DUSHANBE, April 23, 2009, Asia-Plus — The government will make amendments to the country’s banking legislation following the outcomes of a special audit carried out at the National bank of Tajikistan (NBT) by international audit and consulting firm Ernst & Young, the central bank head Sharif Rahimzoda remarked at a news conference in Dushanbe on April 22.
According to him, draft amendments to the county’s laws on the NBT as well as banks and banking activity that are currently under consideration in the lower house of parliament are expected to be endorsed in the near future.
Amendments will allow improving management of the central bank, providing its transparency, Rahimzoda said. “The new banking legislation providing for inclusion of independent persons – veterans of banking system, researchers and experts in this field – into the NBT board will also ensure protection of rights of all members of the board,” the NBT head added.
On the Ernst & Young’s recommendation to set up the NBT board of directors, he said, “We cannot accept all proposals of the audit company because we know our banking system better than they.” There is no any necessity for establishment of the board of directors as Ernst & Young proposes because we have the NBT board, Rahimzoda said, noting that the central bank’s board consists of eight persons.
