Working in the banking market for more than twenty years, Closed Joint-Stock Company “Kafolatbonk” has established itself as a stable and reliable partner, always meeting the wishes of clients, partners and exhibiting its financial policy in the interests of the latter.
The main client policy of the Bank and the most important task of the client service development are to satisfy customers’ needs for banking services, to provide legal and physical persons with a full sector of both traditional and new financial products and services. The Bank seeks to create partnerships with clients, applying an individual approach to each client, taking into account the peculiarities of its business, developing and implementing personal schemes of interaction with customers.
Targeted work to improve banking services has become the basis for a significant increase in the Bank’s customer base. By the end of 2016, the client base of the bank increased by 50%.
Long-term work in the banking market has shown that the most demanded are settlement and cash services, lending, money transfers, servicing of foreign economic transactions and other banking operations. The Bank is constantly expanding the range of commercial offers for individuals, offering its clients flexible conditions for attracting deposits and the most profitable products. Credits bank deposits (deposits), money transfers, rent of individual bank safes, purchase and sale of foreign currency is a far from complete list of the Bank’s sought-after services among individual customers.
One of the main indicators of the Bank’s reliability is its own capital. In 2012, the Bank’s equity increased by 61% and by 01.12.2012 it was more by
50 532 000 somoni. Assets have maintained a stable growth dynamics, having increased by 50% over the year to 56.6 million somoni. In the structure of assets, the fast growing interest-bearing assets grew with interest income, the growth of which was 100% for the year, most of them were small business loans-65%.
The key direction of the Bank’s activity in 2016 was to continue lending to the Bank’s customers, both legal entities and individuals. The bank plans to expand its lending to small businesses in the Khatlon region and the DRS next year. By the end of 2016, the total volume of the Bank’s loan portfolio amounted to more than 30 000 000 somoni. The largest share is taken by loans issued to private individuals.
When the Bank implements the credit policy, special attention is paid to the issues of assessing the creditworthiness of borrowers, their reputation, and the quality and adequacy of collateral.
The Bank offers its customers a full range of financial services including a standard loan, a consumer loan, and credit lines.
In 2009, the Sarmoya Bank of the Islamic Republic of Iran became a shareholder of the Bank. The bank was established with the participation of foreign capital in the person of Sarmoya Bank (Capital).
An important line of the Bank’s activities related to comprehensive customer service in 2016 was the implementation of guarantee operations for the obligations of customers. In 2016, the total volume of issued bank guarantees amounted to 2 232 285 somoni. The use of the Bank’s guarantee instruments is economically justified for customers in relation to traditional borrowing and allows them to significantly reduce costs while ensuring their own obligations to third parties, as well as to increase funds in the economic turnover of the enterprise. By increasing the flexibility of lending conditions, expanding the product range, taking into account the client’s individual needs, it is planned to increase the competitiveness of the Bank’s credit products and ensure the availability of loans for the maximum number of solvent borrowers.
One of the main tasks of the Bank is to raise funds from the population. The increase of the balances on settlement and current accounts of the customers is to say that the Bank continued to optimize the client base in 2016. The growth of attracted deposits from the population in 2016 was 10%. In total, deposits amounting to more than 20 million somoni were attracted. The growth of the bank’s loan portfolio is directly related to increase of the term deposits and internal resources. In 2016, the bank concluded an agreement with Uralsib Bank on plastic operations, which makes it possible to offer its customers bank cards of all categories: for various clients – VISA Gold, VISA Classic, VISA Electron, Maestro Card, VISA Biasness, Maestro Gold are available. One of the priority areas for the development of the Bank’s plastic business is attracting customers to the implementation of payroll projects. Salary projects allow the company to reduce the administrative and time costs of issuing wages, minimize the risks associated with the transportation of large amounts, and also give employees the opportunity to use bank cards as a modern reliable means of payment. As of December 2011, the Bank installed 2 ATMs.
In 2016, the Bank began to expand its network piles to the most promising area of ​​Dushanbe, the Firdavsi district. The branch began operating in late June 2011 and two Banking Service Centers in the Sino district of Dushanbe.
Taking into account the interest of the population in such a banking service as money transfers in foreign currency, the Bank continued active cooperation with the well-known international money transfer system Golden Crown and Contact in the reported year.
In connection with this, the volume of issuing money transfers has increased without opening current foreign currency accounts.
One of the activities of CJSC “Kafolatbank” in the reporting year was further continuation and strengthening of cooperation with correspondent banks.
As a result, the Bank managed to create favorable conditions for the settlement of customers and their own operations. A high level of efficiency and reliability of international payments is provided by the S.W.I.F.T. system.
Last year the main correspondent banks of the Bank abroad were: URALSIB OJSC, (Russia) Promsvyazbank OJSC (Russia), Sarmoy Bank (IRI). The correspondent network created by the Bank helps clients to provide a wide range of services in the field of international payments, to choose optimal payment routes, speed up the operation. In virtue of clear cooperation with correspondent banks, favorable conditions were created for making settlements for the Bank’s customers, no matter in which currency they were conducted.
In 2016, JSC “Kafolatbank” confirmed the status of one of the leading operators of the currency and money market in the region.

