DUSHANBE, January 4, 2014, Asia-Plus — A new bank has reportedly appeared in Tajikistan.
According to the National Bank of Tajikistan (NBT) press center, Closed Joint-Stock Company (CJSC) Microcredit-Deposit Organization (MDO) Spitamen Capital has been reorganized into CJSC Spitamen Bank, bringing the total number of banks operating in the country to 17.
Tajik central bank notes that by NBT’s resolution issued on January 3, 2014 MDO Spitamen Capital was reorganized into the CJSC Spitamen Bank and it now may conduct banking transactions in the national and foreign currencies.
Established in 2008, CJSC MDO Spitamen Capital was among Tajikistan’s top ten microcredit-deposit organizations.
Under the Tajik law on microfinance organizations, microcredit – deposit organization is a commercial microfinance organization that takes deposits, extends micro-credits and conducts other operations as set forth in this law on the basis of a license issued by the National Bank of Tajikistan.
MDO Spitamen Capital began its activity with an authorized capital of 686,000 somoni. By 2013, its capital has increased to 51.4 million somoni and as of January 1 2013, Spitamen Capital’s loan portfolio reportedly amounted to 18.5 million somoni.
