Exploring the role of the banking industry in promoting the betterment of financial inclusion in Tajikistan

Ashurov, Sharofiddin and Alhabshi, Syed Musa and Haron, Razali and Khurshed, Mirakilev (2021) Exploring the role of the banking industry in promoting the betterment of financial inclusion in Tajikistan. In: International Conference on Islamic Financial Literacy, 7-8 July 2021, IIUM Gombak Campus. (Unpublished)

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Abstract

The banking industry in Tajikistan has shown gradual growth in enhancing the financial intermediary since its independence in the early 90th. Despite making significant progress in all core banking areas relating to financial activities, there are concerns that the banking industry in Tajikistan has not been able to include a vast segment of the population, especially the deprived segments of the society, into the fold of basic banking services. Therefore, this study aims to explore the role of the banking industry in the betterment of financial inclusion in Tajikistan from 2010 till today. To achieve the objective, this study adopted a case study design using secondary data like an official report from international institutions such as World Bank, IMF, due to being an independent and more accurate document, and the local banking industry with document analysis tools and techniques. The result of the study showed that the banking industry has not played its role in promoting financial inclusion due to many reasons such as instability of the banking industry as there is many banks have been closed down since the last decades, increasing the distrust of the population on the banking industry, high transaction costs, poor production and services, corruption, lack of transparency with clients among others. Hence, this study recommends the banking industry and central bank on top of them to take serious action for the betterment of financial inclusion which will affect the financial stability and growth in the country. Furthermore, to support the financial inclusion agenda institutionally by creating a separate unit at the National Bank of Tajikistan in charge of inclusion issues of all public and private stakeholders dealing with financial inclusion issues.

Item Type:	Conference or Workshop Item (Plenary Papers)
Uncontrolled Keywords:	banking industry, financial inclusion, case study, Tajikistan.
Subjects:	H Social Sciences > HG Finance H Social Sciences > HG Finance > HG1501 Banking
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Institute of Islamic Banking & Finance (IIiBF)
Depositing User:	Dr Sharofiddin Ashurov
Date Deposited:	11 Nov 2021 14:30
Last Modified:	11 Nov 2021 14:31
URI:	http://irep.iium.edu.my/id/eprint/92549

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