Meeting with staff of exchange bureaus

During the NBT visiting day for citizens on December 19, current year the First Deputy Chairman of the National Bank of Tajikistan Mr.Jamoliddin Nuraliev has held a meeting with 60 employees of exchange bureaus of credit institutions. For last two weeks it is the second meeting held by the NBT management with employees of exchange bureaus. 

During this meeting parties have led frank and confidential discussion. There were discussed issues related to further activity of exchange bureaus and their employees, reasons and necessity of transition to a new order of foreign exchange operations and increasing quality and culture of modern banking services to population. 

Mr.Jamoliddin Nuraliev in the beginning of the event has acquainted attendees with implementing structural reforms in the National Bank of Tajikistan and banking system of the country, which meets the requirement of time and developed society. It was noted that today in connection with an unstable situation in the world, drops in prices for oil in the world markets, a majority of the world countries, in particular, countries-trading partners of Tajikistan have faced with financial and economic crisis. Certainly, all these problems have made a negative impact also on financial and economic sphere of Tajikistan, having reduced inflow of foreign currency to the republic that has led to instability of internal exchange market and national currency’s exchange rate. 

Other reason of this instability, unfortunately, is connected with activity of some exchange bureaus employees who using a right moment have unreasonably raised the US dollar purchase and sale rates, having carried out informal exchange operations contradicting the requirements of statutory acts and established procedures. 

The given facts have been revealed during the inspections made by joint Working team of the National Bank of Tajikistan, Public prosecutor authorities and Agency on state financial control and fight against corruption carried out only with a view of stabilization of cash exchange market situation of the country. There were convicted more 40 employees of exchange bureaus of Dushanbe city and republican subordination regions in commitment of such illegal actions. 

It has been noticed that currently the National Bank of Tajikistan does not fine the exchange bureaus employees for such offences and fines only banks and microcredit institutions at the rate from TJS 60 to 100 thousand. In turn credit institutions before transition to new system of exchange operations performance to be carried out according to the Instruction No.211 «On procedure of effecting foreign exchange operations» till the end of current year have prematurely stopped activity of exchange bureaus within one day in order to avoid penalties. 

During the meeting attendees have received answers the questions on further activity of exchange bureaus and their employees. There are 124 credit institutions, 432 branches, 1 233 banking services centers and 1 802 money transfer offices operating today in the territory of the republic. According to requirements of Instruction No.211 «On procedure of effecting foreign exchange operations» all foreign currency purchase and sale operations will be carried out further only in cash desks of these establishments by electronic operations uniform system of credit institutions. The transition to such modern banking system is inevitable as it is the requirement of time and it is obligatory to be carried out. 

In this connection it was offered to exchange bureaus employees who have a wide experience of work and did not violate the requirements of banking legislation, to apply the credit institutions for employment as cashiers of operational department of banks. 

Press-service   
NBT

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