, April 18, Asia-Plus - The Board of the National bank of Tajikistan (NBT) has passed a resolution revoking license of the closed joint-stock company (CJSC) “STB-Investbank” for banking transactions.  

According to information from Tajikistan ’s central bank, such a decision has been made because “STB-Investbank” has not met requirements of the country’s banking legislation.  

“Besides, SBT-Investbank” last year finished its activity at a loss, failing to form the minimal authorized capital determined at 14,850,000 Somonis (equivalent to US$5 million),” said the NBT source, “In this connection, the NBT revoked its licenses for banking transactions both in foreign and local currencies under Article 26 of the RT Law “On Banks and banking Activity” and Articles 36 and 48 of the RT Law ”On the National Bank of Tajikistan.“  

According to information posted on the NBT website, 11 banks, a branch of one foreign bank, seven credit societies and seven non-bank financial organizations have operated in Tajikistan as of january1 2006.