DUSHANBE, January 31, Asia-Plus  - A total capital of Tajikistan’s banks rose 87 percent in the year to December 31, 2007, reaching 650 million somonis (equivalent to some $187.5 million), Touraqul Haqnazarov, the head of bank supervision and licensing department of the National bank of Tajikistan (NBT).

In 2006, the total capital of Tajik bank amounted to 347 million somonis (equivalent to some $100,000), Tajik central bank official said.

“The total banks’ capital is expected to increase even more this year due to issuing additional shares and received profits,” said Haqnazarov, “To date, a segment of market, covered by banks, has increased and number of products offered by banks has increased as well.  All this promote strengthening of a system of insurance of deposits.”      

At present nine banks operate in Tajikistan: Agroinvestbonk, Orienbonk, SohibkorBonk, Bank Eskhata, Amonatbonk (Tajik savings bank), Tojiksodirotbonk (TSB), Tajikistan Development Bank (TDB), TajPromBank and The First MicroFinance Bank.  Additionally, branches of Iran’s Tejarat Bank and Kazakhstan’s Kazkomertzbank also function in the country.