Results of banking system activity for the first half of 2017

Results of banking system activity for the first half of 2017 and tasks for the second half of 2017 have been considered at the extended meeting of NBT Management with participation of heads of the credit organisations of the country on July 28, 2017.

At the beginning of the meeting Mr. Jamshed Nurmahmadzoda, Chairman of the National Bank of Tajikistan has noted that despite a difficult situation and external factors pressure, macroeconomic indicators of economic sector of republic are estimated positively.

- The National Bank of Tajikistan during this period has directed its activity on realisation of a monetary policy, preservation of a stable price level, stable growth of money supply in economy and maintenance of financial stability of banking system, - has told Mr. Jamshed Nurmahmadzoda.

During the meeting the NBT Chairman has reminded on instructions and commissions made at the next session of the Government of Tajikistan in the field of development of the credit policy of banking system of the country, especially to availability of banking services in the remote mountain regions, clearing settlements development, elimination of lacks and prevention of law infringement by employees of the credit institutions, and other issues of banking system concerning supervision strengthening.

Then Mr. Sirojiddin Ikromi, Deputy Chairman of the National Bank of Tajikistan made a report on the basic issue of the agenda – “Results of banking system activity for the first half of 2017 and tasks for the second half of 2017”. During the report Mr. Sirojiddin Ikromi, Deputy Chairman of the National Bank of Tajikistan has particularly drew attention on the issues connected with actual situation of banking system of the country, including, issues of macroeconomic indicators, a monetary policy, banking and payment system indicators, and also risks and existing lacks, action taken and future tasks in this direction.

Deputy Chairman of the National Bank of Tajikistan has drawn attention of heads of the credit institutions to inadequate corporate governance, inefficient control by administration of credit institutions, increase in number of offences, imperfection of Assets and Liabilities Management System, indistinct observance of crediting rules, that is extension of credits without performance of proper analysis, non-observance of NBT regulatory legal acts requirements, granting of doubtful reports, low share of non-cash operations, wrong placement of personnel, etc.

Mr. S. Ikromi also has noted that for decrease of economy dollarization level, increase of population trust to banking system, increases in deposits in national currency, prevention of risk of liquidity and establishment of corresponding Assets and Liabilities Management in institutions, NBT has developed a number of measures on liquidity criteria, legal reserve requirements and is planning to application of some amendments to the Law of the Republic of Tajikistan “On insurance of deposits of individuals”.

At the meeting Mr. Behzod Rasulov, Head of NBT Legal Division also has acted regarding the letter of General Prosecutor of the Republic of Tajikistan on infringements committed by employees of credit institutions.

During discussions heads of commercial banks have expressed opinions on existing problems and offered number of constructive ideas for economic development.

At the end of the extended meeting Mr. Jamshed Nurmahmadzoda, Chairman of the National Bank of Tajikistan has given concrete commissions to heads of credit institutions for adoption of measures on building of population trust to banking system, including rendering of qualitative bank services in the remote regions of the country, maintenance of protection of financial structures consumers rights, realisation of activities according to specified rules in the centers of bank servicing, provision of credit institutions with cash, withdrawal of shabby money from circulation and appropriate organisation of corporate governance. Also NBT management assigned tasks to credit institutions of the country for the second half of 2017, including on use of various ways of attraction of cheap and long-term credit resources, adoption of measures on increase of population trust to banking system, improvement of crediting culture, and consideration of credit policy and management of risks, strengthening of internal audit activity and internal control system, improvement of quality of provision of services and introduction of new banking products, extension of clearing settlements share, perfection of the automated banking system for maintenance of transparency of credit institutions activities and increase crediting in the remote regions of the country.

Press Division
NBT