29.11.2007

Meeting in the National Bank of Tajikistan

On November 29, this year the meeting took place in National Bank of Tajikistan with participation of representatives of the Executive Office of the President of the Republic of Tajikistan, Ministry of Finance, Ministry of Agriculture and Nature Protection, heads of commercial banks of the republic during which it was discussed the extension of credits by banks to dehkan farms and preparation for the forthcoming meeting of the President of the Republic of Tajikistan E. Rahmon with entrepreneurs.

The Chairman of the National Bank of Tajikistan M. Аlimardon, opening the meeting has noted that extension of credits by banks to dehkan farms is actual and important issue especially in the current situation when the prices for foodstuffs promptly raise all over the world.

The purpose of our meeting today, - has noted M. Alimardon, is to define together with the Ministry of Finance, Ministry of Economic Development and Trade, Ministry of Agriculture and Nature Protection, the more perfect forms of credits extension and their repayment. It is necessary to direct efforts to simplify considerably and make as much as possible an understanding of documentation to be prepared by dehkan farms for credits receiving. To solve this problem it was offered to create the working team from representatives of the National Bank of Tajikistan, commercial banks and the above mentioned ministries in order to work at the local level jointly with local government authorities and heads of dehkan farms on explanation of these issues. During the meeting it has been underlined that the draft of regulations on order of extension of credits has been prepared, which will be offered to working group for its further improvement. The given draft requires approval and implementation of real work to put it into practice in the shortest terms.

The necessity of granting to banks of guarantee of repayment of the credits extended by them has been underlined. Earlier it was offered to use the land use certificates as collateral and necessity for us to find, first of all, sources for extension of credits and to pay attention to internal investments, and also to stir up activity in attraction of foreign investments. “I am sure, that if we shall make joint efforts, this matter will be settled positively, - has noted the Chairman of the National Bank of Tajikistan, - as banks have the rich practical experience in extension of credits. The Adviser of the President on Economic Policy Buriev N, the representative of the Ministry of Agriculture and Nature Protection Valiev S. have made suggestions on time settlement of the issue on providing funds for future crop. Addressed the meeting the Chairman of the Board of OJSC Oriyonbank Sadulloev Kh., First Deputy Chairman of the Board of Agroinvestbank Vafoev M, the Chairman of the Board of CJSC TJSC IBRD Tajprombank Ziyoev J., the Chairman of the Board of SSB RT Amonatbank Mahmadaminov M have noted the necessity of the resolving of existing problems of agriculture, use as the collateral of the land use certificates and sale and buying of the given certificates, establishment of stock exchange on their sale at the top-level within the legislation of the country.

The created working group has started to work in the same day.