DUSHANBE, January 9, 2014, Asia-Plus — Issues related to state and prospects of further expansion of bilateral cooperation between the National Bank of Tajikistan (NBT) and Commerzbank AG (Germany) were discussed here yesterday at a meeting of the NBT head Abdujabbor Shirinov with Dr. Bodo Thons, the head of Commerzbank AG Representative Office in Almaty (Kazakhstan).
Commerzbank AG reportedly helps Tajik central bank carry out foreign exchange spot and swap transactions.
A foreign exchange spot transaction, also known as FX spot, is an agreement between two parties to buy one currency against selling another currency at an agreed price for settlement on the spot date and a foreign exchange swap, forex swap, or FX swap is a simultaneous purchase and sale of identical amounts of one currency for another with two different value dates (normally spot to forward).
According to the NBT press center, Commerzbank AG has decided to increase the number of products provided to Tajik central bank, including precious metals swaps (a long-term strategy for investing in precious metals based on trading on the gold/silver ratio) and other exchange transactions.
The National Bank of Tajikistan is the central bank of Tajikistan. The Bank is engaged in developing policies to promote financial inclusion and is a member of the Alliance for Financial Inclusion.
Commerzbank AG is a German global banking and financial services company with its headquarters in Frankfurt, Germany. It is the second-largest German bank after Deutsche Bank. Commerzbank is mainly active in commercial bank, retail banking and mortgaging. Commerzbank holds a nationwide network of branch offices throughout Germany and numerous branch offices in the EU and Europe (namely London, Luxembourg, Poland, Spain and Switzerland) and with a leading market share in online banking. The bank holds representations and holdings in various commercial and financial centers in Asia and the Americas. Commerzbank is the second largest lender to shipping companies in Germany.
