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Afghanistan Central Bank extends credit system to rural areas

in Afghan Business

Afghanistan Central Bank extends credit system to rural areas

Da Afghanistan Bank (DAB), Afghanistan’s Central Bank, has extended banks loans issuance to medium and small entrepreneurs in rural areas.

An agreement to that effect was signed between DAB and thirteen non-governmental organizations in Kabul.

Addressing the press conference, DAB deputy governor Essa Khan Turab, said the NGOs would extend the Public Credit Registry (PCR) systems to villages.

The Bank with collaboration from the World Bank launched the Collateral Registry (CR) and the Public Credit Registry systems and made it available to all commercial banks in 2014.

As per the contract, the NGOs will provide credits for bank clients, deliver information on credits and collection full information about the credit takers and record them.

According to Turab, people in rural areas would be issued loans ranging from $20,000 to $300,000 through the systems.

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