DUSHANBE, January 26, 2016, Asia-Plus – Tajikistan plans to toughen measures against illegal foreign currency transactions.
In a report released at a news conference in Dushanbe, Jamshed Nourmahmadzoda, the head of the National Bank of Tajikistan (NBT), revealed on January 25 that they propose to make illegal foreign currency transactions punishable by up to nine years in jail.
“The NBT specialists together with representatives of other government bodies are currently working on appropriate amendments to the country’s legislation,” Tajik central bank head said.
According to him, they also propose to increase fines for unauthorized currency exchanges. “We are forced to introduce new measures to prevent illegal foreign currency transactions,” Nourmahmadzoda noted.
Meanwhile, despite all measures being taken by Tajik authorities, the Tajik national currency, the somoni, has continued depreciating against the dollar due to impact of economic crisis in Russia, which is one of the main trading partners of Tajikistan and the main country of destination for Tajik labor migrants.
According to
EurasiaNet.org
, a $400 daily limit has been placed on how many dollars account-holders can draw on their cards.
In December, Tajik central bank reportedly suspected operations at all money exchanges points, citing speculation, leaving only banks the right to perform the transaction. Anybody carrying out unauthorized currency exchanges could face stiff penalties, the central bank said.
