A unique service of the PO “Zamonat”

PO “Zamonat” is the only local organization for issuing guarantees on the territory of the Republic of Tajikistan, which promotes the development of employment among women, youth, people with disabilities and returning migrants. A guarantee is issued to the specified categories of persons with limited access to collateral when obtaining bank loans for opening or developing a business.

PO “Zamonat” was registered with the Ministry of Justice of the Republic of Tajikistan on April 16, 2019. The organization has a portfolio for the issuance of a guarantee in the amount of 3.0 million somoni.

The founders of the organization are business consultants.

PO “Zamonat” has partnership agreements with two commercial banks (Bank “Arvand” and MDO “Finka”), jointly organize the process of providing guarantees to MSMEs.

Mechanism of providing guarantees and achievements:

When receiving MSME loans from partner banks, the PO “Zamonat” covers up to 30% of the amount of loans received by guarantee. For the provision of services, the organization receives 2% commission.

In a short period of time, the PO “Zamonat” has achieved great success in the field of issuing guarantees among MSME representatives: The total number of issued sureties is 1139;

The total amount of bank loans received by MSMEs was – 11 336 510.00 somoni;

The total amount of issued guarantees was 3 352 828.00 somoni;

Expected amounts of coverage for non-performing loans and risks 20,000.00 somoni;

Gender component: women – 466 people, men – 673 people.


The activities of the PO “Zamonat” contribute to the development of the financial sector, which includes the possibility of reducing credit risks, using a new financial instrument for vulnerable segments of the population of women, young people, startups and other representatives of MSMEs.  

The activities of the PO “Zamonat” are specifically aimed at supporting small and medium-sized businesses in the regions of the country with limited access to loans, which, in turn, can contribute to the development of the business climate and economic recovery in Tajikistan.

We expect that with the help of a tool like a guarantee, there is an opportunity to involve the population of the country in mass entrepreneurship, which will have a positive effect on improving the welfare of the population and developing its financial capabilities in the country.

Currently, the PO “Zamonat” intends to scale up its activities to support MSMEs.  In our opinion, scaling up our activities will have a positive shift in other regions, reaching even more people for the development of entrepreneurship.  We intend to cover new regions geographically, to increase the number of partner banks.

To achieve this goal, the organization is looking for new sources of financing to increase its portfolio with the involvement of other social investors and international donors, as the organization’s activities have shown a great need for guarantees among the participants of the MSME and the financial sector of the country.