Closed Joint-Stock Company (CJSC) Halyk Bank Tajikistan informed its partners on November 3 that it has decided to suspend servicing lending agencies of Tajikistan on correspondent accounts beginning on December 1, 2022.
Joint-Stock Company (JSC) Halyk Bank has reportedly decided to suspend operations of its subsidiary in Tajikistan in connection with internal bank audits (inspection by the head office of subsidiaries) under conditions of current geopolitical situation (Russian-Ukrainian conflict) and sanction pressure of the West on Russia’s banking sector.
Alisher Dodojonov, Director of CJSC Halyk Bank Tajikistan, says the decision to suspend the interbank service has bene made on the basis of JSC Halyk bank internal policy and due to restrictions imposed by its correspondent banks.
Meanwhile, servicing current customers of the Bank, including transfer of funds of physical and legal entities, is carried out in a regular mode, Dodojonov added.
The Bank partners, including Alif Bank and Dushanbe City, will not be able to use the services of correspondent bank accounts, that is starting from December 1, partner banks will not be able to transfer money to other accounts through CJSC Halyk Bank Tajikistan.
It is not reported for how long the bank suspends this service.
Recall, Halyk Bank of Kazakhstan announced the voluntary liquidation of its subsidiary bank in Tajikistan, Halyk Bank Tajikistan, back in early August last year. It was noted at the time that the decision on the voluntary liquidation of the subsidiary bank in Tajikistan was made "on the basis of a comprehensive analysis of the activities and development prospects of the subsidiary bank."
The decision to leave the Tajik market was justified by decision to "concentrate resources and focus the efforts of the Halyk Group on highly efficient and profitable projects with great potential for further growth."
The message said that the share of Halyk Bank Tajikistan in the assets of the Halyk Group at the beginning of April last year was only 0.03%.
Recall, CJSC Kazkommertsbank Tajikistan was renamed CJSC Halyk Bank Tajikistan after JSC Halyk Bank, a commercial savings bank in Kazakhstan, merged with JSC Kazkommertsbank.
CJSC Halyk Bank Tajikistan was granted a license to carry out transactions in national and foreign currencies on July 1, 2019,.
JSC Halyk Bank and JSC Kazkommertsbank signed the Transfer Act on July 28, 2018. The execution of the Transfer Act completes the assumption by Halyk Bank of all property, rights and obligations of Kazkommertsbank as a result of voluntary reorganization of Halyk Bank and Kazkommertsbank in the form of Kazkommertsbank's merger into Halyk Bank.
Halyk Bank is the legal successor of the Soviet-era Sberbank (savings bank) in Kazakhstan, analogous to Sberbank in Russia. Its full Kazakh name translates into English as “National Savings Bank of Kazakhstan.” A member of the Halyk Group, it is headquartered in the city of Almaty.
Halyk Bank is the leading credit institution in Kazakhstan, which also operates in CIS countries – Georgia, Kyrgyzstan, Russia and Uzbekistan. The Bank has the largest customer base and branch network in Kazakhstan.
