Approved by the Resolution of Board of National Bank of Tajikistan of January 28, 2002 No. 19

Regulations No. 118 on the non-bank financial organizations

This Provision is developed according to article 5 of the Law of the Republic of Tajikistan "About National Bank of Tajikistan" and article 44 of the Law of the Republic of Tajikistan "About banks and banking activity" which establish procedure for creation and termination, legal status, types of banking activities, nature of regulation and control of their activities.

Section I. General provisions

1. The non-bank financial organization - the legal entity not being bank which based on the license of National Bank of Tajikistan is competent to perform separate banking activities, to render financial servicing of legal entities and physical persons.

The non-bank financial organization (except credit unions) is the commercial organization and in the activities is guided "About National Bankby the Laws Tajikistan" of the Republic of Tajikistan, "About banks and banking activity", other laws, this Provision and the Charter.

The order of registration and regulations of credit unions is established by other regulations of National Bank of Tajikistan.

2. The non-bank financial organization has the right based on the license of National Bank of Tajikistan to perform the following banking activities:

a) cash transactions: acceptance, recalculation, exchange, exchange, packaging and storage of banknotes and coins;

b) loan operations: loan granting in cash;

c) translated transactions: accomplishment of orders of legal entities and physical persons on money transfer;

d) confidential (trust) transactions: cash management, securities in interests and at the request of the principal;

e) safe transactions: services in storage of papers, documents and values of clients, including leasing of safe boxes and rooms;

e) clearing transactions: collection, reconciliation, sorting and payment confirmation, and also carrying out their offset and determination of net line items of participants of clearing;

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