Tajikistan set to boost ties with IFSB in advancing Islamic finance dev t

DUSHANBE, Tajikistan, July 11. Tajikistan will receive support in exploring the experiences of developed countries in takaful (Islamic insurance), sukuk (Islamic bonds), Islamic monetary instruments, and financial technologies from the Islamic Financial Services Board (IFSB), Trend reports via the National Bank of Tajikistan.

The announcement follows a meeting between First Deputy Chairman of the National Bank of Tajikistan, Firuz Sharifzoda, and Secretary General of the IFSB, Ghiath Shabsigh, held on the sidelines of the 23rd annual IFSB meeting.

In the course of the meeting, the sides exchanged views on enhancing cooperation, promoting Islamic finance, adopting IFSB international standards, and strengthening the legal framework for sukuk issuance. They also discussed improving access to technical and financial resources and training qualified specialists in Islamic banking and finance.

Sharifzoda emphasized the strategic importance of Islamic finance for expanding financial inclusion and diversifying Tajikistan’s financial sector. He noted the progress made in developing regulatory acts, introducing Islamic products, and training personnel.

In turn, Shabsigh reaffirmed IFSB’s readiness to provide technical assistance, organize joint training, and support regional collaboration.

The National Bank of Tajikistan, a member of IFSB since 2010, actively participates in its working groups. This partnership plays a key role in strengthening the regulation and oversight of Islamic financial services in the country.