In a report released at a news conference in Dushanbe, the head of the National Bank of Tajikistan (NBT), Jamshed Nourmuhammadzoda, revealed on July 22 that during the period from April to June this year, incomes of the country’s lending agencies fell 25.6 percent.
Over the report period, lending agencies were reportedly forced to close down 107 banking service offices and send 2,770 employees on vacation without pay.
“However, the lending agencies have completed the first half-year at the profit of 151 million somoni and 29 new banking service centers have been opened across the country,” Tajik central bank head told reporters.
According to him, the lending agencies have transferred nearly 200 million somoni in taxes to the national budget over the first six months of this year, which was 5.6 percent or 16t million somoni more than in the same period last year.
To support liquidity of lending financial institutions against the backcloth of impact of potential risks of the coronavirus pandemic as well as to reduce additional expenses and cost of loans provided to economic entities, the ratio of required reserves of lending financial institution on deposits and similar obligations has reportedly been temporarily lowered, until December 31 this year, by 2 percent for reserves in the national currency, the somoni, and by 4 percent for reserves in foreign currencies ad has been set at the rates of 1.0 and 5.0 percent respectively.
“This move has allowed improving state of the lending financial institutions during the crisis period and ensuring the additional liquidity for the banking system in the amount of 241.7 million somoni,” Nourmuhammadzoda added.
