The meeting of Mr. Jamoliddin Nuraliev with Mr. John Ginkel, Deputy Chief of Mission of the US Embassy in the Republic of Tajikistan

On November 14, 2019 Mr. Jamoliddin Nuraliev, First Deputy Chairman of the NBT held the meeting with Mr. John Ginkel, Deputy Chief of Mission of the US Embassy in the Republic of Tajikistan, who was newly appointed to this position.

During the meeting Jamoliddin Nuraliev congratulated Mr. John Ginkel on assumption of his duties as Deputy Chief of Mission of the US Embassy in the Republic of Tajikistan, and expressed interest for extension of future cooperation.

During the meeting the Parties exchanged views on bilateral cooperation in the banking system, including possibility of opening of correspondent banking accounts and noted that fostering cooperation contributesto the development of the banking system and the economy in general. In the course of meeting Jamoliddin Nuraliev has expressed commended the high level of cooperation with the Embassy of the US in Tajikistan, including provided technical assistance of the US Government to the National Bank of Tajikistan, that is significant project and its realization in three phases for two years will cover reconstruction of the Core Banking System .

Also Mr. Jamoliddin Nuraliev expressed gratitude to the US Government for attraction of the technical assistance of Financial Services Volunteer Corps and stated that within the framework of the US Embassy support the first phase of technical assistance for development of regulators and private sector capacity in AML/CFT is currently being implemented. At the same time actions are being taken to endorse the second phase of the projectthat includes the measures on improvement of monetary policy, management of international reserves and exchange rate policy, development and implementation of the National Financial Inclusion Strategy and strentherning financial stability. This technical assistance will support the implementation of the National Bank of Tajikistan reforms in the area of financial sector strengthening and increasing the confidence of the population in the banking system, - said Mr. Jamoliddin Nuraliev.

Mr. John Ginkel, Deputy Chief of Mission of the US Embassy in the Republic of Tajikistan noted that the US Government is opened for cooperation in various areas, including AML/CFT, improvement of modern automatization systems in the banking system, and other sectors, as positive environment and improvement of level and quality of services in the banking system will have a positive impact on the economic situation of both countries.

The heads of the National Bank of Tajikistan's departments attended the meeting, and provided information on improvement of monetary policy tools, including transition from quantity regime to inflation targeting, liquidity management, centralization of monetary operations structure, capacity building of forecasting of macroeconomic indicators , development of important areas of financial inclusion, increasing the level of financial literacy of population, improvement of financial reserves management methods and significant reforms in this areas. It was noted that increase in financial inclusion process will support the development of SMEs and access to high quality banking services, growth of the volume of accounts in the system and non-cash operations, increase of money remittances, loans and attraction of deposits.

At the end of the meeting the Parties expressed appreciation for effective cooperation, and readiness for cooperation between banking systems of both countries, including opening of correspondent accounts in USA banks, monetary policy, capacity building of banking specialists, improvement of software of commercial banks and implementation of bankings reforms with attraction of international experts.

Press Division NBT