Translated with AI
On January 8, 2026, the National Bank of Tajikistan held a working meeting chaired by Deputy Chairman Sirojiddin Ikromi to discuss the country's insurance system performance in 2025, as well as achievements and objectives for the further development of the insurance sector. The meeting was attended by heads of the country's insurance organizations, according to the bank's press department.
The Deputy Chairman of the National Bank noted that despite the challenging economic and political situation globally and the impact of climate change in various regions, Tajikistan's key macroeconomic indicators for 2025 were positive, and the insurance system continued to develop sustainably.
During the reporting year, the National Bank, together with the Ministry of Finance, implemented a number of measures to reform the insurance system, including expanding non-cash payments. Specifically, amendments were made to the Law of the Republic of Tajikistan "On Insurance Activities," allowing for non-cash insurance transactions.
In addition, a number of regulatory legal acts were developed and adopted in 2025, including the "Procedure and Standards for Deductions of Contributions to Insurance Reserve Funds," "Procedure for the Preparation and Submission of Financial Statements," "Chart of Balance Sheet Accounts for Insurance (Reinsurance) Organizations," "Description of Balance Sheet Accounts for Insurance (Reinsurance) Organizations," and "List of Recommended Information to Be Included in an Insurance Policy." These acts ensure a modern accounting and financial reporting process in the industry, taking into account the efficient use of insurance resources.
The developed regulatory documents facilitate the development of the insurance system's infrastructure, eliminate uncertainties in insurance operations, increase confidence in the financial reporting of insurance companies, and facilitate the transition to digitalization of public finance management. Furthermore, they implement international accounting and financial reporting standards for all economic entities, regardless of ownership, in accordance with the instructions of the President of Tajikistan, Emomali Rahmon.
To ensure sustainable development of the sector, a draft "Strategy of the National Bank of Tajikistan for the Development of the Insurance System in the Republic of Tajikistan for 2026–2030" has been prepared, defining the medium-term directions of the insurance system.
A major innovation in 2025 was the digitalization of insurance operations. The National Bank, together with the Agency for Innovation and Digital Technologies under the President of Tajikistan, developed the "Unified Electronic Insurance System," which is in the final stages of implementation. Initially, the "Database of Compulsory Motor Liability Insurance" will be integrated into the system, with subsequent integration of all types of insurance.
Boburkhon Boboev, Head of the Insurance Supervision Department, presented detailed information on the coverage of the country's insurance system, key performance indicators, compliance with legislation and prudential regulations, monitoring of deficiencies, and prospects for further development.
During the discussion, representatives of insurance companies reported on the implementation of previously set objectives and received recommendations on improving service quality, transitioning to a digital system, adhering to the principle of transparency, implementing modern services, establishing branches and representative offices, expanding public outreach, and implementing all transactions cashless.
Summarizing the meeting, Deputy Chairman of the National Bank Sirojiddin Ikromi emphasized that insurance organizations must take effective measures to achieve the government's goals, implement plans and objectives, and transform the insurance system into a key and developed sector of the country's financial system.
