Ninth meeting of the National Financial Stability Council in the Republic of Tajikistan

  

On March 7, 2024, the ninth meeting of the National Financial Stability Council of the Republic of Tajikistan (Council) was held at the National Bank of Tajikistan under the chairmanship of the Chairman of the Council - the Minister of Economic Development and Trade of the Republic of Tajikistan Zavqizoda Zavqi Amin with the participation of the Advisor to the Department of the Assistant to the President of the Republic of Tajikistan on Economic Affairs, the leadership of the National Bank Tajikistan, representatives of the Ministries of Finance and Justice of the Republic of Tajikistan, as well as the Savings Insurance Fund for Individuals.

At the beginning of the event, in accordance with the agenda of the meeting, the progress of implementation of decisions taken at the eighth meeting of the Council was discussed, and the report of responsible persons on the adoption of the necessary measures for the development of non-cash payments by electronic means of payment and their impact on the national economy, barriers to the process introduction of an international financial accounting system at state-owned enterprises and development of the mortgage market.

During the meeting, members of the Council held discussions with presentations on topical issues, such as cybersecurity in the banking system, the process of switching payment for public services to non-cash payments, possible fiscal risks, as well as the risks of state-owned enterprises. It was noted that in the modern world, with the aggravation of the geopolitical situation, competition and uncertainty in trade relations, increasing problems associated with climate change and social inequality, close coordination of key ministries and departments plays an effective role in predicting risks and reducing their impact on the national economy.

During this process, it was emphasized that in today's global economic environment, important issues are increasing the capacity and competitiveness of the main activities of the financial sectors through the introduction of modern banking services, especially the expansion of non-cash payments and the development of payment system infrastructure, as well as protecting the financial system from cyber threats.

At the end of the meeting, in order to coordinate the implementation of the instructions and instructions of the Founder of Peace and National Unity - Leader of the Nation, President of the Republic of Tajikistan, respected Emomali Rahmon, to reduce the impact of potential risks on the national economy, use the existing potential and accelerate the digitalization of economic sectors, improve social services and others important issues, thus, appropriate decisions were made in the direction of increasing the share of non-cash transactions through electronic means of payment and virtual use in the provision of monetary services, reducing fiscal risks, ensuring transparency in the activities of state-owned enterprises, etc.

It should be noted that the National Financial Stability Council in the Republic of Tajikistan is a permanent interdepartmental advisory body created by the Decree of the Government of the Republic of Tajikistan dated June 21, 2018, No. 331 with the aim of considering issues of ensuring financial stability, identifying risks in the financial system and proposing measures to reduce them .