The National Bank of the Republic of Tajikistan held a training seminar on 21 April for chief accountants and responsible staff of insurance organisations to introduce the provisions of the “Procedure and norms for deducting contributions to insurance reserve funds”. The framework is intended to standardise the formation of insurance reserve funds as the main source for insurance payments and compensation to policyholders. The bank highlighted that the procedure is also designed to support the taxation process for insurance and reinsurance organisations by setting out the inclusion of formed insurance reserves in tax deductions. The rules are framed as a step-by-step alignment of reserve formation practices with core insurance principles and international standards, and are expected to strengthen insurers’ financial base and support their solvency obligations towards policyholders, insured persons, beneficiaries and the state.

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