DUSAHNBE, November 11, Asia-Plus — Izatullo Lalbekov, the head of TojikSodirotBonk (Tajik bank for foreign economic activity), said that the bank plans to have foreigners among its shareholders.
“In the beginning of the next year, TojikSodirotBonk will announce emission of its shares and any person interested may become shareholder of the bank,” Lalbekov said, noting that the bank will issue two types of shares: in national currency, the somoni, and in USD. “The face value of the share in national currency will be 100 somonis and the face value of another type will be US$100,” the TojikSodirotBonk head said.
“Emission of shares is one the ways to attract investments directly into the bank,” said Lalbekov, “It is necessary for the further development.” According to him, it is necessary to attract foreign investments, “but if the investor’s ownership interest exceeds 51 percent, it will have the right to manage the bank.”
“Our bank has received numerous proposals both from foreign banks and private companies on the purchase of a more than 50% stake in it,” said Lalbekov, “However, we are not yet going to consider this issue.”
TojikSodirotBonk was established in March 1992 and is among the three largest banks of Tajikistan. The bank has nine branches throughout the country and capital of 41 million somonis (equivalent to US$12 million). TojikSodirotBonk’s administration expects the bank’s capital to have increased up to 47 million somonis (US$13.8 million) by the end of the year.
