and held to improve the professional skills and experience of senior executives of credit institutions on performance of financial services according to Islamic financing principles for realisation of VOLIP program.

Including, Mr. Sirojiddin Ikromi, Deputy Chairman of the National Bank of Tajikistan during performance has noted that the aim of realisation of the given project is reduction of public poverty by improvement of professional skills, creations of favorable opportunities for training and trade reception, provision of microfinancing for maintenance of business activity. Also it has been underlined that for maintenance of graduates of trade courses delivery of preferential small credits through credit institutions for arrangement of business activity and self-employment is provided.

Then, Dr. Muhammad Zubair, Head of “Al-Huda” International Consulting Company, Ms. Kibriyo Urokova and Mr. Muslim Berdiev - experts of the National Bank of Tajikistan have presented to audiences reports and presentations relating Islamic financing Principles, Islamic microfinancing and possibilities of their application in Tajikistan, Procedures of Islamic banking system realisation by the National Bank of Tajikistan, Terms of Subcontracts, conditions, requirements and Islamic microfinancing operations within the limits of VOLIP program, and also implementation methods of Murabaha and Saalam operations.

The training phase for representatives of the credit institutions will last and the second phase of training seminar for responsible executive of regional structural divisions of the credit institutions will be organized from May 18 till May, 23rd, 2017. During the given events participants can study theoretical knowledges and issues of practical use of operations on Islamic financing at microcrediting of VOLIP program.

It is necessary to note that the project “Professional literacy Program and realisation of principles of Islamic financing (VOLIP) in Tajikistan» is spent in the framework of the Credit agreement between the Government of the Republic of Tajikistan and Islamic Development Bank signed on January 11, 2013. Realisation of the project is imposed to Project Implementation Unit “On reconstruction and construction of secondary schools” since February 2014. The realisation aim of the given project is poverty alleviation by improvement of professional skills and mastership among youth from 15 to 24 years and women from 24 to 49 years through vocational training and financial support for maintenance of employment and profit taking.

Press Division
NBT