DUSHANBE
, March 20, Asia-Plus – Te Board of the National Bank of Tajikistan (NBT) has made a decision on introduction temporary management at the Dushanbe-based “Kafolatbonk” for the purpose of bringing it into healthy state.
According to information from the NBT banking supervision and licensing department, an activity of “Kafolatbonk” last year was at a loss and it did not fulfilled requirements on keeping the minimal size of capital. “Following all this in accordance with Articles 48, 49 and 50 of the RT Law “On the National Bank of
Tajikistan
” the provisional administration for management of “Kafolatbonk” has been established,” the source said.
Under this decision the “Kafolatbonk” branches in the provinces will managed by heads of the NBT branches.
As it had been reported earlier, the NBT in 2005 announced requirements under which capital of each of banks in the republic should be equivalent to US$5 million as of
January 1, 2006
. Tajik central bank head Murodali Alimardonov told a news conference in
Dushanbe
on the results of work carried out in 2005 that practically all banks in the republic, except two ones, including “Kafolatbonk”, had managed to cope with that task. Four banks have even over-fulfilled the target: “Oryonbonk” — some US$15.5 million, “AgroInvestBonk” — US$12.4 million, “Tajprombank” and “Tojiksodirotbonk” – US$8.4 million each.
