DUSHANBE, January 9, 2014, Asia-Plus -- The Bank of Tokyo-Mitsubishi UFJ, Ltd intends to establish cooperation with the National bank of Tajikistan (NBT) on the placement of NBT’s currency accounts and development of correspondent business, according to the NBT press center.

Such a cooperation will give Tajik central bank an opportunity to expand further its geographical coverage and diversify the placement of currency accounts.

For Tajikistan, this means that one of world’s largest banks will serve the country’s economy, the NBT press center said, noting that an agreement on cooperation with the Bank of Tokyo-Mitsubishi UFJ, Ltd will be signed in the near future.

Tajik central bank now places its currency accounts at the following banks: Federal Reserve Bank (United States); VTB (Russia); Commerzbank AG (Germany); Deutsche Bank (Germany); Mezhgosbank (Russia); etc.

The National Bank of Tajikistan is the central bank of Tajikistan.  The Bank is engaged in developing policies to promote financial inclusion and is a member of the Alliance for Financial Inclusion.

Established on January 1, 2006, with the merger of the Bank of Tokyo-Mitsubishi, Ltd and UFJ Bank Ltd, the Bank of Tokyo-Mitsubishi UFJ, Ltd is the largest bank in Japan.  The bank serves as the core retail and commercial banking arm of the Mitsubishi UFJ Financial Group.  Its traditional client base is made up of Japanese corporates, however, overseas corporate lending increased 35% in 2011.