EBRD supports regulatory framework for mobile financial services in Tajikistan

Friday 25 July 2014 10:06 CET | News

The European Bank for Reconstruction and Development (EBRD) is supporting the central bank of Tajikistan in creating a regulatory framework for mobile financial services in Tajikistan.

Regulators and representatives from local financial institutions and IFIs have presented and discussed business plans for the rollout of mobile services in the country. This new framework enables banks to use technologies and existing retail infrastructure to expand their services and footprint outside of traditional bank branches. It is also set to enable the provision of mobile payments services by non-banks in Tajikistan.

Financial services provided currently via agents and mobile devices include core financial services (account opening, deposits/withdrawals, loans, insurance) and payment services (remittances, bill payments, merchant payments).

In Tajikistan the Bank pursued a year-long EBRD technical cooperation project, funded by the French Finance Ministry, which created draft laws and regulation for both agent banking and mobile payments.

A range of organisations were consulted throughout the project, including local financial institutions, the central bank of Tajikistan, the Aga Khan Foundation, IFC, GIZ and mobile operators.

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Keywords: EBRD, regulatory, framework, mobile, financial, Tajikistan, IFIs, mobile payments, payments
Categories: Payments & Commerce
Countries: World
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