DUSHANBE, July 25, Asia-Plus -- Branches of open joint-stock company (OJSC) TojikSodirotBonk (TSB) in Khujand (Sughd) and Qurghon Teppa (Khatlon) have introduced new service to their customers – travel loan.   

According to TSB’s press service, the head office TSB in Dushanbe in cooperation with Russia’s commercial bank Russlavbank has offered travel loan services since last May and to date, 35 Tajik nationals have got benefit from this service.  “They have received totaling $20,000 in travel loans,” the source said.  

The travel loan services are intended for labor migrants leaving Tajikistan for Russia seeking better employment opportunities with further repayment of the travel loan in the territory of the Russian Federation through the money transfer system Contact over a predetermined period. 

“They will sign a promissory note stating that they will repay the loan in the Russian Federation over six months after receiving the loan,” said the source, “The maximum amount of the travel loan is $800 and it carries an annual interest rate of 25 percent.”     

 TSB was established in December 1990 as the Tajik branch of the Vnesh Econom Bank of the former Soviet Union, and it initially specialized in trade and import-export banking.  Later this branch was reorganized into a Joint-Stock Commercial Bank “Tajikvnesheconombank”. In June 1999 the bank was renamed and registered as TojikSodirotBonk or TSB.

Headquartered in Dushanbe, TSB has 9 branches in the main cities of Tajikistan and covering all regions of the country. Its clients include the biggest Tajik trading companies, other enterprises, entrepreneurs, and some of the embassies and diplomatic organizations based in Dushanbe.