X
X

Tajikistan: Business Rival of President’s Son-in-Law Neutralized

The owner of a leading chain of gas filling stations in Tajikistan is reportedly facing criminal prosecution, thereby clearing the path for a commercial rival who happens to be the son-in-law of President Emomali Rahmon.

Things started looking grim for Radjabali Odinayev, founder of gas retailer Umed-88, on October 14, when Rahmon singled him out for criticism during a meeting with local businessman.

Rahmon grumbled that Umed-88 had some years ago been been granted a 170 million somoni loan ($19.3 million at the current rate) at 18 percent interest with facilitation from the Finance Ministry, but that the company had failed to pay the money back. That interest rate is considered relatively preferential compared to what is offered by Tajik banks.

“Sixty million somoni of this money [Odinayev] owes have gone to paying off debts to Tojiksodirotbank, and 25 million has gone to Amonatbank. The rest he just spent for his own needs. He should answer before the law. Government money is the money of the people,” Rahmon said.

To read the full story

Tajikistan: Business Rival of President’s Son-in-Law Neutralized

1 / 1
X
> <