President Emomali Rahmon has harshly criticized the country’s banking system for inaccessibility of low-interest loans for entrepreneurs. He has ordered Tajik central bank to take measures to attract foreign investments in the country’s banking system.
His criticism came yesterday during an address to the International Entrepreneurship Forum in Dushanbe.
The head of state, in particular, noted that the banking system has failed to meet entrepreneurs’ demand for loans.
“Shortages of available banking funds, high interest rates and insufficient access to financial funds for entrepreneurs make take additional measures. The National Bank should study issues of attracting domestic and foreign investments in the country’s banking system and take efficient measures,” said the president.
He noted that stable activity of the banking system is the ground condition to provide financial stability and economic growth of the country.
He further added that the National Financial Stability Council had been set up in the country for the purpose of tightening control over financial stability and preventing negative impact of possible risks on the country’s financial system.
Speaking at the Forum, Rahmon noted that 49 billion somoni had been provided in loans over the past five years.
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