A resident of Hisor Township has been punished for illegal hard-currency exchange transaction.  

A court in Hisor has ruled to impose a fine of 36,500 somoni on local resident Bahodur Jalilov for illegal hard-currency exchange operation (Article 286 of Tajikistan’s Penal Code), according to the press center of the Prosecutor-General’s Office.

On September 17, Bahodur Jalilov, who does not have an appropriate license for performing hard-currency exchange operations, exchanged 4,000 U.S. dollars of a local resident for 35,220 somoni.  

Tajikistan toughened punishment for illegal hard-currency exchange operations last year.  On March 9, 2016, Majlisi Namoyandagon (Tajikistan’s lower chamber of parliament) endorsed amendments proposing to toughen punishment for illegal hard-currency exchange operations.

The amendments, which were offered by the government, in particular, provide for introducing jail terms of up to nine years for illegal hard-currency exchange operations.

Thus, the amendments offered to Article 286 of Tajikistan’s Penal Code stipulate that illegal hard-currency exchange operations by a person, upon whom administrative action was imposed during a year, are punishable by a fine ranging from 8,000 to 14,000 somoni or by up to two years in jail.

The illegal hard-currency exchange operations in the amount of more than 20,000 somoni are punishable by a fine ranging from 29,200 to 43,000 somoni or by up to six years in jail.

The illegal hard-currency exchange operations in the amount of more than 80,000 somoni are punishable by a fine ranging from 51,800 to 65,680 somoni or by up to nine years in jail.

Recall, Tajik central bank in December 2015 suspended operations at all money exchanges points, citing speculation, leaving only banks the right to perform the transaction.  Anybody carrying out unauthorized currency exchanges could face stiff penalties.