The annual Conference of the financial and banking system of the Tajikistan “Financial Inclusion: Global Trends, Opportunities, Best Practices”

In Hyatt Regency on 20-21 of October hold the annual conference on the financial and banking system of Tajikistan “Financial Inclusion: Global Trends, Opportunities, Best Practices” in Dushanbe. The National Financial Inclusion Strategy of the Republic of Tajikistan for 2022-2026 was adopted at the meeting of the Government of the Republic of Tajikistan, which was held under the leadership of the Founder of National Peace and Unity, Leader of Nation, President of the Republic of Tajikistan, Honorable Emomali Rahmon, on June 30 of this year. In 2019, at the time when the National Bank of Tajikistan in cooperation with the International Financial Corporation (World Bank Group) began this work, AMFOT, in close cooperation with international partners, NABWT and the National Bank of Tajikistan, held the first banking conference dedicated to financial inclusion issues. Based on the result of the First Conference, it was decided to hold it annually. Unfortunately, due to the outbreak of the COVID-19 pandemic, only in December 2021, AMFOT, in close cooperation with IFC and GIZ (Integrated Rural Development Project/TRIGGER), was able to hold the 2nd conference dedicated to ensuring financial inclusion. In September of this year, the IFC held the ceremony of official launching the National Financial Inclusion Strategy of the Republic of Tajikistan for 2022-2026, at which the Coordination Council was created and a step-by-step Action Plan for its implementation was adopted with the invitation of all participants for its implementation.

      The main objectives of the Conference in 2022 are to identify and study ways to effectively implement the National Strategy for Financial Inclusion in conjunction with an increase in foreign investment in the country’s banking sector; Raise awareness of ecosystem factors, digitalization of financial services and the development of delivery channels and the transitions to a “cashless economy” that ensure full financial inclusion; improve the processes of “green finance”, “Islamic Banking”, identify shortcomings and promising areas in the financing of women businesses, youth and vulnerable segments of the population; analysis of the state of readiness of the financial and banking sector to “external threats”, anti-crisis measures taken,  etc.

Plenary session №1: On the issues of the “long-term strategy for the development of the financial sector through the prism of financial inclusiveness”. Presentation of the National Bank of Tajikistan, the Ministry of Economy and Trade of the Republic of Tajikistan, the International Monetary Fund, and the Advisory Council under the President of the Republic of Tajikistan on improving the investment climate discussed.

Plenary session №2: Hold in TED talks style, where the most burning issues related to the resilience of the banking system in the “difficult” modern environment, corporate governance as a key factor in ensuring sustainable business development, personnel development and marketing solutions for credit organizations under conditions of “uncertainty”. Speakers at this session were international experts representing IFC (International Financial Corporation) and consulting companies Person Hunters and Paper Planes.

Plenary session №3: On the issues of Corporate Governance 2.0: ESG, climate change, and digital ecosystem –as new financial institutions outlook. Representatives of the IFC, banks of Tajikistan and representatives of the banking system of Ukraine made presentation at this session.

Further, panel discussions in three groups hold, where presentations and speech were provided on the following topics: digital transformation, financing women’s entrepreneurship, improving access to credit for youth and vulnerable segments of the population, non-financial services of banks and the microfinance sector, and Islamic finance issues.

The second day of the Conference was divided into two plenary sessions, investment policy of banks in “challenging” times. Representatives of investment companies that have been working in Tajikistan for many years, such as BlueOrhard, Triodos and others made presentations.

The second plenary session was on the issue of innovative technological business solutions in cross-selling and servicing in financial institutions. The speakers of the session were representatives of International IT companies and banks of Tajikistan.

Further, panel discussion in three groups was held, where presentations and speeches were on the following topics: anti-crisis management in financial institutions, financing the green economy, and expanding opportunities to improve access to financial services.

The Conference provide opportunity for financial and other institutions to present their own products and services aimed at fulfilling the financial inclusion strategy, furthermore, those institutions that have adopted working methods aimed at ensuring financial inclusion at all levels of operation and management were given the opportunity to showcase best practices and lessons learned from this practice. Such an open constructive dialogue is especially important today, when it is necessary to jointly overcome the consequences of the COVID-19 pandemic, which has affected the life of all countries and significantly limited international contacts of investors, donors and creditors. It is obvious that without building up equal and constructive cooperation between all participants in the process of implementing the National Financial Inclusion Strategy for 2021-2026, expanding multifaceted business ties with foreign investors, it is impossible to move forward, confront global challenges, and provide conditions for sustainable development. During the conference, were opportunities to make acquaintances, communicate and establish business contracts with the conference participants. The conference was attended by representatives of the Government of the Republic of Tajikistan, ministries and departments, international financial institutions, financial and credit organizations, donors, investment companies, international organizations, consulting companies, business communities, entrepreneurs and the Mass Media.

It should be noted that the conference is organized with the assistance and support of the government of the Republic of Tajikistan, the National Bank of Tajikistan, the International Finance Corporation IFC, GIZ (the Integrated Rural Development Project/TRIGGER).

The Association of Microfinance Organizations of Tajikistan thanks for the support and assistance provided by: CJSC “Bank Arvand”, OJSC “Bank Eskhata”, International IT company “ASPEKT”, MDO “FINCA”, CJSC “Spitamen Bank”, MDO “Imon International”, CJSC “Dushanbe City Bank”, “Spitamen Insurance”, Megafon Tajikistan, Top-Consulting, CGFT-Credit Guarantee Fund of Tajikistan, ZYPL.AI.