DECLARATION FORUM "TOWARDS A СASHLESS ECONOMY"

DECLARATION
FORUM "TOWARDS A СASHLESS ECONOMY" HELD BY THE NATIONAL BANK OF TAJIKISTAN
DECEMBER 8, 2017

The development of cashless payments promotes transparency of Tajik economy and its growth. This was announced at the Forum "On the way to cashless economy" held on December 8, 2017 in the National Bank of Tajikistan by experts - government officials, financial community and analysts.

Participants of the Forum have discussed the role of cashless payments in the processes of economic development in Tajikistan. According to their unanimous opinion, this type of settlements not only increases the transparency of economy but also positively affects the investment attractiveness of regions and the situation as a whole, allows strengthening control over financial flows, reduces the volume of shadow money turnover and increases the availability of financial services for the population. As experts noted, thanks to modern information technology, the level of non-cash payments in developed countries over the past decade has grown to 80% of the payment turnover. In Tajikistan, the level of non-cash payments also shows a good dynamics of growth in the turnover of funds flowing through the banking system.

Following the discussion, the Forum participants named the main measures and ways of development of non-cash payments. These includes improvement of regulatory framework, creation of necessary infrastructure to improve the accessibility of financial services, ensuring security of electronic and digital payment services and countering cyber fraud, increasing financial literacy in payment services and innovative technologies.

The participants have noted the importance of the Forum held on this topic and expressed their wishes about the need to hold such event on an annual basis.

Participants of the Forum " On the way to cashless economy " have approved the following provisions:

• To hold the Forum on Development of Payment Services and Payment Systems in the National Bank of Tajikistan on an annual basis;
• To ensure the availability of financial services and products for all population groups through the development of payment services infrastructure and introduction of innovative technologies as well as the interaction of public and private sectors, financial and retail markets;
• To increase the level of financial literacy of population in field of payment services and innovative technologies through the use of information resources and technologies (Internet portal, video lectures, audio, text information, etc.), to increase confidence and ensure of banking, microfinance and payment services consumer rights protection.

The Declaration was approved by participants of the Forum " On the way to cashless economy"

Dushanbe, December 8, 2017