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ALMATY (TCA) — Today in Central Asia several banks bearing fancy names and based in fancy offices have multiplied in places like minor-size former Soviet republics with no economic achievement to speak of — all over among local banks from Dushanbe to Baku in the former USSR’s “soft belly” stretching from the Pamir to the Caucasus. In this regard, only Kyrgyzstan and Uzbekistan have kept aloof from cash trouble up till now. Continue reading
DUSHANBE (TCA) — The parliament of Tajikistan has approved amendments criminalizing "illegal" hard-currency exchanges. Continue reading
ASTANA (TCA) — The Development Bank of Kazakhstan (DBK) said that its subsidiary has funded its first transaction on the terms of Islamic leasing in Kazakhstan. Continue reading
ALMATY (TCA) — Kazakhstan’s currency is in a very bad shape. There are various reasons for that, and although President Nazarbayev advises his citizens not to buy imported goods, people on the street feel the pinch and try to switch to dollars as much as they can. The crash in global prices of oil and other commodities has already brought Russia and Azerbaijan currencies to their lowest level losing more than 50%. Kazakhstan is not doing any better with the tenge moving, in about two years, from about 150 tenges per dollar to the incredible low level of close to 400 and the situation has much to do with the ever shifting National Bank policies. Continue reading
ALMATY (TCA) — Kazakhstan’s chief banker has said the National Bank of Kazakhstan is not planning any restrictions on operations with cash foreign currency in the country, Novosti-Kazakhstan news agency reported. Continue reading
ASHGABAT (TCA) — On January 12 the Central Bank of Turkmenistan published on its website a press release on introducing restrictions on free currency exchange in the country. The announcement for print media, however, was offered only in the Turkmen language. The press release is not available on the Russian or English versions of the website. Below is the translation of the announcement, made by the independent website Chronicles of Turkmenistan. Continue reading
