DUSHANBE, December 12, Asia-Plus - Tajik-Cypriot JV, the Central Asian Bank (CAB), will have been liquidated by the end of this year, according to the National Bank of Tajikistan (NBT).   

A source at Tajik central bank said that a liquidation commission has been working in the bank since 2004.  “Over the past two years, the bank had to fulfill its obligations on paying money to its clients,” said the source, “If the bank’s assets are not enough to pay the money, the liquidation commission has the right to sell the banks properties to meet clients’ requirements.” 

According to the NBT, at present six banks in the republic are at the stage of liquidation: Somon Bank; East-Credit Bank; Bank Ayom; Tajik-Bahraini JV STB-InvestBonk; Central-Asian Bank and Bank Olimp. 

 At present nine banks operate in Tajikistan: AgroInvestBonk, OryonBonk, SohibkorBonk, Bank Eskhata, AmonatBonk (Tajik savings bank), TojikSodirotBonk, Tajikistan Development Bank (TDB), TajPromBank and First Microfinance Bank.  Additionally, a branch of Iran’s Tejarat Bank and an office of Kazakhstan’s TuranAlemBank also function in the country.