Restructuring with subsequent privatization of Amonatbonk (state-owned savings bank of Tajikistan) depends on the will of the government, Amonatbonk head Sirojiddin Ikromi told reporters in Dushanbe on February 7.
According to him, he is sympathetic to the proposal of international financial institutions to establish a joint-stock company on the basis of Amonatbonk with the subsequent transfer of a controlling stake in private hands.
“Partners for development turned to the Government of Tajikistan with such a proposal last year,” Ikromi said, noting that those institutions prefer private sector to do business, while the state must create the necessary conditions for business.
He emphasized the importance of Amonatbonk for the country’s financial market because it has a wide developed network throughout the country.
Ikromi also noted a significant share of this bank in the financial intermediation market of the country.
Amonatbonk is the only state-owned bank. Established in 1925, it is one of the oldest banks in Tajikistan and one of the largest based upon various criteria – including the number of branches and the number of served clients. The institution is unique in its orientation towards implementing social, pension and other state programs. Amonatbonk has 5 regional centers, 69 branches and more than 500 agencies. This gives the institution a presence in the most remote mountainous parts of the country.
