Regulations

Banking legislation – is a system of laws and regulations that regulate banking activity. The frame work for banking legislation of the Republic of Tajikistan consists of the Law “About National Bank of Tajikistan” and Law “About banks and banking activity”. 

The Law of the Republic of Tajikistan “About the National Bank of Tajikistan” defines: legal status of the National Bank of Tajikistan, principles of its organization,  the main tasks and functions, interaction with public authorities, purpose and main instruments of monetary policy, principles and methods of banking regulation and supervision, procedure of reorganization and liquidation of credit institutions, organization of money circulation and settlements, other functions and authorities of the National Bank of Tajikistan.

The Law “About banks and banking activities” determines: concept of bank and non-banking financial organizations, also the banking system of the Republic of Tajikistan, the list of banking operations, principals of the banks relations with the clients and the Government, procedure of establishment of the bank, registration and licensing of its activities (including banks with participation of the foreign capital), ground for recall of the license for carrying out banking operations, concept of “bank secrecy”, principals of accounting and book-keeping, procedure of audit inspection. Legal regulation of banking activity is also carried out by Civil Code of the Republic of Tajikistan, and by other laws and acts of the National Bank of Tajikistan. At present time there are adopted and have an effect the normative acts of the National Bank of Tajikistan, concerning procedure of registration of the banks and licensing banking activities, constituting compulsory norms  of their activities and terms of sanctions on banks  in case of violation by them the requirements of banking legislation, including the procedure of recalling license, procedure of carrying out cashless settlements and regulation of other issues regarding banking activities in the Republic of Tajikistan.