DUSHANBE, January 15, 2016, Asia-Plus – Three microlending agencies have reportedly been merged into one microlending agency.

According to the National Bank of Tajikistan (NBT), limited liability companies Vorukh, Rushdi Obshoron and Mehnatobod have merged into one microlending agency.

The Tajik central bank press center reports the NBT board satisfied an application by the Vorukh and Rushdi Obshoron microlending agencies for merging with the Mehnatobod microlending agency on January 12.

In this connection, the NBT recalled licenses of the Vorukh and Rushdi Obshoron microlending agency.

We will recall that the NBT stopped operations of twelve microlending agencies last year (five microlending were closed in October and seven others were closed in November), decreasing a total number of microlending agencies operating in the country to 31.

These microlending organizations reportedly failed to comply with the NBT’s minimum capital requirements for the microlending organizations.

Meanwhile, consolidation of the Vorukh, Rushdi Obshoron and Mehnatobod microlending agencies decreases the total number of microlending agencies functioning in Tajikistan to 29.

According to Tajik central bank, 129 lending organizations, including 17 banks, one non-bank credit institution, 41 microloan deposit organizations, 29 microlending organizations and 39 microloan funds now operate in Tajikistan.