DUSHANBE
, May 15, Asia-Plus – Five banks in
Tajikistan
are currently on the verge of liquidation, Mr. Turakhon Haqnazarov, the head of the banking supervision and licensing department of the National Bank of Tajikistan (NBT), said.
According to him, the Dushanbe-based banks such as “SomonBonk”, “East Credit Bank” as well as the “Ayom” Bank in the Khatlon province and “Joint Tajik-Kuwaiti Invest Bank” in Khujand are being liquidated for failing to meet requirements of the country’s banking legislation.
According to Haqnazarov, these banks have failed to form their regulative capitals determined at US$5 million for each bank. “Besides, these banks last year finished their activities at a loss,” the Tajik central bank official said.
Haqnazarov noted that STB-Investbank” should be self-liquidated before the end of this year.
As it had been reported earlier, the Board of the National bank of
Tajikistan
passed a resolution revoking license of the closed joint-stock company (CJSC) “STB-Investbank” for banking transactions in April this year. Such a decision was made because “STB-Investbank” has not met requirements of the country’s banking legislation. SBT-Investbank” last year finished its activity at a loss, failing to form the minimal authorized capital determined at 14,850,000 Somonis (equivalent to US$5 million). In this connection, the NBT revoked its licenses for banking transactions both in foreign and local currencies.
According to information posted on the NBT website, 11 banks, a branch of one foreign bank, seven credit societies and seven non-bank financial organizations have operated in
Tajikistan
as of January1 2006.
This year, representatives of some banks of
Turkey
,
Pakistan
,
Kazakhstan
and
Russia
have expressed wishes to open their representative offices and branches in
Tajikistan
. According to the source, a branch of one of foreign banks will have been established in
Tajikistan
by the end of this year.
