The National Bank of the Republic of Tajikistan held a working meeting with insurance companies and the National Association of Insurance Organisations to take stock of the country’s insurance system in 2024 and set supervisory priorities, including continued sector reform and a shift toward fully non-cash insurance transactions. The National Bank reported that amendments were introduced in 2024 to Tajikistan’s Law on Insurance Activity to strengthen the legal framework, and that a further amendment requiring insurance operations to be conducted entirely on a cashless basis is in the final stage of adoption. The Board also adopted two regulatory legal acts governing the conduct of inspections and the allocation of contributions to insurers’ insurance reserves, and developed new automated financial reporting formats, a chart of accounts and related account descriptions for insurance organisations. Insurance organisations were tasked with operating in line with legal requirements, improving service quality and the handling of policyholders’ requests, ensuring transparency, introducing modern services, expanding public awareness efforts, and carrying out all insurance operations on a non-cash basis.
National Bank of the Republic of Tajikistan 2025-01-09
National Bank of the Republic of Tajikistan reviews 2024 insurance reforms and instructs insurers to move to cashless operations
The National Bank of the Republic of Tajikistan reviewed the 2024 insurance system, setting supervisory priorities on sector reform and non-cash insurance transactions. Amendments to the Law on Insurance Activity were introduced to strengthen the legal framework, with a cashless operations amendment nearing adoption. New regulatory acts and automated financial reporting formats were developed to enhance transparency and service quality.