Work to promote Islamic financial services continues in Tajikistan

On July 2, 2025, within the framework of the 23rd annual meeting of the Islamic Financial Services Board (IFSB), a meeting was held between the First Deputy Chairman of the National Bank of Tajikistan Firuz Sharifzoda and the Secretary General of the Council Mr. Giyos Shabsig, the press service of the National Bank of Tajikistan reports.

During the meeting, the parties exchanged views on issues of strengthening cooperation, promoting Islamic finance, implementing international IFSB standards, as well as developing a regulatory framework for issuing sukuk (Islamic securities), access to technical and financial resources, and training highly qualified personnel in the field of Islamic finance and banking.

First Deputy Chairman of the NBT Firuz Sharifzoda noted that the development of Islamic finance in the country as a priority strategic direction is of great importance for financial inclusion, diversification of the financial sector and provision of services in accordance with the principles of Islamic finance, and Tajikistan has done certain work in this direction, including in the development of regulatory legal acts, training of specialists, and the introduction of Islamic products.

In turn, IFSB Secretary General Mr. Gyos Shabsig expressed the Council’s readiness to develop standards, conduct joint training courses, provide technical support and strengthen regional cooperation.

During the conversation, it was also noted that the National Bank of Tajikistan is not only the regulatory body of the banking system, but also the regulatory body of the country's insurance sector, including Islamic insurance (takaful). In this regard, the parties came to the conclusion that the Republic of Tajikistan will be assisted in studying the experience of developed countries in the areas of takaful, sukuk, Islamic monetary instruments and Islamic financial technologies.

It should be noted that the National Bank of Tajikistan has been a member of the IFSB since 2010, and its representatives actively participate in the organization's working groups. The NBT's cooperation with the IFSB contributes to strengthening the regulatory framework and regulation and supervision of Islamic finance in the country.