Tajik National University

Faculty of Law
Department of Entrepreneurial and Commercial Law

Topic : Representative & Branch

of Foreign Banks
Done by: Bilolov Azizullo.
Scientific Supervisor : Zuhurova S.
 Banking legislation
 Banking legislation – sphere of the legislation of the Republic of Tajikistan
representing the system of legislative and normative acts regulating banking
activities. The basis of banking legislation of the Republic of Tajikistan is Law
“On the National Bank of Tajikistan” and Law “On banks and banking
activities”.

 The Law “On the National Bank of Tajikistan” determines the legal status of the
National Bank of Tajikistan, principles of its structure, main tasks and functions,
interaction with government authorities, aim and main instruments of monetary
policy, principles and means of banking regulation and control, order of
reorganization and liquidation of credit institutions, organization of money
circulation and settlements, other functions and authorities of the National Bank
of Tajikistan.
 There are stipulated in the Law “On banks and banking activity”: meaning of
bank and non-banking financial institutions and also banking system of the
Republic of Tajikistan, list of banking operations, principles of interrelationships
of banks with customers and government, order of bank establishment,
registration and licensing of its activity (including banks with share of foreign
capital), reasons to withdraw license for banking operations, meaning “banking
secrecy”, principles of accounting and reporting, order of audit inspection. Legal
regulation of banking activity also is carried out on the base of the Civil Code of
the Republic of Tajikistan, other laws and normative acts of the National Bank of
Tajikistan. At present normative acts of the National Bank of Tajikistan on order
of bank registration and licensing of banking activity, stipulating required
standards for their activity and application of sanctions to banks in case of
violation of requirements of banking legislation by them including order of
licenses withdrawal, order of non-cash settlements and regulating other issues of
banking activities in the Republic of Tajikistan are approved and are in force.
 Bank
1. The national bank of Tajikistan can grant permission to foreign bank for opening of
branch in the Republic of Tajikistan for the purpose of implementation of banking
activity.
2. The request for receipt of permission is submitted to National bank of Tajikistan in
writing by foreign bank in a state language with the application of the following
documents:
 – the decision of foreign bank on creation of branch in the Republic of Tajikistan,
registration documents with indication of the location of foreign bank and its created
branch;
 – the reference with indication of a surname, a name, a middle name, nationality,
nationality, the permanent residence, activities or a profession, extent of education,
the detailed information about length of service on each leading employee;
 – copy of the document on availability of the higher economic education of the
leading employee;
 – the copy of the last three annual financial reports of foreign bank with an audit
opinion;
 – the list of shareholders and final beneficiaries of shareholders of
foreign bank with indication of the location, the number of shares
and the copy of the document on registration of shareholders;
 – the written declaration of the leading employee on lack of criminal
record, bankruptcy, restriction in professional activity;
 – the business plan providing the business purposes and types of
activity, the description of an organizational structure and the
internal control system including adequate measures on fight
against legalization of income gained in the criminal way and
terrorism financings and also the forecast of balance sheet
accounts, incomes and expenditure accounts and money turnovers
within the next years of activities;
 – location information of branch;
 – document on payment of collection for consideration of the
request;
 – a written consent of foreign banking supervisor authority of that
country in which the foreign bank, about creation of branch in the
Republic of Tajikistan and implementation of the consolidated
banking supervision behind activities of foreign bank is created;
 – guarantees of the supreme body of management of foreign bank on
allocation of necessary means for accomplishment of the liabilities
of branch following from the banking activities provided in the
license. The currency type and the storage location of the amount of
such guarantee is determined by National bank of Tajikistan.
3. The national bank of Tajikistan if necessary, can establish the
additional list of the documents which aren't provided by a part of the
second this article.
CJSC “Kazkommertsbank
Tajikistan"
 At the moment CJSC Kazkommertsbank Tajikistan is one youngest and progressive banks in the
territory of the Republic of Tajikistan.

 CJSC Kazkommertsbank Tajikistan is subsidiary bank JSC Kazkommertsbank - one of the largest
banks in the territory of the CIS.
 Founded in 1991, Kazkommertsbank is the largest private financial institution of Kazakhstan by
the size of assets, a loan portfolio, net profit and general deposits now.

 According to the development strategy of Bank and the solution of the Board of directors of JSC
Kazkommertsbank of August 28, 2006 the decision about opening of Representative office of JSC
Kazkommertsbank in the Republic of Tajikistan was made.

 On October 10, 2006 JSC Kazkommertsbank opened the representation in the Republic of
Tajikistan.

 Having considered activities, Representative office of JSC Kazkommertsbank in the Republic of

Tajikistan on May 29, 2007 on the next Board of directors of JSC Kazkommertsbank a
management of Bank the decision on creation of subsidiary Bank CJSC Kazkommertsbank
Tajikistan in the Republic of Tajikistan was made.
 On October 30, 2007 the Representative office of CJSC Kazkommertsbank
Tajikistan underwent the State registration in the Ministry of Justice of RT.

 On January 24, 2008 CJSC Kazkommertsbank Tajikistan obtained the License of

National Bank of Tajikistan for banking operations.

 On August 28, 2008 CJSC Kazkommertsbank Tajikistan became the member of

the International payment system of Visa Int. in the status of the Principal.

 September 25, 2008 Registration of the first issue of securities of CJSC

Kazkommertsbank Tajikistan by the Ministry of Finance.

 April 06, 2010 The Resolution of National Bank of the Republic of Tajikistan
about opening of CJSC Kazkommertsbank Tajikistan branch in the city of
Khujand, is received.
 On October 12, 2016 for the purpose of provision of high-quality and available
services to the population of the Republic of Tajikistan, KAZKOM opened
doors of the first branded Centers of bank servicing in the Sughd region. New
CBS are located to Khujand, cities of Buston and Spitamen. A bit later, at the
beginning of 2017 additional departments in Dushanbe and Gissare cities were
open. In CBS services only for physical persons, in particular money transfers
without opening of the account (Western Union, Золотая Корона, Unistream,
Contact, Faster and Intel Express) opening and maintaining deposit and current
accounts, bank payment cards, currency exchange and so forth are provided.

 In 2016 for the purpose of expansion of a line of the provided services of CJSC
Kazkommertsbank Tajikistan initiated the procedure to connection to the
International payment system of "MasterCard". On November 18, 2016 the
Bank became the member International payment system of "MasterCard" in the
status the Principal.
 OJSC "National Bank of Pakistan", Islamic
Republic of Pakistan
Ikbol Muhammad
 Chairman:
Mahmud
Ahmadjonova
 Chief Accountant:
Gulchehra Malikovna
Dushanbe city, Ayni
 Address:
CJSC "NBP Pakistan Street, 48
Subsidiary Bank in (+992 44) 610-44-12, 610-
Tajikistan"  Telephone:
44-15
 Fax:
 Website: www.nbp.tj

 Email: nbptj@nbp.tj
 State Bank "Tijarat", Islamic Republic of Iran

 Chairman:  Amir Kori

Azizmurodov Shokirjon
 Chief Accountant:
Hotamovich

 Address: Dushanbe city, Aven.Rudaki, 88

“Tijorat” Bank
Brunch IRI in  Telephone: (+992 44) 600-05-21, 600-05-25
Dushanbe
 Fax: (+992 37) 251-01-41

 Website:

 Email: B_T_Dushanbe@Tejarat-bank.tj
 K S !! !
TH A N