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Afghanistan central bank dismisses SIGAR's report regarding possible banking crisis

in Afghan Business

Afghanistan central bank dismisses SIGAR's report regarding possible banking crisis

delawariDa Afghanistan Bank (DAB), Afghanistan’ central bank, rejects reports by the Special Inspector General for Afghanistan Reconstruction (SIGAR) that has warned of a possible banking crisis to loom.

According to the report, DAB lacks the required ability to regulate commercial banks, which may result in another banking crisis similar to the near collapse of Kabul Bank.

DAB Chief Noorullah Delwari assured that that there were no signs of a new banking crisis and slammed SIGAR for not coordinating with the central bank while preparing the report.

DAB is responsible for controlling license issuance and oversight of commercial banks activities to ensure compliance with the Afghan banking rules and regulations.

Concerns from the international community regarding DAB’s capacity came in 2010 when Kabul Bank was on the verge of collapse. SIGAR then began its audit of DAB in 2010.

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