Approved by the Resolution of Board of National Bank of Tajikistan of September 27, 2019 No. 121

The instruction No. 239 "About requirements to investments of credit institutions into the capital of other legal entities"

The instruction No. 239 "About requirements to investments of credit institutions into the capital of other legal entities" (further - the Instruction) is developed according to provisions of part 1 of article 42 of the Law of the Republic of Tajikistan "About National Bank of Tajikistan", parts 1 and 2 of article 29 of the Law of the Republic of Tajikistan "About banking activity" and parts 2 of article 23 of the Law of the Republic of Tajikistan "About the microfinancial organizations", and establishes procedure of long-term investments credit institutions in shares (shares) and bonds converted into shares (shares) of other legal entities, and also requirements for risk management of such investments, submission of the reporting, the publication and development of investment policy. 

Chapter 1. General provisions

1. The credit institution has the right to perform on its own behalf equity investing (share) and bonds converted into shares (shares), other legal entities in long-term goals only according to the procedure established by this Instruction. The investment procedure from credit institution in equity or debt securities on its own behalf or on behalf of clients, with sales objective, trade or storage to payment due date, is established according to requirements of other corresponding regulatory legal acts of National Bank of Tajikistan.

2. Microcredit institutions and microcredit funds are forbidden to perform equity investing (shares) and bonds converted into shares (shares), other legal entities, including, other credit institutions and foreign legal entities.

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