In recent years, there has been a growth in the number of loans issued in Tajikistan. Banks and microfinance organizations offer various programs — from consumer loans to business credits. But what are the most common reasons people in the country borrow money?
Jafar (name changed), a resident of the northern city of Panjakent, regularly uses banking services. Mostly, he takes consumer loans for small amounts. The last time, he needed a loan to hold his daughter’s wedding.
“As you know, weddings are expensive, and with our family income, it’s hard to cover everything. I heard from neighbors that banks offer loans for weddings and decided to take advantage of this opportunity. Though, we took a small amount to make repayment easier later,” he says.
According to him, this practice is quite common: many families take loans specifically for celebrations because their own funds are often not enough for lavish Tajik "maraka" (feasts).
Mehrona (name changed), a resident of Dushanbe, prefers installment plans, mainly for buying household appliances and furniture. She uses the “Salom” card from Alif Bank, which she finds convenient for people who live “from paycheck to paycheck.” And, in her opinion, most people fall into this category.
“It’s very hard to buy, say, a table and chairs for 4000 somonis at once if you earn exactly that much. So we often use installment plans. It’s really convenient. The main thing is to choose the right time: when the bank has promotions and the stores have discounts. Otherwise, the purchase may become too expensive,” she shares.
To understand the main purposes for which Tajikistanis take loans, Asia-Plus contacted several major banks in the country.
According to Dushanbe City Bank, borrowers most often take loans for apartment or car repairs and for holding wedding celebrations.
At Humo Bank, consumer loans are also most commonly requested — for buying and repairing apartments, paying for education, buying cars or household appliances, organizing weddings, and for medical examinations and treatment.
Most customers of Alif Bank prefer installment plans to purchase smartphones, household appliances, and electronics — these categories remain the most in demand.
But there are also more everyday needs — Tajikistanis often take loans to buy food and clothing. Most installment plans are made using the Salom card.
Loans for more significant amounts are also popular at Alif Bank — for buying cars or even for business development.
In which region of Tajikistan are the most loans taken?
According to statistical data from the National Bank of Tajikistan (NBT), last year financial organizations issued loans totaling over 2.445 billion somonis. This is almost 434 million somonis more than in 2023.
About 1.5 billion somonis of this amount has already been repaid by borrowers to the banks.
Last year, Tajikistanis borrowed the most money for the agricultural sector — just over 129 billion somonis. Second place goes to industry: citizens took about 1.8 billion somonis for the development and expansion of their production. And third is repair and construction — more than 55 million somonis.
Interestingly, loans for transportation also take a significant share in this statistic: Tajikistanis received loans totaling more than 5 million somonis for buying personal vehicles. However, this is almost 6.5 million somonis less than in 2023.
Looking by region, last year the most loans were issued to residents of Sughd province — about 783 million somonis. Second place is Khatlon province, with loans totaling nearly 570 million somonis; districts subordinate to the center (Rasht Valley in eastern Tajikistan – 375 million somonis.
The fewest loans were taken by residents of the Gorno Badakhshan Autonomous Region, or GBAO — about 29 million somonis.
