Tajikistan, officially the Republic of Tajikistan, is a landlocked country in Central Asia. Dushanbe is the capital and most populous city. Tajikistan is bordered by Afghanistan to the south, Uzbekistan to the west, Kyrgyzstan to the north, and China to the east. It is separated from Pakistan by Afghanistan's Wakhan Corridor.
The economy of Tajikistan is dependent upon agriculture and services. Since independence, Tajikistan has gradually followed the path of transition economy, reforming its economic policies. With foreign revenue precariously dependent upon exports of cotton and aluminium, the economy is highly vulnerable to external shocks. Tajikistan's economy also incorporates a massive black market, primarily focused on the drug trade with Afghanistan. Heroin trafficking in Tajikistan is estimated to be equivalent to 30-50% of national GDP as of 2012.
Microcredit is the extension of very small loans (microloans) to impoverished borrowers who typically lack collateral, steady employment, and a verifiable credit history. It is designed to support entrepreneurship and alleviate poverty. Many recipients are illiterate, and therefore unable to complete paperwork required to get conventional loans. As of 2009 an estimated 74 million people held microloans that totaled US$38 billion. Grameen Bank reports that repayment success rates are between 95 and 98 percent. The first economist who had invented the idea of micro loans was Jonathan Swift I the 1720’s Microcredit is part of microfinance, which provides a wider range of financial services, especially savings accounts, to the poor. Modern microcredit is generally considered to have originated with the Grameen Bank founded in Bangladesh in 1983. Many traditional banks subsequently introduced microcredit despite initial misgivings. The United Nations declared 2005 the International Year of Microcredit. As of 2012, microcredit is widely used in developing countries and is presented as having "enormous potential as a tool for poverty alleviation." Microcredit is a tool that can possibly be helpful to reduce feminization of poverty in developing countries.
A credit union is a member-owned nonprofit cooperative financial institution. They may offer financial services equivalent to those of commercial banks, such as share accounts, share draft accounts, credit cards, credit, share term certificates, and online banking. Normally, only a member of a credit union may deposit or borrow money. In several African countries, credit unions are commonly referred to as SACCOs.
Microfinance is a of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings and checking accounts; microinsurance; and payment systems, among other services. Microfinance services are designed to reach excluded customers, usually poorer population segments, possibly socially marginalized, or geographically more isolated, and to help them become self-sufficient. ID Ghana is an example of a microfinance institution.
Spitamen Bank is a bank operating nationwide in Tajikistan under license from National Bank of Tajikistan.
Emomali Rahmon (Tajik: Эмомали Раҳмон, ; born Emomali Sharipovich Rahmonov, Tajik: Эмомалӣ Шарипович Раҳмонов, romanized: Emomalí Šaripovič Rahmonov; ; October 5, 1952, is a Tajik politician who has been serving as The 3rd President of Tajikistan since 16 November 1994. Previously he was the Chairman of the Supreme Assembly of Tajikistan, as the de facto head of state from 20 November 1992 to 16 November 1994. Since 18 March 1998, he has also served as the leader of the People's Democratic Party of Tajikistan, which dominates the Parliament of Tajikistan. On 30 September 1999, he was elected vice-president of the UN General Assembly for a one-year term.
Grameen Bank is a microfinance specialized community development bank founded in Bangladesh. It makes small loans to the impoverished without requiring collateral.
Deposit insurance or deposit protection is a measure implemented in many countries to protect bank depositors, in full or in part, from losses caused by a bank's inability to pay its debts when due. Deposit insurance systems are one component of a financial system safety net that promotes financial stability.
Alterna Savings and Credit Union Limited, commonly called Alterna Savings, is a credit union based in Ottawa, Ontario, Canada. In addition to its credit union branches in Ontario, it also operates across Canada through its direct banking subsidiary Alterna Bank.
