A new head of the Board of the Closed Joint-Stock Company (CJSC) Spitamen Bank has been appointed, Bank Eskhata is next.
A 26-year-old Navrouz Samandarzoda has been appointed acting chairman of CJSC Spitamen Bank Board, replacing Niyozmurod Saidmurodov.
Meanwhile, a source in Bank Eskhata says the bank head Khurshed Nosirov will perform his duties until the end of January and after that he will be replaced with another person.
The replacement of the head of the bank is the demand of the Council of Supervisors of Bank Eskhata, the source added.
Spitamen Bank is a bank operating nationwide in Tajikistan, under license from National Bank of Tajikistan.
Spitamen Bank started its activity as Microcredit Deposit Organization (MDO) Spitamen Capital in 2008. Spitamen Capital was upgraded into a fully-fledged commercial bank as Spitamen Bank by 2014. It received a banking license from the National Bank of Tajikistan (NBT) on January 3, 2014. The bank holds the license for banking operations in both local and foreign currency. The founder of CSJC Spitamen Bank is the insurance company Spitamen Sughurta, which was established in 2009.
Established in November 1993, Bank Eskhata, with headquarters in Khujand, the capital of the Sughd province, has twenty-two branches and 302 banking service centers in various regions of the country. The bank got operating license in 1994. The European Bank for Reconstruction and Development (EBRD) is a shareholder (11.8 percent) in Banks Eskhata since 2005. In December 2005, the European Bank for Reconstruction and Development (EBRD) took equity in Eskhata Bank that allowed Bank Eskhata to continue to comply with the National Bank of Tajikistan’s minimum capital requirements. Bank Eskhata is considered the fifth largest bank in Tajikistan (by assets) and enjoys a dominant position in terms of branch coverage and number of clients in the north of the country. It is the leading semi-private Tajik bank dedicated to micro, small and medium enterprises (MSMEs).
