Presentation state of financial inclusion in Tajikistan

1. Dushanbe, October 2019National bank
of Tajikistan
STATE OF THE FINANCIAL
INCLUSION IN TAJIKISTAN
Presenter:
Dr. Mohbonu Nakatova
Director of the Research Institute-
NBT

2. Defining Financial Inclusion in the context of our Country
2National bank
of Tajikistan
Financial inclusion means providing easy access to
and usage of a range of quality, formal financial
services to all population groups that meet their
needs with an affordable cost.
✓ Saving
✓ payments
✓ remittances
✓ credit
✓ insurance, and
✓ investment

3. Three main dimensions…
3National bank
of Tajikistan

4. Why we need NFIS?
4National bank
of Tajikistan
✓ Industrialization
✓ Competitive tourism sector
✓ Vibrant private sector
✓ Improved social protection
schemes
✓ Promoting Human Capital
Development
✓ Improve business environment
✓ Skills development
✓ Inclusive economic growth and
poverty reduction
✓ Jobs creation
✓ Improve quality of life and
human wellbeing

5. Why develop an NFIS in Tajikistan ?
5National bank
of Tajikistan
➢ Government of Tajikistan has an ambition to expand banked population
to the formal Financial Services up to 2030 (NDSRT up to the period 2030)
✓ Promoting Human Capital Development through Financial Literacy/Capability
✓ Contribute to financial sector stability through supplying quality financial services
& access points to individuals, chiefly to the SME
✓ Development Digital financial services towards cashless economy
✓ Aligned with macro policy goals of poverty reduction and ultimately Welfare

6. 6National bank
of Tajikistan
NFIS Policy Framework Example: Tajikistan

7. 7National bank
of Tajikistan
The Current State of FI in Tajikistan: access to
Payment infrastructure in 2018
7
Description
Indicators
ATM Cash providing
points
POS -
terminals
Country
Total number, unit 678 1485 3014
Per 10 thousand., labor force
population, unit 1,3 2,8 5,6
Dushanbe
Total number, unit 254 181 1778
Per 10 thousand., labor force
population, unit
4,5 3,2 31,7
Sogd
Total number, unit 183 496 755
Per 10 thousand., labor force
population, unit
1,2 3,1 4,8
Khatlon
Total number, unit 138 421 252
Per 10 thousand., labor force
population, unit
0,7 2,2 1,3
DRD
Total number, unit 78 295 190
Per 10 thousand., labor force
population, unit
0,6 2,4 1,5
BAMR
Total number, unit 25 92 39
Per 10 thousand., labor force
population, unit
1,8 6,5 2,7
Description
Credit
organizations
Country
Total number, unit 1816
Per 10 thousand., labor force population, unit
3,4
Per 100 km square , unit 1,3
Dushanbe
Total number, unit 291
Per 10 thousand., labor force population, unit
5,2
Per 100 km square , unit 2,9
Sogd
Total number, unit 607
Per 10 thousand., labor force population, unit
3,8
Per 100 km square , unit 0,9
Khatlon
Total number, unit 477
Per 10 thousand., labor force population, unit
2,5
Per 100 km square , unit 1,9
DRD
Total number, unit 339
Per 10 thousand., labor force population, unit
2,7
Per 100 km square , unit 1,2
BAMR
Total number, unit 102
Per 10 thousand., labor force population, unit
7,2
Per 100 km square , unit 1,6
Description
Indicator
values
Total number of cardholders, adults (% age 15+) 1 820 000
Adult population, person 5 379 700
Share of adult population holding payment
cards, %
33. 8 %
Total number of payment card transactions , unit 17 644 000
Transaction efficiency of payment cards, per
holder of payment cards, units 9. 69
Total number of accounts, units 3 520 000
Share of adult population with a bank account,
%
65. 4 %
Total number of Banks, units 1 816
The average number of accounts per credit
organizations
1938. 3
Per 10 thousand adult population number of
credit organizations, unit
3. 3
Percentage of adult population covering banking
services, %
58. 1
Source: Banking Bulletin 7 (276) pp 96 . NBT Tajikistan 2018

8. Main Target “to provide access to formal financial services for
80 percent of the labor force population by 2022”
8National bank
of Tajikistan
➢ Number of formal
financial services
offices per 10,000
adult population. 3,4
➢ Number of ATM per
10,000 adult
population. 1,3
➢ Number of POS-
Terminals per 10,000
adult population. 5,6
Access Indicators
➢ Share of banking
accounts at formal
financial institutions,
adult population, 65,4%
➢ Share of payment cards
at formal financial
institutions, adult
population, 33,8%
➢ Share of adult
population in, in
Financial Inclusion,
58,1%
Usage Indicators
➢ Financial literacy
index 17 %
➢ Number of financial
consumer complaints
-2811
➢ Percentage of
resolved complaints
83%
Quality Indicators

9. Key challenges for financial inclusion
National bank
of Tajikistan
Шаҳр Деҳот
9

10. National bank
of Tajikistan
10
Thanks!
Any questions?
You can find me at:
mnakatova@nbt.tj