Asia-Plus has conducted a survey to find out which banks are trusted more in Tajikistan.
Online survey was launched on December 4 and lasted until December 9. More than 6,000 persons were surveyed and more than a half of those surveyed voted for the Tajik youngest bank, which has operated as commercial bank for only half a year – Alif Bank.
2,621 people (43.5 percent of those surveyed) have voted for this bank
Open Joint-Stock Company (OJSC) Alif Bank was established was established on the basis of the microcredit organization Alif Sarmoya (Alif Capital), at the origins of which were three young people – Abdullo Qurbonov, Zuhursho Rahmatulloyev and Firdavs Mirzoyev.
The full package of shares belongs to Joint Stock Company (JSC) Alif Capital Holdings Limited. The authorized capital of the bank amounts to 50 million somonis.
Alif Bank is considered one of the leading fintech companies in the country and is the leader in the market of financing POS (Point-of-Sale) with using cards in installments and overdrafts without commission. The bank has an online B2C platform (alif shop) and alif.mobi mobile wallet for cashless payments and transfers.
Alif Bank was the first representative of Tajikistan at the Entrepreneurship World Cup and entered the Top-100 among more than 175,000 participants.
Alif Bank is followed by Bank Eskhata and Bank Arvand, which are headquartered in the northern Sughd province.
Bank Eskhata took the second place with 2,301 votes (35 percent of those surveyed).
Established in 1994, Bank Eskhata is Tajikistan’s third largest bank by assets. According to the National Bank of Tajikistan (NBT), its assets amount to more than 2 billion somonis. The main shareholders of Bank Eskhata are physical residents of Tajikistan A. D. Nosirov and H.D. Nosirov as well as the European Bank for Development and Reconstruction (EBRD), and with a particular focus on SME financing and support.
Bank Arvand is In the third place — 8 percent of those surveyed voted for this bank.
Closed Joint-Stock Company (CJSC) Bank Arvand was granted operating license on September 30, 2019. The bank was established by merging two credit institutions: AccessBank Tajikistan and microcredit deposit organization Arvand LLC. The bank’s authorized capital amounts to 53.6 million somonis. More than 73 percent of shares of Bank Arvand are owned by European funds that contributes to the bank's compliance with international standards of work. As of October 1, 2020, Bank Arvand’s loan portfolio has amounted to nearly 40 million U.S. dollars. Almost 40,000 people have reportedly used these funds.
Another bank with foreign capital has come relatively close to the top three winners – The First MicroFinanceBank of Tajikistan (FMFB-T). 4.6 percent of those surveyed voted for this bank.
Meanwhile, two backbone banks of the country – Amonatbonk (Tajikistan’s savings bank) and privately-owned Orienbonk – have received unexpectedly few votes – 29 votes each. Assets of Amonatbonk amount to 4.2 billion somonis and assets of Orienbonk amount to 3.1 billion somonis.
4 percent of those surveyed (224 people) said they that they don't trust any bank in the country.
