DUSHANBE, November 7, Asia-Plus – An official ceremony of opening of Tajikistan’s Development Bank (TDB) will be held in Dushanbe on November 8.
The National Bank of Tajikistan (NBT) passed a resolution permitting the establishment of the TDB on September 19. A source in the Tajik central bank says Tajikistan Development Bank was established as a closed joint stock company under Article 43 of the law “On the National Bank of Tajikistan” and Articles 17 and 19 of the law “On Banks and Banking Activity.”
According to the source, the TDB will be licensed tomorrow as well. “After it obtains a license, it will be required to have in reserve minimum capital in an amount equivalent to US $5 million within three months,” the NBT source said.
In the meantime, Nasimjon Shokirov, the head of Tajikistan Development Bank’s board, told Asia-Plus that the bank will offer a broad range of services issues, including accepting deposits in national and foreign currencies, cash operations, providing short-term and long-term loans, etc. ”Our bank will offer services which not all banks in the country offer, including consumer loans, small, medium and large mortgages and leasing operations,” Shokirov said.
According to Shokirov, the bank was founded by Tajikistan’s Everest Trading and British Atlantida Finance LTD. He said the bank’s stockholders include Tajiks as well as representatives from the United Kingdom. Shokirov did not detail the proportion of shares held by the British stockholders.
At present eight banks operate in Tajikistan: AgroInvestBonk, OryonBonk, SohibkorBonk, Bank Eskhata, AmonatBonk (Tajik savings bank), TojikSodirotBonk, TajPromBank and First Microfinance Bank. Additionally, a branch of Iran’s Terajat Bank and an office of Kazakhstan’s TuranAlemBank also function in the country.
