National Bank of the Republic of Tajikistan discusses expanding banking and insurance cooperation with Malaysia including Islamic finance and takaful

The National Bank of the Republic of Tajikistan held talks with Malaysia’s Ambassador to Tajikistan on strengthening bilateral cooperation in banking and insurance and identifying opportunities to deepen broader economic ties. The discussions included a proposal to establish closer practical links between the Malaysian and Tajik banking systems as an initial step. The central bank highlighted its support for foreign participation in the charter capital of Tajikistan’s credit institutions and for establishing subsidiaries, branches and representative offices in the country, noting that national legislation provides favourable conditions. It also pointed to improving performance indicators in the credit sector and rising demand for National Bank licensing, including to conduct Islamic banking operations. Additional topics covered included effective implementation of international banking standards, strengthening the National Bank’s regulatory and supervisory capacity for credit institutions and insurers, introducing Islamic mortgages through credit institutions, and developing the legal basis for introducing takaful insurance. Both sides expressed interest in further strengthening trade and economic links focused on developing the banking system and insurance market, and noted that continued meetings would support future cooperation.