Politics and economy
Tajikistan is a presidential republic. The main body of the legislative branch is the parliament—the Madzhlisi Oli.
Tajikistan is an agrarian and industrial country. Its main industries are natural gas, coal, non-ferrous metallurgy and light industry. Most of its large companies are controlled by the state. The country has significant potential in the area of hydroelectric power, and among the CIS countries is second only to Russia in this regard.
Tajikistan is rich in deposits of precious stones, uranium, gold, coal and aluminum ores. The north of the country is home to the Bolshoi Konimansur deposit, one of the largest deposits of silver in the world.
The country imports ferrous metals, products of light industry, cars, food, agricultural equipment, pharmaceutical products and medical equipment. The main importers from the country are Russia (32.3%), China (11.9%), Kazakhstan (8.8%) and Uzbekistan (4.7%). Tajikistan’s national currency is the somoni.
Tajikistan has a bilevel banking system which includes the National Bank of Tajikistan (NBT) and 14 commercial banks. The National Bank of Tajikistan regulates commercial banks. As a first-level bank, it acts as the lender of last resort for them.
National AML/CFT regime
The laws of Tajikistan provide for criminal penalties for crimes associated with money laundering and terrorist financing. The country has been working on comprehensive AML/CFT legislation. To this end, a working group led by the President’s Economic Advisor was formed in January 2009 (AML/CFT Law).
In October 2009, President Emomali Rakhmon signed Decree No. 724 on the creation of a financial intelligence unit (FIU) called the Financial Monitoring Department of the National Bank of Tajikistan. The department is an administrative-type FIU.
The department is tasked mainly with collecting and analyzing information from organizations subject to financial monitoring and transferring it to authorized law enforcement bodies. To support the work of the FIU, incoming financial information is constantly monitored and analyzed.
Four divisions have been created in the Financial Monitoring Department.
Cooperation with the EAG
Tajikistan is one of the founding states of the EAG and has been an active member of the group.
Mutual evaluation report of Tajikistan by the World Bank was approved at the 9th EAG Plenary meeting. It has been recommended that Tajikistan should bring its national legislation into compliance with the FATF Recommendations and take the necessary steps to support the functioning of the financial intelligence unit.
The 21st EAG Plenary meeting was held in Tajikistan in November 2014.