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New Monetary Rules for Credit Organizations in Tajikistan

Saturday 13 October 2018

DUSHANBE (NBT press service) — The National Bank of Tajikistan (NBT) informed about the introduction of a new monetary mechanism (leverage), which allows credit organizations to keep their available funds in the NBT.

The National Bank of Tajikistan declared that in order to improve the monetary policy, it is introducing a mechanism for attracting short-term deposits of credit institutions through auctions. The first auction through the electronic system Thomson Reuters will take place on October 24 of this year.

According to recommendation 226 On conducting short-term credit in national currency by the NBT, the bank performs operations with a minimum refinancing rate+2%/year. Under this mechanism, credit organizations, by participating in these auctions, can keep their free funds in the National Bank. Along with this, in order to accelerate monetary operations, improve the availability of short-term payments, interest and revitalization of credit institutions in credit auctions, from now on the deposits of credit institutions will be attracted as collateral for a loan with a full ratio.

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