The National Bank of Tajikistan has launched a systemic review of the insurance sector. The regulator approved a new development strategy until 2030, legalized electronic MTPL (OSAGO) policies, and began transitioning the market to international financial reporting standards.
What happened
On July 13, 2026, the National Bank of Tajikistan (NBT) summarized the results of the insurance market for the first half of the year and announced a package of new regulatory measures. The main document was the “Strategy for the Development of the Insurance System in the Republic of Tajikistan for 2026–2030.”
Along with it, the regulator approved a standard form for the electronic compulsory motor third-party liability (MTPL) insurance policy and amended relevant regulations.
In parallel, the NBT began preparing the market for the transition to the international financial reporting standard IFRS 17. Together with international partners, the bank is also developing Islamic insurance mechanisms and natural disaster risk management tools.
Country and market
Tajikistan’s insurance sector remains one of the most conservative in Central Asia. The share of insurance premiums in the country’s GDP is traditionally small, and the level of service digitalization lags behind the banking sector.
The introduction of electronic MTPL policies is a basic infrastructural step that neighboring countries have already taken. For local companies, this means the need to update IT systems, rebuild sales channels, and integrate with government databases.
The transition to IFRS 17 will require insurers to take a fundamentally different approach to risk assessment, reserve formation, and balance sheet transparency.
Why it matters
The new requirements change the rules of the game for market participants. At a meeting, the regulator explicitly pointed out to companies the need for timely payouts, strict compliance with standards, and the correct formation of insurance reserves.
Stricter supervision and the transition to international reporting standards will squeeze weak players out of the market, but will make the sector more understandable for external investors.
The digitalization of basic products like MTPL should increase the transparency of collections, simplify the customer journey, and reduce the level of fraud with paper forms.
What’s next
In the second half of 2026, insurance companies will have to adapt their internal processes to the new NBT requirements. The main challenge will be the practical launch of electronic MTPL policy sales and ensuring the uninterrupted operation of the digital infrastructure. Special attention is required for the initiative to introduce Islamic insurance—the timing of the appearance of the first products in this segment will depend on the speed of adopting the corresponding regulatory framework.