DUSHANBE, July 19, 2016, Asia-Plus -- Spitamen Bank has announced a cut in interest rates on all types of loans.

On July 18, Closed Joint-Stock Company (CJSC) Spitamen bank has issued loans with lower interest rates.  The First Deputy Chairman of the Board of Spitamen Bank Umejon Hikmatov says this is done in order to support its customers in the period when the economy is going through hard times.

“The principle of operation of the Bank is reportedly based on building long-term partnerships with our customers.  That is why the Bank decided to lower its interest rates on all types of loans, at a time when customers are most in need,” Hikmatov said.

“The lion''s share of our customers belongs to businesses. It is they who, throughout the world, are considered "drivers" of the economy and Tajikistan is no exception.  Management of the Bank truly believes in the fact that it is practical action, such as an increase in capacity of businesses to available credit resources and financing can strengthen and increase the entrepreneurial potential of the country.  CJSC Spitamen Bank in the future will also be seeking to improve customer service, and improve the conditions of its banking products,” Hikmatov added.

Spitamen Bank is a bank operating nationwide in Tajikistan, under license from National Bank of Tajikistan (NBT).

Spitamen Bank started its Microcredit Deposit Organization in the country as Spitamen Capital in 2008 leading to a banking license from the National Bank by 2014.  The company holds the license for banking operations in both local and foreign currency.