A micro-enterprise is generally defined as a small business employing nine people or fewer, and having a balance sheet or turnover less than a certain amount. The terms microenterprise and microbusiness have the same meaning, though traditionally when referring to a small business financed by microcredit the term microenterprise is often used. Similarly, when referring to a small, usually legal business that is not financed by microcredit, the term microbusiness is often used. Internationally, most microenterprises are family businesses employing one or two persons. Most microenterprise owners are primarily interested in earning a living to support themselves and their families. They only grow the business when something in their lives changes and they need to generate a larger income. According to information found on the Census.gov website, microenterprises make up 95% of the 28 million US companies tracked by the census.
Cooperative banking is retail and commercial banking organized on a cooperative basis. Cooperative banking institutions take deposits and lend money in most parts of the world.
The Association for Social Advancement is a non-governmental organisation based in Bangladesh which provides microcredit financing.
The National Bank of Tajikistan is the central bank of Tajikistan.
Village banking is a microcredit methodology whereby financial services are administered locally rather than centralized in a formal bank. Village banking has its roots in ancient cultures and was most recently adopted for use by micro-finance institutions (MFIs) as a way to control costs. Early MFI village banking methods were innovated by Grameen Bank and then later developed by groups such as FINCA International founder John Hatch. Among US-based non-profit agencies there are at least 31 microfinance institutions (MFIs) that have collectively created over 800 village banking programs in at least 90 countries. And in many of these countries there are host-country MFIs—sometimes dozens—that are village banking practitioners as well.
Financial inclusion is the availability and equality of opportunities to access financial services. It refers to a process by which individuals and businesses can access appropriate, affordable, and timely financial products and services which include banking, loan, equity, and insurance products. It is a path to enhance inclusiveness in economic growth by enabling the unbanked population to access the means for savings, investment, and insurance towards improving household income and reducing income inequality
Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 of India, engaged in the business of loans and advances, acquisition of shares, stock, bonds, hire-purchase insurance business or chit-fund business, but does not include any institution whose principal business is that of agriculture, industrial activity, purchase or sale of any goods or providing any services and sale/purchase/construction of immovable property.
Equity Bank Uganda Limited (EBUL), is a commercial bank in Uganda. It is licensed by the Bank of Uganda, the central bank and national banking regulator. EBUL is a subsidiary of Equity Group Holdings Limited, a financial service conglomerate with headquarters in Kenya and subsidiaries in six countries of the African Great Lakes Region.
Postal Savings Bank of China Co., Ltd. also known as PSBC is a commercial retail bank founded in 2007 and headquartered in Beijing. It provides basic financial services, especially to small and medium enterprises, rural and low income customers. As of 31 December 2017, PSBC has 39,798 branches covering all regions of China. IPSBC was ranked #27 in Forbes Global 2000 in 2023.
Tajikistan did not join in the World Bank until 1993. Before the collapse of USSR in 1991, Tajikistan was experiencing planned economy which was dominated by Moscow. Right after the dissolution, different from other nations which experienced a relatively stable transition from planned economy to market economy, Tajikistan fell into a serious civil war. As a result, the first mission after Tajikistan became the official member of the World Bank, was to recover its economy from bullets and blood. In 1997. $10 million credit was grant for Post-Conflict Rehabilitation Project. The proposed credit was used to conduct necessary imports and to restore production. Under different time periods, the World Bank and Tajikistan worked together in response to various problems. Later on, the economic crisis of 2008 caused the inflation of food prices in Tajikistan. In response to the crisis, the World Bank issued $6.25 million for the Emergency Food Security and Seed Imports Project in order to help at least 28000 households to release the food price pressure. Coming into the 21st century, Tajikistan received financing from IDA and IBRD of the World Bank with respect to programs of healthcare, education, irrigation and agriculture. Over the past years, Tajikistan has received over 130 projects of which 17 are active and a total of over $1.4 billion from the World Bank. With the help of those projects, from 2000 to 2017, the poverty rate in Tajikistan had been decreased from 83% to 29.5%. Besides, current GDP growth rate in Tajikistan is around 7%. Nevertheless, with a stable GDP growth rate, Tajikistan is still one of the poorest countries in Central Asia.
