Financial Sector Assessment : Republic of Tajikistan
Tajikistan’s economy is entering a downturn and the banking sector is showing substantial weaknesses. Although regulation has improved in line with recommendations of the 2007 financial sector assessment program (FSAP), supervision and enforcement...
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| Format: | Report |
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World Bank, Washington, DC
2016
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| Online Access: | http://documents.worldbank.org/curated/en/2015/12/25222876/tajikistan-financial-sector-assessment http://hdl.handle.net/10986/23661 |
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okr-10986-236612021-04-23T14:04:16Z Financial Sector Assessment : Republic of Tajikistan International Monetary Fund World Bank BANKING SECTOR CREDIT REPORTING SYSTEM CREDITWORTHINESS FINANCIAL STABILITY IMMOVABLE COLLATERAL INSOLVENCY MICROFINANCE INSTITUTIONS NON-CASH INSTRUMENTS Tajikistan’s economy is entering a downturn and the banking sector is showing substantial weaknesses. Although regulation has improved in line with recommendations of the 2007 financial sector assessment program (FSAP), supervision and enforcement have been lagging behind. The widespread solvency problems in the sector must be addressed head-on and the authorities should be jointly prepared to cope with the worst. As the current banking sector development strategy is ending, the main stakeholders in financial policy should develop a comprehensive strategy that addresses issues in achieving greater financial stability, efficiency, and inclusion in Tajikistan. To fully realize the potential of its financial infrastructure in support of financial stability, efficiency, and inclusion, Tajikistan needs to implement further reforms: the private credit reporting system draws on data sourced from banks and microfinance institutions but fails to exploit other useful data such as telecommunication companies, utilities and insurance companies to evaluate the creditworthiness of individuals with greater efficiency; enforcement of immovable collateral can benefit from improved out-of-court enforcement and credit collection through auction sales, which is quite ineffective; and to achieve greater use of non-cash payments, greater efforts are needed to stimulate both demand and supply of non-cash instruments and capture a greater share of the remittance market. 2016-01-14T20:10:02Z 2016-01-14T20:10:02Z 2015-05 Report http://documents.worldbank.org/curated/en/2015/12/25222876/tajikistan-financial-sector-assessment http://hdl.handle.net/10986/23661 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Economic & Sector Work :: Financial Sector Assessment Program Economic & Sector Work Europe and Central Asia Tajikistan |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
BANKING SECTOR CREDIT REPORTING SYSTEM CREDITWORTHINESS FINANCIAL STABILITY IMMOVABLE COLLATERAL INSOLVENCY MICROFINANCE INSTITUTIONS NON-CASH INSTRUMENTS |
| spellingShingle |
BANKING SECTOR CREDIT REPORTING SYSTEM CREDITWORTHINESS FINANCIAL STABILITY IMMOVABLE COLLATERAL INSOLVENCY MICROFINANCE INSTITUTIONS NON-CASH INSTRUMENTS International Monetary Fund World Bank Financial Sector Assessment : Republic of Tajikistan |
| geographic_facet |
Europe and Central Asia Tajikistan |
| description |
Tajikistan’s economy is entering a
downturn and the banking sector is showing substantial
weaknesses. Although regulation has improved in line with
recommendations of the 2007 financial sector assessment
program (FSAP), supervision and enforcement have been
lagging behind. The widespread solvency problems in the
sector must be addressed head-on and the authorities should
be jointly prepared to cope with the worst. As the current
banking sector development strategy is ending, the main
stakeholders in financial policy should develop a
comprehensive strategy that addresses issues in achieving
greater financial stability, efficiency, and inclusion in
Tajikistan. To fully realize the potential of its financial
infrastructure in support of financial stability,
efficiency, and inclusion, Tajikistan needs to implement
further reforms: the private credit reporting system draws
on data sourced from banks and microfinance institutions but
fails to exploit other useful data such as telecommunication
companies, utilities and insurance companies to evaluate the
creditworthiness of individuals with greater efficiency;
enforcement of immovable collateral can benefit from
improved out-of-court enforcement and credit collection
through auction sales, which is quite ineffective; and to
achieve greater use of non-cash payments, greater efforts
are needed to stimulate both demand and supply of non-cash
instruments and capture a greater share of the remittance market. |
| format |
Report |
| author |
International Monetary Fund World Bank |
| author_facet |
International Monetary Fund World Bank |
| author_sort |
International Monetary Fund |
| title |
Financial Sector Assessment : Republic of Tajikistan |
| title_short |
Financial Sector Assessment : Republic of Tajikistan |
| title_full |
Financial Sector Assessment : Republic of Tajikistan |
| title_fullStr |
Financial Sector Assessment : Republic of Tajikistan |
| title_full_unstemmed |
Financial Sector Assessment : Republic of Tajikistan |
| title_sort |
financial sector assessment : republic of tajikistan |
| publisher |
World Bank, Washington, DC |
| publishDate |
2016 |
| url |
http://documents.worldbank.org/curated/en/2015/12/25222876/tajikistan-financial-sector-assessment http://hdl.handle.net/10986/23661 |
| _version_ |
1764454466919071744 |