DUSHANBE, January 23, 2013, Asia-Plus  -- In connection with Tajikistan’s admission to the World Trade Organization (WTO), the number of branches of foreign banks may increase in Tajikistan, Abdujabbor Shirinov, Chairman of the National Bank of Tajikistan (NBT), announced at a news conference in Dushanbe on January 22.

According to him, Tajikistan is ready for coming of new foreign banks and opening of branches of new foreign banks will not affect the country’s banking system and activities of local banks.

“The coming of new banks will mean that that they trust our country and it will be a good experience for our banks because there will be a professional competition,” said Shirinov, “Representative offices and branches of six foreign banks now function in Tajikistan.”

142 credit organizations, including 16 banks and 299 their branches, two non-bank financial institutions and 124 microfinance organizations now function in Tajikistan, Tajik central bank head noted.

A branch of the National Bank of Pakistan (NBP) opened in Tajikistan last year.