Date: August 15, 2019
Location: Dushanbe, Tajikistan
Topic: Expanding Access to Finance in Tajikistan
First national conference on financial inclusion in the Republic of Tajikistan attended by MFC representative Kinga Dabrowska and MFC board members: Alisher Akbaraliev (Association of Micro-Finance Organizations in Tajikistan (AMFOT)) and Sanavbar Sharipova (IMON International).
Kinga shared few findings from MFC fintech mapping conducted in several countries about Fintechs&Regulation and their contribution to financial inclusion and financial health (project supported by Metlife Foundation).
Kinga spoke about the role of regulator in promoting innovation supporting financial inclusion based on example from United Kingdom: open banking, innovation office – Financial Conduct Authority, sandbox. The role of fintechs in improving transparency of the sector based on example from Poland: marketplace and comparison solutions helping clients to understand and compare various products. She also talked about the role of fintechs in improving access to financial products and services based on example from Turkey: fintechs using technology to service excluded/underserved segment like farmers.
About the conference:
The purpose of the conference “Expanding Access to Finance in Tajikistan” is to identify and explore innovations, innovative financial products and non-financial services that can facilitate access to finance for poor people, individual entrepreneurs and women, and increase their participation in the formal economy. In particular, the conference will consider the business case and the role of the private sector and financial investors who invest in sustainable and reliable products and services that can improve micro and small enterprises and public access to finance, especially those operating in remote areas. Its includes close attention to supply and demand issues that affect the use of traditional and alternative financial products and services, including those offered by microfinance organizations, credit associations, guarantee funds, etc.
The Microfinance Centre will be presented at the panel “Financial Accessibility and Inclusive Growth: Strategy and Programs” by Kinga Dabrowska (MFC Project Manager). Kinga will share findings from the fintech mapping conducted in last 12 months in Poland, Ukraine, Turkey, UK, talking about the the current state of engagement of the fintech sector in financial inclusion and financial health of the unbanked and underbanked groups and its implications for the traditional sector players.
The conference will provide an effective platform for discussion and coordination. Representatives of local and international financial institutions, the National Bank of the Republic of Tajikistan, the Parliament, the Government, entrepreneurs, representatives of NGOs and business service providers, as well as representatives of the financial structures of Central Asia will attend it. In their presentations, conference participants will share their experience in expanding financial services, introducing innovations, improving services, and developing financial and non-financial products that meet business needs. It’s expected that the conference will develop proposals and recommendations that will support SME development, expand women’s entrepreneurship, introduce information and financial technologies, and improve the country’s legal base, which ultimately will lead to increased access to finance and financial inclusion in Tajikistan.
The conference “Expanding Access to Finance in Tajikistan” is organized by AMFOT (MFC Member) and NABWT as part of the implementation of the Nice-Tak project “Network of business intermediary organizations and competitive enterprises in Tajikistan and Kyrgyzstan”. The NICE-TAK project is funded by the European Union with co-financing from the Federal Ministry for Economic Development of Germany. The conference partners are the European Bank for Development and Reconstruction, GIZ. The conference is directly supported by the Ministry of Economy of the Republic of Tajikistan, the National Bank of the Republic of Tajikistan, the State Committee on Investments and State Property Management of the Republic of Tajikistan.