KULOB, November 3, 2011, Asia-Plus — The branch of the Tojik Sodirot Bonk in Kulob has temporarily suspended the issue of Russian ruble (RR) remittances.
Ms. Nargis Qurbonova, the deputy head of TSB’s branch in Kulob, says they have suspended issuing RR remittances because the bank now does not have Russian rubles.
According to her, commercial banks previously received foreign currencies from the National Bank of Tajikistan (NBT) but Tajik central bank has sharply raised the interest rate on this transaction and “the commercial banks are currently biding their time.”
Meanwhile, the source in Tajik central banks says that the provision of commercial banks with foreign currencies is not the direct duty of the NBT. “Banks themselves must concern themselves with acquiring necessary money supply,” he stressed.
Tojik Sodirot Bank was established in December 1990 as the Tajik branch of the Vnesh Econom Bank of the former Soviet Union, and it initially specialized in trade and import-export banking. Later this branch was reorganized into a Joint-Stock Commercial Bank “Tajikvnesheconombank”. In June 1999 the bank was renamed and registered as Tojik Sodirot Bonk or TSB.
Headquartered in Dushanbe, TSB has 40 branches in the main cities of Tajikistan and covering all regions of the country.
