Meeting of Hokim Kholiqzoda with Manuel Micaller

On July 21, 2023, the Chairman of the National Bank of Tajikistan Hokim Kholiqzoda met with the Ambassador Extraordinary and Plenipotentiary of the United States of America to the Republic of Tajikistan Manuel Micaller during which the parties discussed the expansion of multilateral relations and providing technical assistance. 

At the beginning, the Chairman of the National Bank of Tajikistan Hokim Kholiqzoda expressed gratitude to the Embassy of the United States of America in the Republic of Tajikistan for mutually beneficial cooperation within the framework of the U.S. Government implemented projects in the fields of economic and social development of the Republic of Tajikistan, in particular, the banking system of the country.

Ambassador Extraordinary and Plenipotentiary of the United States of America to the Republic of Tajikistan Mr. Manuel Micaller, in turn expressed his satisfaction to the Chairman of the National Bank of Tajikistan Mr. Hokim Kholiqzoda for the warm welcome, and noted the need to expand bilateral relations and joint efforts aimed at the development of the banking system and the economy of the Republic of Tajikistan.

Mr. Manuel Micaller stressed that in recent years, the main macroeconomic indicators of the banking system had a trend of significant growth, and the stability of the inflation rate and the exchange rate of the national currency was ensured.

In addition, during our meetings in the regions of the Republic of Tajikistan with representatives of small and medium-sized businesses, particularly women entrepreneurs, we have witnessed that the work on providing access to banking services and obtaining loans for the development of entrepreneurship is properly established.

We are ready to discuss in detail the issues of interest for further cooperation between the parties and I consider our meeting useful and timely," said Manuel Micaller.

At the same time, Khokim Kholikzoda emphasized that, with the assistance of the US Embassy, in recent years the National Bank of Tajikistan has been cooperating with the Volunteer Corps for the development of financial services, as a result of which, during this period, two phases of the technical assistance program of the project “Increasing financial integrity and strengthening financial stability” were implemented and access in Tajikistan." During the implementation of the project, issues of strengthening financial stability, expanding access to financial services, introducing the provisions of International Financial Reporting Standards (IFRS) and assessing the quality of internal audit were resolved, more than 20 training events were held with the participation of employees of the National Bank of Tajikistan and students of higher educational institutions of the country.

During the meeting, it was stressed that so far the work on the implementation of the third phase of technical assistance aimed at improving the monitoring, analysis and evaluation of the main indicators of financial sustainability is still ongoing, which will undoubtedly contribute to the adoption of concrete measures to minimize risks in the financial system.

The National Bank of Tajikistan cooperates closely with the US Department of the Treasury. The best example of mutually beneficial cooperation between the parties is the approval of technical assistance by the US Department of Treasury in 2021 for the development of the insurance sector, providing for the analysis of the country's insurance market, strengthening supervision over insurance institutions, preparing a report for the insurance system and improving the professional level of the employees of the National Bank of Tajikistan.

Chairman of the National Bank of Tajikistan Hokim Kholiqzoda expressed his hope that cooperation with the U.S. Embassy will continue in such important and necessary for the NBT areas as providing technical and advisory assistance to maintain the stability of the monetary and financial sectors, strengthening the macroprudential policy framework and systemic risk assessment, further strengthening the mechanisms of regulation and supervision of credit financial institutions, information security, combating cyber threats, development of the securities market and the development of the securities market.

In addition, the National Bank of Tajikistan pays special attention to the development of interbank relations between the two countries.

It was noted that in connection with bilateral consultations in the fall of this year, the U.S. Embassy would contribute to the inclusion of the issue of development of correspondent relations between the banking systems of the U.S. and Tajikistan in the agenda of these consultations.

At the end of the meeting, the parties expressed readiness to continue mutually beneficial cooperation and open constructive dialogue.

Press Division