On February 11, 2026, in accordance with the plan of the Executive Office of President of the Republic of Tajikistan on arranging and holding press conferences in ministries and agencies to summarize the results of activities for 2025, a press conference was held at the National Bank of Tajikistan with participation of the representatives of domestic and foreign mass media.
Opening the meeting, the Chairman of National Bank of Tajikistan Firdavs Tolibzoda has emphasized that the National Bank of Tajikistan carried out its activities in 2025 in accordance with the sectoral legislation, tasks arising from the Message of the President of the Republic of Tajikistan, His Excellency Emomali Rahmon “On the main directions of domestic and foreign policy of the republic”, as well as on the basis of the “Main directions of monetary policy of the Republic of Tajikistan for 2025 and the medium-term period”.
Then, the participants were presented with detailed information in the form of video graphics on the results of economic development and the activities of the banking system. In particular, it was noted:
In 2025, the inflation rate was summed up at the lower limit of the target indicator (5% ± 2 percentage points), amounting to 3.5%, which is 0.1 percentage points less than the previous year. In order to regulate the amount of money in circulation and reduce inflationary pressures, 110 auctions of securities sales were held for the amount of TJS 63.6 billion.
Due to continuing the normalization process of domestic and global prices level of goods and services, the inflation rate being within the lower limit of the established target, and relatively stable inflationary expectations for the reporting year, the refinancing rate was gradually reduced by 1.5 percentage points and set at 7.5% per annum.
In 2025, the National Bank of Tajikistan continued its exchange rate policy in the “regulated floating, without determining and announcing the limits of exchange rate fluctuations”, and the official somoni exchange rate against the US dollar was stabilized at 15.4%.
As of December 31, 2025, a total of 69 financial and credit institutions were operating in the republic, including 18 traditional banks, 1 Islamic bank, 26 microcredit deposit institutions, 2 microcredit institutions, and 22 microcredit funds. The number of structural subdivisions of financial and credit institutions at the end of 2025 amounted to 1,960 units, which is 32 units more than at the same date of the previous year.
Assets and liabilities of financial credit institutions at the end of 2025 amounted to TJS 59.2 billion and TJS 47.9 billion respectively, which is 24.8% (or TJS 11.8 billion) and 24.4% (or TJS 9.4 billion) more than at the same period in 2024. The balance sheet capital of credit financial institutions amounted to TJS 11.3 billion, having increased by TJS 2.3 billion or 26.2% compared to the same date of the previous year.
As of December 31, 2025, the total balance of deposits amounted to TJS 33.9 billion, having increased by TJS 8.4 billion or 32.8% compared to the same date of the previous year. The total volume of deposits in terms of share in national currency and foreign currency has made 62.5% and 37.5% respectively. In the composition of the total balance of deposits, the share of legal entities has made TJS 14.7 billion or 43.5%, and the share of deposits of individuals reached TJS 19.2 billion or 56.5%.
In 2025, the volume of loans issued amounted to TJS 30.0 billion, which is 22.1% more than in the previous year. 42.6% of the total volume of loans issued falls on the consumer sector, 13.4% on trade and public catering, 11.8% on agriculture, 8.3% on industry, 7.1% on services, 6.1% on mortgages, 4.5% on construction, and 6.2% on other sectors. At the same time, it should be noted that 27.4% of the total volume of loans issued falls on manufacturing businesses, amounting to TJS 8.2 billion.
For the reporting year, microloans were issued in the amount of TJS 22.0 billion, which is 23.5% more than in the previous year. The weighted average interest rate on loans in the same period has made 22.6% in national currency and 11.7% in foreign currency. The balance of total loan portfolio of financial and credit institutions amounted to TJS 26.1 billion at the end of the reporting year, having increased by TJS 4.7 billion or 22.2% compared to the end of 2024.
It was reported that as of December 31, 2025, the total number of bank payment cards amounted to 10.4 million units, having increased by 23.7% compared to the same date of the previous year. The total number of electronic wallets amounted to 17.7 million units, having increased by 46.4% compared to the same date of the previous year. In 2025, financial credit institutions installed 3,453 ATMs and 4,991 electronic terminals at cash dispensing points (CPPs) to provide cash to bank payment card holders. These indicators are 14.9% and 30.8% higher, respectively, compared to the end of 2024. In addition, 9,017 POS terminals were installed in trade and service establishments to make non-cash payments as of the reporting date, which is 10.8% more than in 2024. Also, 28,762 unique QR codes were installed in trade and service establishments, which is 44.4% more than at the end of 2024. The number of automated self-service terminals as of the reporting date amounted to 7,330 units.
At the same time, 136.0 million non-cash transactions were carried out using electronic payment instruments (bank payment cards and electronic wallets) for the amount of TJS 42.4 billion, having increased by 47.1% in number and 39.8% in volume of transactions compared to 2024. The ratio of cash withdrawals to non-cash transactions was 70.6% to 29.4 % with the share of non-cash payment transactions increasing by 3.2 percentage points against to the previous year.
It was noted that as of December 31, 2025, 16 insurance institutions in the republic, including 1 state insurance institution and 15 non-state insurance institutions with 66 branches, provided insurance services to the population of the republic. The results of the summary of the country's insurance system in 2025 showed that the main indicators of the sector were growing. In particular, compared to the previous year, the assets of the system increased by 26.6%, capital by 28.8%, authorized capital by 6.9%, insurance reserves by 37.8%, insurance payments and compensations by 2.1 times, investments by 2.3%, deposits in financial credit institutions by 12.1%, and taxes paid by 29.6%.
It was also noted that the National Bank of Tajikistan has established fruitful cooperation with international financial institutions, and as a result of taking the necessary measures, in 2025, foreign capital (loans, direct investments and other types of investments) worth USD 6.01 billion was attracted to the country's banking system, which is 43.4% more than in the previous year.
In the second part of the press-conference, representatives of the media received full and complete answers for their questions about the National Financial Inclusion Strategy of the Republic of Tajikistan for 2022-2026, structure of international reserves, the volume of reserve money, measures to prevent fraud, digital currencies and virtual assets, increasing the level of financial literacy, the sale of gold bars of the NBT, currency fluctuations, measures to prevent sanctions against the country's banks, mortgage loans, the extension of the term of the Law of the Republic of Tajikistan "On amnesty in connection with the legalization of assets and funds of citizens of the Republic of Tajikistan", bitcoin-cryptocurrencies, interest rates on loans in financial credit institutions and other important issues of the banking system. Summing up the meeting, the Chairman of the National Bank of Tajikistan Firdavs Tolibzoda has expressed his gratitude to the representatives of the media for their fruitful interaction, fair coverage of the activities of banking system and expressed his willingness to further expand effective cooperation with them.
Press Division
Views: 4325
11.02.2026
