Customers of the Tojiksodirotbonk (TSB)’s branch in Bokhtar, the capital of the Khatlon province, have released an open letter to the president asking to help with returning their savings.
They note that it is already two years that they cannot withdraw their savings from the banks. Moreover, they opened banking accounts, while the bank is paying them in somoni, up to 200 somoni twice a week.
According to them, they have applied to court but it has been no use.
Recall, four local commercial banks, including TSB, have been experiencing liquidity issues since 2015. Parliament in December 2016 approved a government decree to issue bonds to recapitalize the mentioned banks. TSB and Agroinvestbonk were topped up by 2.25 billion somoni (US$284 million) and 1.7 billion somoni (US$215 million) respectively.
TSB 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 Tojiksodirotbonk or TSB.
Headquartered in Dushanbe, TSB has 11 branches in the main cities of Tajikistan and covering all regions of the country.
