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Scientific evaluation of the country's banking system

On October 28, 2017 at the initiative of the Science and Innovation Department, as well as the Banking Department a scientific and theoretical conference on theme «The State of the Banking System of the Republic of Tajikistan in the Financial Crisis» was held at the Finance and Economics Institute of Tajikistan. The representative of the Executive Office of the President of the Republic of Tajikistan Alamkhon Naimi, Deputy Chairman of the National Bank of Tajikistan Sirojiddin Ikromi, as well as the researchers and experts took part in the conference.
The rector of FEIT Kudrat Davlatzoda opened the conference and noted that the purpose of the conference is to review and evaluate the recommendations and proposals of industry specialists and experts on the elimination of accumulated problems in the banking system of the country. He also noted that the process of forming a modern banking system in Tajikistan is directly related to the name of the Founder of Peace and National Unity, the Leader of the Nation, the President of the Republic of Tajikistan Emomali Rahmon. In the most difficult period after the establishment of state independence in Tajikistan, at the initiative of the Leader of Nation, the necessary conditions were created for establishing the institutional foundations for the formation and development of the banking system, and a state guarantee for the protection of property was given. These measures helped accelerate the process of forming the banking system of the country. Another achievement is the introduction of the national currency and the regulation of monetary policy.
The national development strategy for the period to 2013, the development of the financial market and the banking system is recognized as a priority direction that to a large extent determines the pattern of measures taken by the Government of Tajikistan to achieve high rates in the banking system.
In the final part of his speech, Davlatzoda K.K. noted that the formation and development of the banking system contributes to the economic development of the country, strengthening the competitiveness of the economy in general and financial structures in particular, the development of financial infrastructure, support for exports and small business, ensuring access to sources of long-term financing of the economy, strengthen the human resources capacity of financial, and banking authorities.
Then, Deputy Chairman of the National Bank of Tajikistan Sirojiddin Ikromi made a presentation on theme «The Stability of the Banking System and its Role in the Development of Credit Institutions», who analyzed in detail the current state of the banking system of the country, and also identified the ways to eliminate the shortcomings in the industry. He gave recommendations on the development of the banking system, including: improving the level of corporate governance, efficient management of assets and liabilities, improving the culture of lending, making the right analysis of the creditor's financial situation, improving the knowledge and professional skills of industry specialists, and compliance with the provisions of regulations. He also noted that at the moment there are risks of strengthening the high level of dollarization of the banking system. In this regard, the National Bank of the country takes the necessary measures to reduce possible risks and improve the banking system. The measures taken by the National Bank in the direction of dedollarization, contribute to increasing public confidence in the national currency and the banking system, concluded Sirojiddin Ikromi.
The participants also heard informative reports of: First Deputy of the Association of Banks of Tajikistan Rakhmatsho Sayismonov on the theme «The Risks of the System and Topical Problems of the Banking Sector», the Head of the Banking Service Center of OJSC «Orientbank» Alimurod Boboev on theme «The State Regulation of Monetary Policy in the Conditions of the Financial and Banking Crisis». The speakers gave recommendations on the regulation of monetary policy.
In the conference sectors, the following problems and tasks of the monetary and banking system were considered: financial sustainability, systemic risks and macro prudential policy; the problems of monetary and credit policy and its impact on the banking system; the ways to strengthen the exchange rate and its regulation in the banking system; stability of the banking system and its role in the development of credit institutions; the financial risks and the ways of managing it; strengthening of banking supervision within the requirements of the Basel Committee on Banking Supervision; increasing the level of competitiveness of banks in the financial crisis; the ways to eliminate the financial crisis in the conditions of the unevenness of the banking system.
It should be noted that the materials of the conference were previously published by the organizers, and were made available to participants of the scientific event.
Based on the results of the conference, scientifically based recommendations and proposals were sent for consideration to the National Bank of Tajikistan and other relevant structures.

Mashkhura Abdulloeva