DUSHANBE, February 19, Asia-Plus - Total amount of initial capital (National Bank of Tajikistan’s minimum capital requirements) of all institutions of Tajikistan’s banking system has exceeded 210 million somonis (equivalent to more than $61 million) as of January 1, 2007, according to the National bank of Tajikistan (NBT).  

In January 2006, Tajik central bank’s minimum capital requirements for banks were revised upwards to $5 million and the minimum capital requirements for crediting organizations were set at $300,000. 

A source at Tajik central bank said that from October 1,2006 to January 1, 2007, a total amount of initial capital of Tajik financial institutions increased by 17.8 million somonis due to revaluation of the initial capital on foreign currency of TojikSodirotBonk (TSB) and establishment of another two financial institutions in Tajikistan – Bonki Rushdi Tojikiston (Tajikistan Development Bank or TDB) and crediting organization Vaslat.  

The source added that in all, regulative capital of 10 banks (eight Tajik banks, the First MicroFinance Bank and a branch of Iran’s Tejarat Bank) operating in Tajikistan makes 322.5 million somonis.  The regulative capital of OryonBonk is 72.9 million somonis ($20.9 million), the regulative capital of AgroInvestBonk amounts to 54.5 million somonis ($15.7 million) and the regulative capital of TSB is 47.7 million somonis ($13.6 million).  All operating banks comply with the NBT’s minimum capital requirements  

In the meantime, of eight crediting organizations functioning in Tajikistan, only six have to date complied with central bank’s minimum capital requirements: Fonon; Dehqon; Ganjina; Capital+; TRAST and Kafolat.  Two other crediting organizations, Financing of Trade and Renaissance-Capital, have failed to comply with the minimum regulative capital requirements.  

At present nine banks operate in Tajikistan: AgroInvestBonk, OryonBonk, SohibkorBonk, Bank Eskhata, AmonatBonk (Tajik savings bank), TojikSodirotBonk, Tajikistan Development Bank (TDB), TajPromBank and the First MicroFinance Bank.  Additionally, a branch of Iran’s Tejarat Bank and an office of Kazakhstan’s TuranAlemBank also function in the country.

Besides, five mcirocredit deposit organizations, 20 microlending organizations and 30 microloan funds now operate in the country.