DUSHANBE, January 8, Asia-Plus – The National Bank of Tajikistan (NBT) is continuing to take efforts to improve a state of banking system in the country.
Turaqul Haqnazarov, head of the NBT department for licensing and banking supervision, said that the NBT reorganizes banks and credit societies that fail to comply with the central bank’s minimum capital requirements or revokes their licenses.
We will recall that the National Bank of Tajikistan’ minimum capital requirements for banks have been revised upwards to $5 million.
According to him, by the NBT ruling of January 6 limited liability credit society Dehqon was reorganized into microcredit deposit organization.
The Dehqon credit society limited had offered large and small loans to entrepreneurs since the Nineties.
The NBT ruled that the credit society be transformed into the microcredit deposit organization because it had failed to comply with the central bank’s minimum capital requirements for credit societies, which have been revised upwards to $300,000, according the central bank official. “As of January1 207, the minimum capital of the Dehqon credit society limited amounted to $282,000,” Haqnazarov said.
By transforming the Dehqon credit society limited into the microcredit deposit organization the NBT has reduced a number of credit societies in Tajikistan to seven. A number of microcredit deposit organizations in Tajikistan exceeds 50, according to the department for licensing and banking supervision head.
As it had been reported earlier, KafolatBonk was transformed into credit society last year for failing to comply with the central bank’s minimum capital requirements. Besides, six other banks, including Bank Ayom, SomononBonk, Central Asian Bank, East-Credit Bank, Bank Olimp and STB InvestBank, are also currently at the stage of liquidation.
