As part of the implementation of the Law of the Republic of Tajikistan “On payment services and the payment system”, in order to develop payment services, credit financial institutions are launching a new direction of banking activity - the activity of a bank payment agent. According to reports of the credit financial institutions as of December 31, 2023, credit financial institutions hired 596 bank payment agents, and in turn, these agents hired 60 bank payment subagents to carry out a number of banking operations.

In accordance with current legislation, bank payment agents are engaged by credit financial institutions to perform the following operations:

1. Acceptance of cash from an individual and (or) issuance of cash to an individual, including using terminals and self-service terminals;

2. Providing clients with electronic means of payment and ensuring their use in accordance with the conditions established by the payment service provider;

3. Identification of the identity of a client - an individual for the purpose of transferring funds without opening a bank account or providing an electronic means of payment to an individual in accordance with the Law of the Republic of Tajikistan “On combating the legalization (laundering) of proceeds from crime, the financing of terrorism and the financing of the proliferation of weapons of mass destruction."

In the Republic, bank payment agents, attracted from domestic credit financial institutions, currently accept cash from individuals through automated self-service terminals and carry out operations to identify clients.

Advantages of engaging bank payment agents:

• Development of financial inclusion, i.e. opportunities to expand public access to financial services in remote areas of the country;
• Reducing the costs of credit financial institutions for the construction of new branches and/or banking service centers;
• Attracting cash turnover from automated service terminals into the banking system;
• Increasing the level of financial literacy of the population