Meeting of Firdavs Tolibzoda with the mission of Swiss State Secretariat for Economic Affairs (SECO)

On February 3, 2023, the First Deputy Chairman of the National Bank of Tajikistan Tolibzoda Firdavs Nazrimad held a meeting with the Director of the Macroeconomic Program Mr. Reto Weiermann and Malika Ibragimova the Senior Economic Development Officer of SECO in the Republic of Tajikistan. The sides discussed the priority areas of bilateral relations.

Firdavs Tolibzoda gave a brief introduction to the representatives of the Swiss Economic Cooperation Office (SECO) about the achievements of the country's banking system and macroeconomic indicators, and noted that regardless of the influence of external factors, the country's banking system managed to complete 2022 with positive results.

He also expressed satisfaction with the effective cooperation of the National Bank of Tajikistan with the Swiss Office for Economic Cooperation and the management of SECO for providing technical and advisory assistance that contribute to increasing the stability of the financial sector, strengthening the payment system and the protection of the rights of consumers of financial services, as well as improving regulatory acts.

The meeting considered results achieved during the first stage of the program implementation, on strengthening the financial sector, as well as ensuring greater financial stability, effective methods of reducing the number of non-performing loans (NPLs) and their taxation, development of corporate governance, payment systems and protection rights of consumers of payment services.

The Director of the SECO Macroeconomic Program, Mr. Reto Weierman, noted that good results were achieved during the first stage of the implementation of this program.

At the meeting, the parties expressed their views on further actions and deadlines for their implementation, as well as directions for providing technical assistance to strengthen the financial sector in the second stage of the program.

At the end of the meeting, the structural units delivered presentations on the implementation of this program. The presentation provided information on the first stage of the program implementation, strengthening the country's banking system, improving corporate governance and risk management in credit financial institutions, strengthening control over the activities of payment systems, increasing the responsibility of credit financial institutions in providing financial services to consumers of financial services.

The mission of the Swiss Office for Economic Cooperation expressed satisfaction with the implementation of the Program for Strengthening the Financial Sector of Tajikistan, implemented jointly with the World Bank Group and the International Finance Corporation, and expressed SECO’s intention to further continue the effective cooperation with the banking system of the Republic of Tajikistan, especially with the National Bank of Tajikistan.

Press Division
NBT