A symbolic launch of trading in government securities took place at Hyatt Regency Dushanbe on January 17.
The debut Ring the Bell trading was officially opened by Presidential Aide for Economic Issues Nematullo Hikmatullozoda, Finance Minister Faiziddin Qahhorzoda and the Asian Development Bank (ADB) Country Director for Tajikistan Shanny Campbell.
Within the framework of the public finance management project, the ADB provides financial support for the organization of the secondary securities market in the country.
Speaking at the event, Hikmatullozoda noted that issuance of government securities is one of the most economically feasible methods of financing the budget deficit.
Besides, the issue of such securities can help smooth out unevenness of tax revenues, eliminating the cause of cash budget imbalance.
The government securities can be used to finance programs implemented by government bodies, the presidential aide emphasized.
The minister of finance noted that the issue of these securities was carried out in order to ensure to socioeconomic development of the country and implementation of the National Development Strategy of Tajikistan for the period up to 2030.
At the end of the event, Amonatbonk (Tajikistan’s savings bank) and Sanoatsodirotbonk (industry & export bank) were awarded licenses of a professional participant in the securities market.
Recall, presentation of the first issue of government securities on the country’s organized market took place in Dushanbe on January 9.
The event participants (Roadshow) were familiarized with the terms of issue and placement of government bonds of the Republic of Tajikistan.
Heads of the Ministry of Finance (MoF), the National Bank of Tajikistan (NBT) and senior representatives of a number of relevant ministries and agencies as well as international financial institutions active in the country participated in the meeting.
One of the meeting participants, who wanted to remain unnamed, told Asia-Plus that the presented government bonds are planned to be sold both to legal (commercial banks, companies and other organizations) and physical entities.
The money collected is expected go to the budget to finance important industries and sectors.
The MoF press center says the secondary market for sale of securities is expected to be established in Tajikistan. The secondary market is where investors buy and sell securities from other investors.
