Former chairman and part owner of Closed Joint-Stock Company Tajprombank (Tajik Joint-Stock Commercial Industrial Bank for Reconstruction and Development), Jamshed Ziyayev has been reinstated.
Like the head of Tojik Sodirot Bonk (TSB) Tojiddin Pirov, Jamshed Ziyayev was also given a monthly period to improve the financial situation in Tajprombank.
Recall, the Board of the National Bank of Tajikistan (NBT) on December 13 gave heads of both commercial banks a monthly period to draw a plan to improve the financial situation in their banks.
Jamshed Ziyayev was squeezed out of CJSC Tajprombank in early May and the temporary crisis administration was appointed for the bank on May 3 this year for the period of three months. On August 3, the NBT extended the terms of powers of the crisis administration for another three months.
Meanwhile, some media outlets report that the government has earmarked more than 3 billion somoni to bail out four commercial banks.
2 billion somoni have been provided to TSB and the government now owns an 80 percent stake in this bank.
1.2 billion somoni will be provided to Agroinvestbonk and the remaining funds will be divided between Fononbank and Tajprombank.
Founded in October 1995, Tajprombank, with headquarters in Dushanbe, has 21 branches, 11 departments and 15 money-transfer offices across the country.
