PROJECTS

Improvement of Water Resources Management Project in Khatlon Region, Republic of Tajikistan (Component B – Access to Islamic Finance)
Client: The State Institution “Project Implementation Unit for Access to Green and Rural Development Finance” Ministry of Finance, Dushanbe, Republic of Tajikistan 

The main objective of this assignment included extending Shariah- compliant line of finance (including micro-finance) to farmers and rural people to support them in agriculture value chain financing (primarily in production and processing) and support in rural development; facilitating in capacity building in Islamic microfinance; supporting Advocacy and Monitoring and Evaluation Units to promote Islamic microfinance; and TOT support to carry out workshops and preparation of communication campaign on the practical use of Islamic microfinance with the close assistance and facilitation of the Project Implementation Unit of Ministry of Finance (PIU-MoF), National Bank of Tajikistan (NBT), and partner Financial institutions (PFIs).

To facilitate implementation of the project, Islamic Finance Operations Manual was developed along with products toolkit and a Wakalah Agreement for disbursing funds from PIU-MoF to PFIs.

Three capacity building workshops were held to train the staff of PIU-MoF, NBT, and PFIs in project implementation, products practice/practical orientation, monitoring and evaluation, Shariah audit & internal controls, and creating demand for Islamic finance among public/businesses.