The National Bank of Tajikistan (NBT) has revoked the license of the Russian money transfer system, which is operated by the Narodny Bank (People’s Bank), according to the NBT press center.

It is to be noted that the Central Bank of Russia revoked the license for banking operations of the Joint-Stock Company (JSC) Narodny Bank on July 24, 2020.

The Narodny Bank reportedly violated federal laws regulating banking activity and legal acts of the bank of Russia in the field of combating the money laundering and the terrorism financing. 

The license for banking operations was granted to the Narodny Bank in April 1993 for the period until April 2022.   

After revocation of the license of the money transfer system “Narodnaya,” 15 operators remain on the NBT’s list of the payment system operators.