Scientific and practical seminar at Tajik State University of Commerce

On February 15, 2022, upon the initiative of management of National Bank of Tajikistan a scientific and practical seminar was held titled “Institutional transformation of banking sector of Tajikistan in challenging economic circumstances, rebuilding  confidence ”, at Tajik State University of Commerce. This seminar was organized for teachers and students of this university.

Opening the event, the Rector of Tajik State University of Commerce, Qurbonzoda Mahmadali, noted that organizing scientific and practical seminars on the said topic is a timely step that will undoubtedly contribute to enriching knowledge and acquiring skills, developing financial thinking and expanding economic horizons of students.

Deputy Chairman of the National Bank of Tajikistan Mohbonu Nakhatzoda, on behalf of the management of the National Bank of Tajikistan, expressed gratitude to the management of Tajik State University of Commerce for the warm welcome and creating good conditions for holding the scientific and practical seminar. It was noted that organization of such trainings in the current financial and economic conditions is extremely important, because this seminars can stimulate motivational and thought processes, help students to obtain scientific knowledge, improve the level of financial education of students and youth, providing powerful impetus to increase their interest in obtaining knowledge and the formation of research abilities.

At the beginning of the event, Deputy Chairman of the National Bank of Tajikistan Firdavs Tolibzoda spoke about state of the country's banking system. Having drawn the attention of those present to such issues as the real situation of the banking sector and its restructuring, the volume of assets and liabilities, the increase in loan portfolio and reduction in the volume of non-performing loans, storage and management of international reserves, payment system and payment infrastructure, non-cash payments and their contribution to economy, over the past six years, Firdavs Tolibzoda noted that as a result of a qualitative improvement in the banking system, main indicators of financial stability remain at a high level compared with indicators of several neighboring countries. It was also mentioned that despite the exclusion of troubled credit organizations from the banking system there is still continued improvement in the banking system.

Afterwards, during the scientific and practical seminar, heads of several departments of the National Bank of Tajikistan made short presentations and introduced some issues on effective implementation of monetary and foreign exchange policies, financial stability, state of information systems, payment system and financial services consumers protection.

In particular, the head of Statistics and Balance of Payments Department Bakhtiyor Bakhriddinov talked about main macroeconomic indicators, Dilovar Ubaydulloev- Director of Monetary Policy, Research and Development Department spoke about implementation of monetary policy of the National Bank of Tajikistan, taking into account inflation targeting, and Farukhruz Mamadaliev, Deputy director of International Reserves Management and Exchange Rate Policy Department talked about implementation of effective exchange rate policy, National Processing Center for Remittances (NPCR), diversification of the structure of international reserves over the past 11 years.

Deputy Chairman of the National Bank of Tajikistan Nakhatzoda Mohbonu spoke about the reform of the banking and payment system, as well as measures taken by the NBT to prevent the impact of COVID-19 pandemic, about the future prospects and policy of the National Bank of Tajikistan.

Furthermore, exchange of views took place among bank employees and participants. Participants received concrete answers to all the questions they had. These issues mainly touched upon problems of banking system, National Strategy for Financial Inclusion, refinancing rate, monetary policy of the NBT, risk management, financial services consumers protection, conditions for organizing competitions for vacant jobs in the National Bank of Tajikistan, etc.

In the final part of the event, the Rector of Tajik State University of Commerce, Qurbonzoda Mahmadali, expressed gratitude for informative presentation. “A comprehensive analysis of banking system by responsible officials of the National Bank of Tajikistan demonstrates practical implementation of wise policy of the Founder of Peace and National Unity -  Leader of the Nation, the President of the Republic of Tajikistan, H.E Mr. Emomali Rahmon in the field of training demanded professionals in the labor market,” has said Mahmadali Qurbonzoda.