Regulatory Requirements for Financial Institutions in Tajikistan

The banking sector in Tajikistan is governed by a comprehensive system of legislative and normative acts that regulate all aspects of banking activity. This article provides an overview of the key regulatory requirements for financial institutions in Tajikistan.

Key Laws Regulating Banking Activity

Law “On the National Bank of Tajikistan”

The central bank is responsible for determining the monetary policy, regulating and supervising the banking system, and ensuring the stability of the financial sector. The law outlines the principles of banking regulation and control, including procedures for reorganizing or liquidating credit institutions.

Law “On banks and banking activity”

This law defines the concept of a bank and non-banking financial institutions, as well as the banking system in Tajikistan. It specifies:

• List of permitted banking operations
• Principles of relationships between banks and customers
• Principles of relationships between banks and government

Additional Regulatory Guidance

In addition to the two key laws mentioned above, the Civil Code of Tajikistan and other relevant laws and normative acts of the National Bank provide further regulatory guidance on banking activities.

Key Areas Covered by Normative Acts

A range of normative acts issued by the National Bank cover key areas such as:

• Bank registration
• Licensing
• Accounting and reporting
• Auditing
• Non-cash settlements

Regulatory Framework: Ensuring Stability and Economic Development

The regulatory framework is designed to ensure the stability of the financial sector, protect consumers, and promote economic development in Tajikistan. The regulations set out required standards for banks to adhere to, as well as procedures for withdrawing licenses in cases where banks fail to comply with banking legislation.