The Ministry of Finance of Tajikistan jointly with partners and under support of the European Bank for Reconstruction and Development (EBRD) held the second session of the Working Group for Development of Tajikistan’s Capital Market.

The meeting that took place at the EBRD Resident Office in Dushanbe on April 29 reportedly brought together representatives of the Ministry of Finance, the National Bank of Tajikistan (NBT), the Agency for Development of Equities Market, the Ministry of Economic Development and Trade, the Tax Committee, the State Committee on Investments and State-owned Property Management as well as other government bodies and representatives of the private sector and the EBRD.  

The main objective of the Working Group that was established in March 2019 is in supporting development of capital market in the country, developing appropriate legal foundation, improving the market infrastructure and solving other organizational issues related to the country’s capital market.  

The capital market is expected to become a reliable source of financing of Tajikistan’s economy, promoting its financial sustainability and stable growth through wider use of the national currency.  

A capital market is a financial market in which long-term debt (over a year) or equity-backed securities are bought and sold.  Capital markets channel the wealth of savers to those who can put it to long-term productive use, such as companies or governments making long-term investments.  Financial regulators oversee capital markets to protect investors against fraud, among other duties.