World Bank Group’s visit to the National Bank of Tajikistan

On October 2, 2018 Mr. Jamoliddin Nuraliev, First Deputy Chairman of NBT met with representatives of the WBG Project on financial sector stability, led by Mr. Reto Weyermann, Programme Manager of the Swiss State Secretariat for Economic Affairs (SECO) on Central Asia and Azerbaijan, who was on a business visit from October 1 to 3 of the current year in the Republic of Tajikistan. Mr. Hamidullo Mashrabzoda, Ms. Lola Salimova, NBT Chairman Deputies and heads of key departments and Mr. Jan-Peter Olters, Country Manager World Bank Office in Tajikistan, Ms. Demenge Corinne, Deputy Director of Swiss Cooperation Office (RWB) and some WB experts also attended this meeting.

In the beginning of meeting Mr. Jamoliddin Nuraliev, First Deputy Chairman of NBT briefly introduced the WBG delegation with macroeconomic situation and banking system of country, and expressed satisfaction on bilateral fruitful cooperation on the sphere of country’s banking system with the World Bank.

During his speech Jamoliddin Nuraliev also expressed gratitude to the WB for relaiance to the National Bank of Tajikistan as a partner in support of various projects on banking system and technical assistance, supported by SECO and implemented by WB, and also expressed interest for further development of mutually advantageous cooperation. It was noted that with the view of rehabilitation of banking system of country during the last three years the National Bank of Tajikistan has implemented the plenty of reforms, and now realization of WBG Project on stabilization of financial sector with the view of system’s development is considered as important and well-timed. At the same time Jamoliddin Nuraliev expressed a view on different directions of system, including non-performing loans, banking services consumers rights protection, corporative management and financial stability within the frame of realization of “Financial Sector-Stability Project” (SECO), which is planned for 2018-2021. In turn State Secretariat for Economic Affairs (SECO) will invest CHF 2,2 million for realization of the given project.

In turn, Mr. Reto Weyermann, Programme Manager of the Swiss State Secretariat for Economic Affairs (SECO) said that the given project is developed in cooperation of WB with the National Bank of Tajikistan, and currently the Working Plan procedure is discussed and considered in the learning stage. “We hope that this Project will be implemented successfully and on high quality, and be helpful for attraction of more investments to the banking system of Tajikistan in future”, - said Mr. Reto Weyermann.

Then Mr Nurmuhammad Sharipov, Director of NBT Banking Supervision Department, Ms. Rukmina Safarova, Head of Financial Services Consumers Rights Protection Management, Mr Shuhrat Salohiddinov, Head of Payment System Management and Mr. Izatullo Mahmudov, Head of Financial Stability Management for deeper familiarization with present issues of banking system of the country have made presentations on “Regulation mechanisms of problem banks”, “Corporative Management”, “Methods of reducing of problem loans levels”, “Development of control mechanism” and “Implementation of projects in financial stability sector”.

During discussion the Bank Management and heads of structural subdivisions provided full answers on questions of WBG representatives on delivered presentations.

At the end of a meeting in his turn Mr. Reto Weyermann, Programme Manager of the Swiss State Secretariat for Economic Affairs (SECO) has stated: “We trust to the National Bank of Tajikistan as a leader and instructor on provision of financial stability and the aim of this meeting is identification of implementation procedure of the Financial Sector Stability Project together with the National Bank of Tajikistan management.

Press Division
NBT