DUSHANBE, December 13, 2013, Asia-Plus – Top managers of the National Bank of Tajikistan (NBT) on December 12 met with heads of local microfinance organizations to discuss the current state of Tajik microfinance organizations, according to the NBT press center.

During the meeting, representatives of Tajik central bank reportedly noted that the number of deposits has increased at microfinance organizations and they have expanded their activities in recent years.

Last year, international financial institutions highly appraised activities of some microfinance organizations in Tajikistan.

The NBT representatives, however, noted that despite progress made by local microfinance organizations not all savings attraction opportunities have been used by the microfinance organizations.  Besides, there are microfinance organizations that do not submit their financial accounts in proper time, the NBT representatives noted.

Tajik central bank representatives also recommended heads of local microfinance organization to reduce loan interest rates and provide transparency of their activities, the NBT press center said.

According to Tajik central bank’s press center, 118 microfinance organizations now operate in Tajikistan.