National Bank of Tajikistan to raise its authorized capital 25 times

By  Trend

The authorized capital of the National Bank of Tajikistan will increase from 20 million somoni to 500 million somoni, Asia-plus reports.

The lower chamber of the Parliament approved relevant amendments to the law "On the National Bank of Tajikistan" on May 25.

Presenting the draft amendments, the Chairman of NBT Jamshed Nurmakhmadzoda noted that changes are suggested "to ensure the adequacy of capital to promote effective monetary policy".

"Taking into account the increase in the property of the National Bank of Tajikistan, it is planned to establish the size of the authorized capital in the amount of 500 million somoni," he said.

Nurmakhmadzoda believes that the definition of the share capital at this level will contribute to the growth of reserves of the regulator and will ensure fulfillment of the state obligations.

He added that the current authorized capital of the NBT in the amount of 20 million somoni was established in 2002.

According to the law of the Republic of Tajikistan "On National Bank of Tajikistan", the authorized capital can be increased by the decision of the NBT Board with the consent of the President of the Republic and with the subsequent approval of the lower chamber of the Parliament.

The authorized capital of the National Bank is formed through sources that are transferred to the disposal of the National Bank: fixed assets, deductions from the net income received by the National Bank, and funds allocated from the national budget.