The Bank plans to further pursue an active policy aimed at strengthening its market position, further building its financial capacity, expanding the client base and the volume of the operation in all areas of banking. To achieve this goal, the Bank has identified the following development trends for 2016:

  • activation of work on attracting new and increasing efficiency of cooperation with regular customers (further development of the practice of flexible tariff plans, the system of personal managers);
  • expansion of its own deposit program for individuals;
  • expanding the product range and increasing its competitive advantages, building an effective system of selling banking services;
  • for example, a deposit and a credit card, a salary card loan, a safe deposit box and a credit card for customers traveling on a trip;
  • conducting an advertising campaign to promote the Bank on the market;
  • completion of the work on the creation of an integrated system for analyzing and planning the activities of the Bank and its divisions, which envisaged the automation of
  • monitoring and control over the state of assets and liabilities, incomes and expenses, including means for analysis, assessment and control of risks;
  • opening by foreign banks for CJSC “Kafolatbank” of credit limits for the implementation of trade operations;


The main task of the Bank in the area of ​​lending will be to increase the volume of the loan portfolio on the basis of minimizing and diversifying credit risks. The Bank will continue to lend to all major groups of customers: individuals, legal entities and credit and financial institutions, traditionally giving priority to customers who have a positive credit history, as well as being on full settlement and cash services.
Our specialists pay special attention to these areas, constantly improving the quality of services developing new competitive tariffs and banking client products. Expanding, the Bank is actively demanding young professionals; priority is given to students of specialized banking specialties. The main goal of personnel policy is to improve its quality through the qualitative development of personnel. Permanent work aimed at improving the skills and professional development of employees, allows you to ensure the implementation of tactical and strategic objectives.
The use of modern banking technologies, the professionalism and unity of the team of managers and specialists, the combination of flexibility and healthy conservatism in management will ensure the stability and successful development of the Bank.
Advantages of working in our bank
Having merged into the slender and strong ranks of CJSC “Kafolatbonk” you get the following unique advantages:
• Work in the Bank, which enjoys a deservedly high reputation
• Possibility of fruitful communication with a team of highly qualified specialists.
• Getting unique professional experience
• Prospects for career growth
• Attractive pay and incentives for employees
• Participation in various ongoing training programs
• Participation in the work of the trade union committee of the bank
• Interesting corporate events

Competitive selection system
The bank is interested in single-minded candidates wishing to work in a team of like-minded, enterprising and responsible people who are able to create and implement new ideas that are striving for permanent self-improvement.
To identify them, the bank uses a competitive selection system, which implies:
• Open announcement of internal and external competitions for vacant positions
• Selection of candidates on the basis of interviews, psychological and professional testing
• Interviewing by the competitive commission
• Mandatory communication of the results of the competition to candidates
In daily work, bank employees are guided by the principles of openness and honesty, respecting business and professional ethics.
The bank’s management places high demands on the education, qualification and personal qualities of its specialists. Especially encouraged their desire for professional and creative growth, development of new banking technologies, initiative and enterprise.
The Bank constantly conducts training for its employees, with the aim of improving existing skills and acquiring new ones.
With the purpose of forming a qualitative personnel reserve in the bank, the Internship Program for Young Specialists and Graduates of Higher Educational Institutions operates.
Currently, the bank is actively expanding the range of services provided to customers. Within the framework of this process, prospects for career growth of employees are opened. The initiative, professionalism and leadership are an organic part of the career in the bank.