Working Meeting of the NBT Deputy Chairman in Headquarters of “MasterCard” International Payment Systems

On May 22-26, 2017, Mr. Sirojiddin Ikromi, Deputy Chairman the National Bank of Tajikistan has participated in the Working Meeting, which was held in Headquarters of “MasterCard” International Payment Systems in New York, USA.

In the course of the Working Meeting Mr. Sirojiddin Ikromi and Mr. Alfred Kibe, “MasterCard” Corporate Treasurer have signed Settlement Service Agreement on rendering settlement services by “MasterCard” International Payment Systems’ Cards in the Republic of Tajikistan in national currency.

Cooperation with “MasterCard” Company will facilitate realization of Regulation of the Governmental of the Republic of Tajikistan dd. December 31, 2014, №815 “On measures of extension of clearing settlements with use of bank payment cards”, development of payment cards market and reduction of share of settlement in cash.

The beginning of implementation of the specified project is planned from August, 2017 that is the important stage of development of the clearing settlements market throughout the Republic of Tajikistan. The national settlements system on operations with bank cards will provide possibility for banks to introduce new innovative products and improve quality and security of offered products.

Settlement operations at purchase and sale of goods and services with use of “MasterCard” cards will be made in national currency in Tajikistan. The National Bank of Tajikistan will fulfill clearing bank function in the given project.

It should be noted that conducting of operations through national settlements system is possible if an issuing bank, acquirer bank and commercial and service enterprise are located in the Republic of Tajikistan, and currency of transactions is the national currency (somoni).

Implementation of the given project will increase share of transactions with use of payment cards in commercial and service enterprises, and also share of clearing settlements in the general money turnover that will promote economy transparency.

At present two credit institutions of the republic are members of “MasterCard” International Payment Systems and quantity of cards of the given system makes more than 35, 8 thousand or 2,13 % out of total of outstanding bank payment cards.

Press Division
NBT