DUSHANBE, January 25, 2010, Asia-Plus — The National Bank of Tajikistan (NBT) is currently considering applications by a number of foreign banks for opening of their branches and representatives offices in the country, the NBT head Sharif Rahimzoda remarked at a news conference in Dushanbe on January 25.
According to him, Tajikistan’s central bank is currently considering an application by Access Bank that was founded by a number of European countries.
We will recall that AccessBank Tajikistan JSC is a microfinance bank. Operating under a commercial bank license granted by NBT, AccessBank will seek to offer a broad range of financial services to micro, small and medium-sized enterprises in Tajikistan. It is the sponsor’s vision that AccessBank will become the leading microfinance/SME bank in Tajikistan and will set new standards in the country’s banking sector in terms of professionalism, transparency and efficiency. The project will initially focus on providing credit to micro and small businesses (on the basis of a cash flow-oriented credit technology), as well as basic savings and payments services.
Rahimzoda added that NBT had also received applications from the National bank of Pakistan and one of Kuwaiti banks for opening of their branches in Tajikistan. “We are also considering the application by the International Bank of Qatar (IBQ), because this country plans to finance a number of projects in Tajikistan.”
The NBT head noted that foreign legal or physical entities participated directly or indirectly in capitals of practically all commercial banks of the country.
Besides, three banks with only foreign capital now function in Tajikistan: closed joint-stock company (CJSC) Kazkommertzbank-Tajikistan, the branch of Iran’s Tejarat Bank and The First MicroFinance Bank.
According to Tajik central bank, 13 banks, 7 non-bank loan organizations, 31 microfinance deposit organizations, 42 microloaning organizations and 43 microloaning funds now function in Tajikistan.
