DUSHANBE, June 14, Asia-Plus – Experts from India’s Micro-Credit International Ltd have recognized Tajik open joint-stock company (OJSC) Bank Eskhata as reliable and solvent bank, Masrourkhon Ishonov, a leading economist with the Bank Eskhata department for work with financial institutions and documentary operations, said.
According to him, the Micro-Credit International Ltd experts have evaluated risk-rating of the Tajik bank and Eskhata Bank has been recommended to investors as reliable and solvent partner. “Eskhata Bank received mark “alpha minus” (a-) that is equivalent to 7 on a 10-point scale,” Ishonov said.
He stressed that analysis of its financial activity has allowed Eskhata Bank becoming more transparent.
Micro-Credit Ratings International Ltd (M-CRIL)
was established to facilitate the flow of commercial funds into micro-finance through both debt and equity instruments. Over the past year, M-CRIL has emerged as the the world leader in the rating of microfinance institutions (MFIs). By April 2007, M-CRIL has undertaken 422 ratings or assessments covering 246 MFIs in 17 countries of Asia stretching from Russia to Philippines.
Established in November 1993, a privately owned Eskhata Bank, with headquarters in Khujand, has eight branches in various regions of the country. The bank got operating license in 1994. In December 2005, European Bank for Reconstruction and Development (EBRD) took equity in Eskhata Bank that allowed Eskhata to continue to comply with the National Bank of Tajikistan’s minimum capital requirements, which have been revised upwards to $5 million. As of May 1, 2007, a regulative capital of Eskhata Bank has amounted to 23.1 million somonis.
