The International Monetary Fund (IMF) said that residents and non-residents may hold foreign exchange accounts, though residents can not keep them abroad without the approval of the central bank. Restrictions on payments and transfers include quantitative limits on foreign workers' wages and conditions for repatriation. Many movements of capital required central bank approval.
Tajikistan banking system is weak and is formed by the central bank and 16 commercial banks. Commercial banks have focused on the supply of credit by the central bank for state enterprises in the agricultural and industrial sectors. The state controls most of the assets of the financial system. The banking system is largely ineffective and more people conduct business, including financial activities in the economy. bureaucratic corruption is the main obstacle to investment. The procedure for starting a business is both tedious and slow. Corruption, excessive regulation and absurd tax policies have frustrated the development of the private sector.
Tajikistan has the lowest average annual foreign direct investment since 1993, all members of the CIS. The civil war and unstable political situation was the main reason is the very low level of foreign direct investment. FDI stock in 1993, at the end of 2001 was U.S. $ 127 million, and gross FDI inflows in 2003 and 2004 were U.S. $ 31,600,000 and $ 22,400,000, respectively. Most foreign investment is concentrated in the textile agro-industries, and industries in which small-scale investments. The largest amount of FDI is concentrated in the textile sector with 44.6 per cent and the mining sector, where 42.1 percent of the total cumulative investment during 1993-2001.