Tuesday, 25, June, 2024

The second largest bank in Tajikistan opened its representative office in Tashkent. The Central Bank of Uzbekistan has accredited the representative office of Orienbank, the press service of the Central Bank said.

Reportedly, the accreditation of Orienbank on August 3 will be valid through August 2, 2025.

Before that, the representative offices of seven foreign banks opened in Uzbekistan: J.P. Morgan Chase Bank (USA), Gazprombank (RF), Commerzbank AG (Germany), Landensbank Baden-Wurttemberg (Germany), as well as Kyongnam Bank, Shinhan Bank and Korea Eximbank (all of the Republic of Korea).

The representative office of a foreign bank is established only to represent the interests of the main bank, its tasks are to find partners, conduct advertising and marketing research. The representative office of a bank, unlike the branch, does not have the right to carry out banking operations.

Alif Tek and Alif Molia owned by Alif Bank have been operating in Uzbekistan for almost three years.

In the summer of 2019, Alif Tek received the payment license of the Central Bank of Uzbekistan, for cross-border transfers, payments to entities, operations to top up balance for mobile telephones, payment for utilities, etc.

Orienbank is included in the list of systemic banks, its share in the financial market of Tajikistan is 20.06 percent (summary figure), making it the second after the state bank Amonatbank (24.64%). The bank has 32 branches and 237 service centers in Tajikistan.

Joint-stock commercial industrial-construction bank of Tajikistan, Orienbank was established in April 1991 in place of of Tajiksanoatqurilishbank. In April 2002, its name was changed to Orienbank. The chairman of the board is Hasan Asadullozada.

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