DUSHANBE, September 7, 2011, Asia-Plus -- A new bank – Kont Bank Investment – will begin its work in Tajikistan in the near future.

According to the National Bank of Tajikistan (NBT), the bank was established on the basis of non-banking financial institution, CJSC Arzish.

“CJSC Arzish has been reorganized into investment bank and the founder of the new bank is Turkish company, Kont Kozmetik ve Dis Tijarat Limited,” said the source.  “Kont Bank Investment complies with Tajik central bank’s minimum capital requirements as its authorized capital amounts to 50 million somoni.”

Fourteen incorporated banks, one state-owned bank and three branches of foreign banks now function in Tajikistan.

Under minimum capital requirements set by the National Bank of Tajikistan, the minimum regulative capital of operating bank in the national currency must amount to 30 million somoni and the minimum regulative capital of the newly established bank must be 50 million somoni.

As of July 1, 2011, a share of foreign capital in a total authorized capital of Tajikistan’s banking system amounted to 310,957,225 somoni, which is 40,535,710 somoni more as compared to January 1, 2011.