Meeting of Jamoliddin Nuraliev with representatives of the People’s Bank of China

On July 31, 2018 the meeting of First Deputy Chairman of NBT Jamoliddin Nuraliev with representatives of People’s Bank of China (PBC), led by Mr. Guo Jianwei, Chairman of Xinjiang branch of PBC has taken place in the National Bank of Tajikistan.

In the beginning of meeting Jamoliddin Nuraliev has acquainted Mr. Guo Jianwei, Chairman of Xinjiang branch of PBC and his accompanying persons with current situation of banking system, innovations and reforms of the National Bank of Tajikistan with the view of promotion of country’s banking system.

During the meeting parties have discussed some important issues, including, cooperation development prospects of the National Bank of Tajikistan and People’s Bank of China, close cooperation between commercial banks of two countries, performance of SWAP-operations using national currencies, etc.

It has been noted that between some credit institutions of two countries the cooperation is already established, and in 2010-2018 the Chinese banks (Development Bank of China, Agricultural Bank of China and China Merchants Bank CO.LTD) have provided over USD 350 million to Tajik banks and nonfinancial institutions of Tajikistan, thus 60 % out of this amount have proceed during last three years.

Therefore, for strengthening of cooperation between banks of two countries Jamoliddin Nuraliev, First Deputy Chairman of NBT has suggested to open correspondent accounts of commercial banks of Tajikistan in commercial banks of the People’s Republic of China. As he said it is necessary for maintaining SWAP operations between commercial banks, and it may facilitate economic development of both countries.

“Also, arrangement of mutual cooperation, realization of necessary infrastructure in People’s Republic of China, including setting-up representations of the Tajik commercial banks in Xinjiang or in other regions of China is important step for strengthening of cooperation of the parties. Establishment of representation makes possible to analyze the interbank market and thereupon maintain SWAP operation, and also to regulate currencies relations of two countries” - has noted Jamoliddin Nuraliev.

The Chairman of Xinjiang branch of PBC Mr. Guo Jianwei has welcomed Jamoliddin Nuraliev’s offer and therefore said that credit institutions of both countries may establish mutually advantageous cooperation, the National Bank of Tajikistan and People’s Bank of China as regulators could manage their activity. It has been underlined that establishment of cooperation in the given direction has no restrictions and obstacles existing from the People’s Republic of China and People’s Bank of China.

Heads of some banks, including, SSB of RT “Amonatbank”, OJSC “Oriyonbank”, CJSC “Spitamen Bank”, OJSC “Sohibkorbank” and CJSC “International Bank of Tajikistan” have participated in the meeting, which had possibility for dialogue and exchange of opinions concerning bilateral cooperation.

It is necessary to note that Mr. Guo Jianwei, Chairman of Xinjiang branch of PBOC was accompanied by Mr. Huan Zhijian, Deputy Director of Financial Research Department in the meeting.

It should be reminded that during working visit of the Chairman of the People’s Bank of China, Mr. Zhou Xiaochuan in Dushanbe, on September 2-4, 2015, the SWAP agreement between NBT and PBOC has been signed.

Press Division of NBT