DUSHANBE, February 21, Asia-Plus - The National Bank of Tajikistan (NBT) strongly recommends the branch of Iran’s Tejarat Bank in Tajikistan to start providing crediting services.  

A source at Tajik central bank said that Tejarat’s branch established in Dushanbe in 1995 has a license for crediting operations but for some reasons it has not provided loans so far.  

“Representatives from the bank have justified that by saying that over the past years, Iranian experts have studied Tajik market and they intend to introduce new products gradually,” the source said.  

“At the last meeting of the balance commission, when Tejarat’s branch submitted report on the results of it activity in 2006, the NBT recommended it to start crediting operations,” said the source, “Otherwise, it will revoke it license for crediting operations.”  

The source added that if Tejarat’s branch intends to introduce crediting this year it should increase its deposit basis. 

 According to him, Tejarat’s branch in Dushanbe offers banking services not in so large scale “because it mainly works with Iranian and foreign clients.” 

Bank Tejarat was established as per Legal Bill of Department of Banks Affairs approved in September 1979 upon amalgamation of eleven private banks that became twelve banks by joining Iran-Russia Bank. 

Tejarat Bank comprises of the merger of:   Private Iranian Banks: Commercial Bank of Iran, Bank Kar, Bank Iranshahr, Iranian Industries Bank, and Shahriar.  Multinational Banks: Iran-Middle East Bank, Iran-England Bank, Iranian Facilities Bank, Bank-e-Iranian, Iran-Japan Bank, Iran-India Bank.  Foreign Banks: Iran-Russia Bank.

Tejarat Bank is now maintaining 2010 branches throughout Iran.