The head of the Majlisi Namoyandagon (Tajikistan’s lower house of parliament) Committee on Economics and Finance, Sharif Rahimzoda, does not agree with the determination issued by the Constitutional Court regarding some provisions of the country’s Civil Code and the RT Law “On Liquidation of Lending Agencies.”
Majlisi Namoyandagon deputies on June 13 discussed an article “U Vkladchkov Poyavilas Nadezhda” (Depositors Have Got Hope) that was published in Asia-Plus newspaper on June 11.
Recall, the article, in particular, says that the Constitutional Court of Tajikistan notes that Part 1 of Article 65 of Tajikistan’s Civil Code and Part 1 of Article 35 of the RT Law “On Liquidation of Lending Agencies” contradict each other with regard to settlement of bank debts.
“In this connection, the Majlisi Oli (Tajikistan’s parliament), taking into account international practice and for the purpose of protecting interests and constitutional rights of retail customers, should review Part 1 of Article 65 of Tajikistan’s Civil Code and Part 1 of Article 35 of the RT Law “On Liquidation of Lending Agencies.” The determination is final and not subject to appeal,” says the Determination issued by the Constitutional Court of Tajikistan.
Consideration of this issue has been initiated by the member of the Board of the International Union of Lawyers, Solijon Jourayev.
He applied to the Constitutional Court noting that the third paragraph of Part 1 of Article 35 of the RT Law “On Liquidation of Lending Agencies” is not in compliance with Part 1 of Article 65 of Tajikistan’s Civil Code and asked to remove it.
The paragraph stipulates that demands of retail customers can be meet only in the fourth turn, which is in contrary to norms of Constitution and Articles 1, 2 and 65 of the country’s Civil Code.
The Civil Code is based on the Constitution of Tajikistan and Part 1 of its Article 2 notes that norms of civil legislation contained in other laws should be in compliance with the Civil Code.
Meanwhile, speaking at the session of Tajikistan’s lower house (Majlisi Namoyandagon) of parliament, the head of the National Bank of Tajikistan (NBT), Jamshed Nourmahmadzoda, noted on May 25 that Agroinvestbonk should settle its debt in the amount of more than 50 million somoni to the government before it pays out retail customers.
Speaking on this issue at the Majlisi Namoyandagon session, Rahimzoda noted on June 13 that in accordance with principles of lawmaking laws that were adopted later are superior to those adopted earlier.
“The Civil Code of Tajikistan was adopted in 1999 while the RT Law ““On Liquidation of Lending Agencies” was adopted I 2011. Therefore, clauses of this law are superior to the Civil Code clauses,” said Tajik lawmaker. “Besides, Point 5 of Article 62 of the Civil Code notes that liquidation of banks is carried out in accordance with this Code, if any another procedure is not determined by the banking legislation.”
The Majlisi Namoyandagon has not yet made an official comment on this issue.
