DUSHANBE, April 17, Asia-Plus — A representative office of Kazakhstan’s Bank TuranAlem (BTA) has introduced its electronic money transfer system FASTER in Tajikistan.
An agreement on introduction of FASTER in Tajikistan has been concluded between BTA and open joint-stock company OryonBonk, Tajikistan’s largest commercial bank. The sides are currently working on putting the system into operation.
The source at OryonBonk said that it is the first experience of the Kazakh bank in introducing its electronic money transfer system in Tajikistan.
According to him, the system will improve speed of payments (in US dollars, euros and Russian rubles) to near real time. “And this system does not require opening of bank account,” the source said, adding that OryonBonk now offers its clients nine money transfer systems: Migom; Western Union, Contact, Bystraya Pochta, InterExpress, UniStream, Oryonline and bank requisites.
For the first time, BTA entered the money transfer market in 2006. The Pilot project on introduction of the FASTER system was realized in Kazakhstan. Depending on demand, feedback and reaction of the customers transfer geography has been expanded to CIS states with BTA presence.
BTA is the core of the financial group, present in all market segments. BTA is the system-making bank of Kazakhstan and the leader in creation of banking network in the CIS countries. Assets of BTA exceed $10 billion, its total capital exceed $1.7 billion.
New strategy of BTA for 2006-2015 includes taking of leading positions in Kazakhstan and CIS markets in corporate and retail banking, SME and increasing of BTA shares in Kazakhstan market at least up to 25%, at least 2%in Russia, and at least 5% in other countries of presence. In the context of new strategy it is planned to acquire 51% of voting shares from JSC “Temirbank” present shareholders till the end of 2006. For realization of all competitive advantages it is planned to increase till 2015 the assets in Kazakhstan up to $34 billion, capital – $3.8 billion, net profit – $615 million, number of branch offices – 268, employees – 6963 people.
Founded in 1991, OryonBonk is Tajikistan’s largest commercial bank. It offers a broad spectrum of financial products to its customers. According to Tajik central bank, OryonBonk’s issued share capital has amounted, as of March 1, 2007, to 40.7 million somonis.
