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Tajikistan liquidates long-struggling banks

Tajikistan liquidates long-struggling banks
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Tajikistan: Long-struggling banks finally liquidated

Tajikistan: Long-struggling banks finally liquidated
25 May 2021, 00:49 GMT+10
Two major banks in Tajikistan, both once considered too big to fail, have been liquidated at the orders of the authorities.
The National Bank of Tajikistan, or NBT, said in a statement last week that Agroinvestbank and Tojiksodirotbank, which have been teetering on the verge of collapse for around half a decade, have been wound down because restructuring and recapitalization efforts did nothing to improve their financial situation.
When the condition of the two lenders became clear in 2016, the government stopped at little to save them. In December that year, parliament approved a decree to issue bonds worth around half a billion dollars with which to recapitalize Agroinvestbank and Tojiksodirotbank, along with two other distressed banks: Fononbank and Tojprombank. This amounted in effect to printing that amount of cash in somoni, the local currency. ....

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