DUSHANBE, January 25, Asia-Plus  -- Amonatbonk (Tajikistan’s savings bank) plans to introduce electronic payment system by the end of this year, Mahmadamin Mahmadaminov, chairman of the Amonabonk board, remarked art a news conference in Dushanbe on January 24.  

According to him, they are currently conducting negotiations with Russia’s Ural bank and Citibank on introduction of a system of payments with using plastic cards.  

Hundreds of electronic payment systems have been developed to provide secure Internet transactions. Electronic payment systems are generally classified into four categories: credit card and debit cards; electronic cash; micropayment systems; and session-level protocols for secure communications.

The Amonatbonk head noted that they are also currently negotiating with the Ministry of Labor and Social Protection the possibility of paying pensions and other social allowances by electronic money. 

In 2007, 280.6 million somonis of pensions were paid through Amonatbonk and its branches in the provinces.   

Mr. Mahmadaminov noted that Amonatbonk’s net profit last year amounted to 7.6 million somonis (equivalent to more than $2.2 million), which is 25.2 percent more than in 2006.  

Founded in 1925, Amonatbonk has five regional, 69 city and district branches as well as 499 agencies.