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Strengthening ties: Pakistan, Tajikistan establish banking links

07 June, 2011

KARACHI: Pakistan and Tajikistan have established banking links through a Nostro account and a Pakistani bank will provide microfinance and mobile banking facilities in Tajikistan.

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KARACHI: Pakistan and Tajikistan have established banking links through a Nostro account and a Pakistani bank will provide microfinance and mobile banking facilities in Tajikistan.

Talking to Our Sources on his return from Tajikistan where he had gone with a trade delegation, Honorary Consul General of Tajikistan in Karachi and KASB Bank Director Irshad Qasim said that links between KASB Bank and TAJ Prom Bank of Tajikistan have been built through a Nostro account – foreign currency account opened by a bank in another bank – in a German bank about 45 days ago.

The German bank will provide coordination facilities between these two banks and traders of the two countries will be able to conduct business transactions between them.

Qasim said that KASB also intends to set up a microfinance or a commercial bank in Tajikistan and discussions with the foreign ministry of Tajikistan had already been completed.

He said that a bank of Tajikistan had also offered shareholding to KASB Bank, however, KASB was considering setting up a microfinance bank and providing mobile banking facility.

He said that the microfinance sector of Tajikistan offers high returns and the default ratio is almost non-existent, adding that five private banks are active while three microfinance banks are working successfully there.

A proposal of issuing visas from Tajikistan’s consulate in Karachi is also being considered.

He said that there was no barrier to air links between the two countries and landing charges for air traffic in Tajikistan were in accordance with the rates charged across the world, which is $5,000.

He said that this included $2,500 landing charges and $2,500 takeoff charges, adding that a proposal to fly two commercial flights from Karachi and Lahore to Dushanbe will be reviewed in a meeting with PIA authorities.

End.


 
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