Ten years after the bankruptcy of several banks in Tajikistan, citizens are still waiting for the return of their savings. During a news conference on February 10, 2026, the High Economic Court of Tajikistan discussed the debts owed by four bankrupt banks, which have been unable to repay depositors for periods ranging from 3 to 10 years.
Zokir Aminzoda, Deputy Chairman of the High Economic Court, stated that the liquidation process for the banks Tojiksodirotbonk (TSB), AgroInvestbonk, Tajprombank, and Kafolatbonk is still ongoing.
Tojiksodirotbonk: from 326 million to 42.5 Million somoni owed
According to Aminzoda, Tojiksodirotbonk initially owed 326.4 million somoni to 9,816 depositors. As of now, the bank has repaid 283.9 million somoni to 8,916 depositors. The remaining debt stands at 42.5 million somoni, with 900 depositors still waiting for their funds.
The bank’s license was revoked by the National Bank of Tajikistan on May 26, 2021, following a banking crisis in 2016. From 2021 to 2025, the bank repaid a total of 278 million somoni, with a further 117.3 million somoni returned between August 2024 and 2025.
AgroInvestbonk: 444 million somoni still owed
AgroInvestbonk has repaid 82.2 million somoni to 5,711 depositors since its insolvency in 2021. However, 444 million somoni is still owed to 3,474 depositors. The bank, which faced liquidity issues due to the 2016 banking crisis, has made limited progress, and depositors continue to await full repayment.
In August 2025, the bank’s total liabilities amounted to 1.6 billion somoni, with 200 million somoni repaid to depositors. The liquidation process is ongoing.
Tajprombank: 18 million somoni left to pay
Tajprombank has repaid 159.3 million somoni to 4,929 individual depositors and 67.7 million somoni to 338 legal entities. However, it still owes 17.9 million somoni to 100 individuals and 2.4 million somoni to 140 legal entities. The bank has until October 2027 to fully repay its depositors.
The bank’s liquidation began in March 2017, and its license was revoked in February 2017. Former head of the bank, Jamshid Zioyev, was sentenced to 8.5 years in prison in 2020 for financial crimes related to the bank’s insolvency.
Kafolatbonk: 78.8 million somoni owed to Iranian banks
Kafolatbonk has repaid 1.3 million somoni to 420 depositors by January 2026. However, it still owes 78.8 million somoni to Iranian banks, including Sarmayeh Bank and Bank Saderat Iran, which are involved as co-creditors.
The liquidation process for Kafolatbonk is still ongoing, and its assets are currently being sold off to repay creditors.
Court’s actions
Aminzoda emphasized that all assets pledged by the bankrupt banks remain in place. Once these assets are sold by the appointed manager, the funds will be distributed to depositors. The liquidation proceedings for these four banks are continuing, with the court extending the deadlines until 2027 due to the incomplete fulfillment of obligations and the unsold assets.
Public outcry
Despite the ongoing liquidation processes, many citizens continue to express frustration over the slow progress of the debt recovery process. Complaints about the sluggishness of repayment efforts have been widespread on social media and in the media.
Out of the five major bankrupt banks in Tajikistan, only Fononbank has been fully liquidated. The others remain in the liquidation stage, and many depositors are still waiting for their money, some more than a decade later. The delay in repaying funds has raised significant concerns among the public, especially as the banking crisis of 2016 continues to affect ordinary citizens.
Toiksodirotbonk, Agroinvestbonk, Tajprombank and Fononbank were impacted by Tajikistan’s 2016 banking crisis. While Fononbank has since been fully liquidated, Tajprombank, Tojiksodirotbonk, and Agroinvestbonk remain in forced liquidation.
Meanwhile, as it had been reported earlier, the government provided financial assistance to TSB and Agroinvestbonk in 2017. Tojiksodirotbonk received a total of 2.250 billion somoni and Agroinvestbonk received 1.070 billion somoni. The bailout process reportedly ended up with the government owning 85.9 percent of shares in Tojiksodirotbonk and an 87.3 percent stake in Agroinvestbonk.
As far as Kafolatbonk is concerned, the National Bank of Tajikistan (NBT) issued a resolution on withdrawing the license of CJSC Kafolatbonk on October 27, 2021.
The NBT granted the operating license to CJSC Kafolatbonk on June 1, 2011.
Sarmayeh Bank, which assumes the 92% ownership interest in Kafolatbonk, is a major Iranian banking establishment offering retail, commercial and investment banking services.