Supervisory Board of the Fund

The highest governing body of the Fund is the Supervisory Board. The Supervisory Board is responsible for the overall oversight of the Fund’s activities. The Fund is accountable to the Supervisory Board.

The Supervisory Board of the Fund consists of the following members:

1. The Chairman of the National Bank of Tajikistan — Chairman of the Supervisory Board;
2. The Deputy Minister of Finance of the Republic of Tajikistan;
3. A Representative of the Executive Office of the President of the Republic of Tajikistan;
4. The Chairman of the Association of Banks of Tajikistan;
5. The Chairman of the Fund.

Meetings of the Supervisory Board are convened at least twice a year.

The Supervisory Board has the following powers:

– Determining the main directions of the Fund’s activities;

-Approving the structure and annual budget of the Fund;

-Appointing and dismissing the Chairman of the Fund, and setting his salary;

-Reviewing and approving the Fund’s annual report;

-Selecting and appointing an external auditor;

-Deciding on financial borrowings from the Government of the Republic of Tajikistan in the event of a Fund deficiency;

-Making amendments and additions to the Fund’s Charter, provided that these changes do not contradict the law;

-Approving the Regulations of the Supervisory Board;

-Approving the Fund’s investment policy;

-Approving public information dissemination programs to enhance public trust in the banking system of the Republic of Tajikistan;

-Approving the reporting forms for credit institutions that are members of the Fund;

-Approving normative acts necessary for the Fund’s operations;

-Establishing the Fund’s conflict of interest policy;

-Deciding on reducing or suspending scheduled contributions when the Fund reaches its maximum size;

-Deciding on the temporary suspension of scheduled contributions from a credit institution undergoing resolution as per the Law of the Republic of Tajikistan “On the National Bank of Tajikistan”;

-Determining the nature and scope of the Fund’s internal audit functions and approving the audit results;

-Appointing an external auditor for special inspections and approving their results;

-Approving recommendations from the Chairman of the Fund regarding the selection of a paying agent for insurance compensation;

-Approving the payment of insured savings in the event of credit institution restructuring, by transferring insured savings to another credit institution, including an intermediary bank, in accordance with Article 311 of the Law of the Republic of Tajikistan “On Deposit and Savings Insurance”;

-Performing other functions provided by the current Law.