Home » Declared Bankrupt Tajik Bank Owes More Than $2 Million to Depositors
Asia Central Asia Economy Featured Global News News Tajikistan

Declared Bankrupt Tajik Bank Owes More Than $2 Million to Depositors

The Dushanbe Economic Court declared Tajprombank bankrupt. This is reported by “Asia-Plus” with reference to the chairman of the Supreme Economic Court of Tajikistan Rustam Mirzozoda.

Firuz Sharipov, special administrator of the National Bank of Tajikistan and liquidator of Tajprombank, told the publication that 169 depositors of the bankrupt credit institution still have not received a total of 26.6 million somoni ($2.37 million) from it.

Meanwhile, at a press conference in February this year, Rustam Mirzozoda said that Tajprombank was instructed to fulfill its obligations until June 2023. He noted that 246 people have claims against Tajprombank, the bank’s debts amount to 37 million somoni ($3.38 million).
Judge of the Economic Court of Dushanbe Zulfiya Saidzoda, who signed the decision on the bankruptcy of Tajprombank on August 1, stated that the bankruptcy case of this credit institution was considered for about seven years, starting from March 3, 2017, and during this period 5726 people were able to return their savings to the general more than 148 million somoni ($13.5 million).

As a result of the banking crisis of 2016, four Tajik banks — Fononbank, Tojiksodirotbank, Agroinvestbank and Tajprombank — faced a liquidity problem. The National Bank of Tajikistan revoked the licenses of these credit institutions and began bankruptcy procedures. The depositors of these banks have been complaining for years through social networks and the media that they cannot get their money back, and the special managers and liquidators of the National Bank of Tajikistan are unable to solve their problem.

The property of Tajprombank was valued at 450 million somoni ($41 million) in 2016, and the total amount of its liabilities was about 550 million somoni ($50.3 million).

In December 2020, the Sino District Court of Dushanbe found Jamshed Ziyaev, former chairman of Tajprombank, guilty under four articles of the Criminal Code, including “embezzlement” and “fraud,” and sentenced him to 8.5 years in prison.

Source: Fergana Agency