Central Asian state Tajikistan gets first Islamic bank

The central Asian nation of Tajikistan has opened its first full-fledged Islamic bank.

OJSC Tawhidbank opened in September and is licensed under the central bank, the National Bank of Tajikistan, it said in a statement on September 20.

Tawhidbank has its roots in conventional mid-sized bank Sohibkorbank, which was set up in 1999.

It currently has five branches and 48 banking services throughout the former Soviet bloc nation.

Tajikistan currently has seventeen banks, including Tawhidbank, according to data from the central bank.

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