UAE and Tajikistan discuss opening branches of Emarati banks in Dushanbe

The National Bank of Tajikistan announced that issues related to the opening of representative offices and branches of UAE banks in Tajikistan were discussed in Dushanbe.

The discussion took place during a meeting of the first deputy chairman of the board of directors of the National Bank of the Republic of Tajikistan, Fardves Tulibzoda, with the head of the sector of communications with government organizations and non-bank accounts of the UAE central bank, Salem al-Harami.

“Favorable conditions have been created in Tajikistan to attract direct investment and free and unrestricted activities of foreign investors in the economic sector, including the banking system, and there is an optimal regulatory and legal framework,” the National Bank of Tajikistan said.

Salem al-Harami expressed interest in establishing mutually beneficial cooperation and investment opportunities in sectors of the country’s economy, including the banking system.

“The arrival of entrepreneurs and investors from the UAE will give a new impetus to the strengthening of bilateral trade relations and will help monitor the implementation of documents signed on cooperation between entrepreneurs from the two countries during the Dushanbe International Investment Forum 2023,” he said.

The parties discussed issues related to the possibility of investors from the UAE investing in the capital of banks in Tajikistan, issues of Islamic banking, opening correspondent accounts, establishing cooperation between the central banks of the UAE and Tajikistan, and studying the UAE’s experience in the field of Islamic banking.

The parties also drew attention to the issues of establishing fruitful cooperation between the central banks of the UAE and Tajikistan in various fields of the banking sector and signing a new draft memorandum of cooperation in the field of information and experience exchange between central banks.