Tajikistan: Fraud Uncovered at State Bank
Tajikistan’s anticorruption agency says it has uncovered an alleged embezzlement scheme at state bank Amonatbank, suggesting the crisis gripping the country’s lending sectors extends beyond just the lack of liquidity.
The deputy chairman of the Agency for State Financial Control and Combating Corruption, Davlatbek Hairzoda, said last week that the scheme has cost the government 31.6 million somoni ($4 million). Four bank employees are under investigation.
The timing is unfortunate since dwindling faith in the country’s private banks in Tajikistan has been driving many people to move their money to an institution perceived as being underpinned by state support.
Amonatbank chief executive Ruhullo Hakimzoda revealed last month that the banking crisis has compelled many state and private enterprises to move their business to his bank.
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