DUSHANBE, October 14, 2008, Asia-Plus — Open joint-stock company, Eskhata Bank, has introduced a new type deposit for its customers – deposit in different currencies.
Commenting on a new service, Bakhtiyor Hoshimov, the head of Eskhata Bank’s retail business department, told Asia-Plus on Tuesday that this type of deposits is similar to the multi-currency deposit, which has been successfully introduced in other countries, including the Russian Federation.
The multi-currency deposit account enables customer to manage different currencies in one account.
According to Hoshimov, the deposit in several currencies is very profitable, especially in case of sharp fluctuations on the currency markets.
Established in November 1993, a privately owned Eskhata Bank, with headquarters in Khujand, has eight branches in various regions of the country. The bank got operating license in 1994. In December 2005, European Bank for Reconstruction and Development (EBRD) took equity in Eskhata Bank that allowed Eskhata to continue to comply with the National Bank of Tajikistan’s minimum capital requirements, which have been revised upwards to $5 million.
