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Tajik president appoints new chairman of national bank

Tajikistan Materials 4 May 2015 18:39
Tajikistan’s President Emomali Rahmon replaced the chairman of the country’s national bank, appointing the 55-year-old Jamshed Nurmuhammadzode to the position.
Tajik president appoints new chairman of national bank

Tajikistan's President Emomali Rahmon replaced the chairman of the country's national bank, appointing the 55-year-old Jamshed Nurmuhammadzode to the position, TASS reported citing the Tajik government May 4.

Nurmuhammadzode earlier headed the savings bank of Tajikistan.

On his new position Nurmuhammadzode replaced Abdujabbor Shirinov, who has headed the national bank since February 2012.

Jamoliddin Nuraliyev was appointed one of the deputies of the national bank's chairman.

Experts point out that the change in the bank's leadership is due to the difficult situation on the currency market in Tajikistan and the continuing fall of the national currency, the somoni.

According to the recent data, over the past two months the somoni fell against the US dollar over 10 percent and now the rate is 6.52 somoni to $1.

Unpopular actions by the bank's former management to tighten control over the exchange offices and the partial closure of private exchange offices caused a general discontent in society and didn't lead to stabilization of the national currency.

Edited by CN

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