Tajikistan and Kuwait discussed expanding cooperation between their banking and financial systems during a meeting between National Bank of Tajikistan Chairman Firdavs Tolibzoda and Kuwait’s ambassador to Tajikistan, Mohammed Rashid Al-Amiri, the central bank said.

The sides discussed establishing direct ties between banks, developing correspondent banking relationships and exchanging expertise in areas including financial digitalization, information technology, cybersecurity, compliance and artificial intelligence.

Tolibzoda said Tajikistan was interested in studying Kuwait’s experience in insurance and expanding cooperation in the sector.

The sides also discussed cooperation in Islamic finance, including Islamic banking, and the exchange of experience and best practices.

They agreed to continue dialogue and pursue practical measures to strengthen ties between the two countries’ banking and financial institutions.