The Tajik authorities have decided to determine the real cost of properties of troubled banks that has been put on auction.
A special commission has been set up to assess the actual of cost of properties put by the troubled banks on auction, according to the National Bank of Tajikistan (NBT).
An official source at the NBT says the commission members include representatives of relevant ministers and agencies.
The commission will assess the actual of cost of properties of the Tojiksodirotbonk (TSB), Agroinvestbonk as well as the now-liquidated Tajprombank and Fononbank.
“After that the properties will be put on auction so that the banks will be able to return depositors’ money,” the source said.
It is to be noted that customers at the troubled banks insisted on determining the actual cost of their property the troubles, because they consider the properties have been put on auction at higher prices.
Recall, these four commercial banks have been experiencing serious liquidity issues since 2015. Parliament in December 2016 approved a government decree to issue bonds to recapitalize the mentioned banks.
TSB reportedly got 2.25 billion somoni ($285 million at end of 2016 exchange rates) and Agroinvestbonk 1.7 billion somoni ($215 million). Tajprombank was promised 450 million somoni ($56 million) and Fononbank a relatively meager 80 million somoni ($10 million).
On February 24, 2017, Tajik central bank announced it was pulling the licenses of Tajprombank and Fononbank.
The list of assets of the troubled banks was published by the government two year ago.
Assets on TSB’s books reportedly include the bank headquarters in Dushanbe, 43 branches across the country, Closed Joint Stock Company (CJSC) Dushanbe Mall (Tajikistan’s largest shopping mall, which is home to the country's first ever hypermarket to be part of the French Auchan chain), Tajikistan Hotel in Dushanbe, eight nine-story apartment buildings in Danghara district (Khatlon province), spinning mills in Danghara and Farkhor districts (Khatlon province), cotton ginneries in Khatlon province, and auto-repair enterprise.
Agroinvestbonk reportedly holds more than 730 items located in various regions of the country, including the bank headquarters in Dushanbe, main branches in Khorog, Khujand, Kulob and Bokhtar (formerly Qurghon Teppa), 60 other branches across the country and five service centers. Besides, the bank possesses resort zones in Varzob district, small enterprises, farming units, shopping centers, shops, cafes, drugstores, refueling stations, service stations, warehouses, consumer service centers, and many apartments and residential buildings.
Assets on Tajprombank’s books include dozens of offices and an unspecified number of residential properties.
Meanwhile, Fononbank reportedly 37 items, including a main office, four branch offices, multiple residential properties and unspecified number of small enterprises and shops.
