Visit of the Swiss Economic Cooperation Office manager to the NBT

Expanding bilateral cooperation was one of the topics discussed on June 14 during a meeting between Firdavs Tolibzoda, Chairman of the National Bank of Tajikistan, and Mr. Ronald Gindrat, program manager in the Macroeconomic Support Unit at the Swiss Economic Cooperation Office (SECO) in the Republic of Tajikistan.

The Chairman of the National Bank of Tajikistan thanked the SECO's macroeconomic programs manager for their long-term and productive collaboration, noting that the partnership with this esteemed organization allowed for the implementation of several significant reforms in the banking system and the financial industry in recent years. In particular, within the scope of SECO projects, changes were made to a number of instructions and regulations of the banking supervision sector, such as corporate governance, financial stability, overdue loans and other bank regulation tools, which showed significant results.

The parties agreed during the meeting that it was necessary to improve cooperation between them while making effective use of the resources already available. They also expressed interest in the implementation of additional banking sector reform projects to strengthen the mechanisms that regulate and control the operations of credit financial institutions, establish a legal framework for crisis management in the financial sector, develop macrostress test models, and hire consultants to develop the NBT's securities market, develop regulatory documents for the IFT module's implementation, and implement the Action Plan within the framework of the Republic of Tajikistan's National Strategy of Financial Inclusion for the years 2022–2026.

P.S: As a unit of the State Secretariat for Economic Affairs of the Swiss Confederation, the Swiss Economic Cooperation Office (SECO) seeks to further the economic development of its partner nations by using its experience in trade and economic policy within the framework of SECO projects.

Press Division

NBT

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14.06.2024