Extension of non-cash settlements for national economy development

On May, 19th, 2017 in the Tax Committee under the Government of the Republic of Tajikistan within the frame of activity of Joint Working Group on realisation of the Resolution of the Government of the Republic of Tajikistan dd. December 31, 2014 №815 “On measures for extension of non-cash settlements using bank payment cards” extended working session with participation of representatives of the National bank of Tajikistan, credit institutions and local businessmen has taken place.

Mr. Hamidullo Mashrabzoda, Deputy Chairman of the National Bank of Tajikistan and Ms. Lola Safarzoda, Deputy Chairman of the Tax Committee under the Government of the Republic of Tajikistan have acted at the beginning of meeting. During the performance Mr. Hamidullo Mashrabzoda, Deputy Chairman of the National Bank of Tajikistan has provided details on objectives and targets of the Resolution of the Government of the Republic of Tajikistan №815 “On measures of expansion of non-cash settlements using bank payment cards” to representatives of credit institution and individual entrepreneurs. Also he has informed on a current situation in the payment cards market in the country, process of performance of given Resolution and activities of Joint Working Group, especially having noted importance of realisation of non-cash settlements as a major factor of cash flow transparency in financial system of the country.

Then, presentation on “POS-terminals benefit for businessmen”, prepared by experts of the National Bank of Tajikistan has taken place. Ways of POS-terminals application, types, ways of payment cards use in the conditions of present market, advantages non-cash settlements exploitation in trading centers and centers of service provision, attraction of new clients and increase of trade turnover with use of non-cash settlements and extension of service rendering by increase in non-cash operations have been pointed out in presentation materials. During presentation also it has been noted that the total amount of payment cards for 4 months of 2017 (January - April) in comparison with the similar period of 2016 has increased by 8,1 %, the volume of operations by means of payment cards for this period has increased by 9,8 %. Also the list of the credit organisations have been presented to private businessmen, engaged in emission and service of payment cards.

Substantive discussion has taken place during session and Mr. Hamidullo Mashrabzoda, Deputy Chairman of the National Bank of Tajikistan, Mr. Sh. Salohiddinov, Head of Payment Systems Management, Mr. S. Abdulloev, Head Deputy of Tax Inspection Management of the Tax Committee and representatives of credit institutions have provided full and complete answers to businessmen questions concerning conditions of installation of POS - terminals, realisation of non-cash settlements, requirement on the commission and tax payments, introduction of privileges and so on. The detailed information on advantages of use of electronic terminals at calculations and use of payment cards has been given to businessmen during discussion.

In the end of extended working session with participation of representatives of the National bank of Tajikistan, the Tax Committee under the Government of the Republic of Tajikistan, credit institutions and local businessmen it was accepted a decision on placement of the Resolution №815 “On measures for extension of non-cash settlements using bank payment cards”, list of credit institutions and supplemental information in the form of “questions and answers” in the websites of the National bank of Tajikistan and the Tax Committee under the Government of the Republic of Tajikistan. Also it has been proposed by the Tax Committee that all credit institutions engaged in emission and service of payment cards should place on their sites the detailed information concerning requirements (conditions) of installation POS - terminals in the commercial and service enterprises.

It should be noted that the Joint Working group on realisation of the Resolution of the Government of the Republic of Tajikistan “On measures for extension of non-cash settlements using bank payment cards” dd. December 31, 2014, №815 in cooperation with the National bank of Tajikistan and the Tax Committee under the Government of the Republic of Tajikistan was established on March 31, 2017. From the beginning of Joint Working Group activity inspections were spent in 573 commercial and service enterprises and electronic POS - terminals were established in 64 of them. Explanatory works on importance and advantages of electronic POS-terminals use were spent with owners and employees of commercial and service enterprises, not equipped with POS -terminals. Notification on installation POS-terminals within 25 days have been directed to 509 commercial and service enterprises by the Tax Committee and administrative measures have been applied to 4 legal entities and individual entrepreneurs for refusal in establishment of electronic terminals and use of payment cards at settlements.

As a result of performance of explanatory work, 812 businessmen have applied to credit institutions with Applications for installation POS-terminals in commercial and service enterprises, and currently credit institutions spend energetic efforts on installation of electronic terminals in commercial and service enterprises.

Press Division
NBT