The National Bank of the Republic of Tajikistan reported on the 10th meeting of Tajikistan’s National Financial Stability Council, which reviewed implementation of decisions from the previous meeting and agreed further measures to support financial stability, including in social insurance and pensions and the use of modern technologies in the financial sector. Discussions covered the development of cashless settlements and expansion of payment infrastructure, cyber risk prevention in the banking system, reduction of fiscal-sector risks and the condition of major state-owned enterprises, as well as the financial position of the social insurance and pension system and key balance of payments components such as exports and imports and financing of the current and financial accounts. The Council noted external risk factors including escalating trade disputes, tighter migration policies in some countries and uncertainty in financial and fuel markets, and adopted decisions spanning social insurance development, exchange rate policy and international reserve management, and attracting foreign direct investment. The Council is a standing interagency advisory body established by the Government of Tajikistan in 2018 to identify financial-system risks and propose mitigation measures.

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