English | دری

DAB and HARAKAT team up to improve access to finance in Afghanistan

in Afghan Business

DAB and HARAKAT team up to improve access to finance in Afghanistan

DABAfghanistan’s central bank, Da Afghanistan Bank (DAB) and Harakat- Afghanistan Investment Climate Facility Organization signed an agreement on the implementation of the Shariah Compliant Project.

The Shariah Compliant Project is aimed at tackling problems of the Islamic Banking, which is seen as one of the biggest challenges facing the Afghan banking system.

DAB officials were hopeful that the project would help strengthen the banking and financial sector in the country.

As per the agreement, Harakat provided DAB with USD 1,175,600 grant fund for the implementation of the project that contributes in the following areas:

–          Development of Shariah banking regulatory framework (regulations, manuals, guidelines, accounting and reporting formats, off-site an on-site analysis policy and other necessary policies and procedures for Shariah Compliant demand driven products

–          Development of Shariah Supervisory Board (SSB) governor Structure and Shariah Products Approval Procedure

–          Development of market driven Shariah Compliant Products. The products would be offered as a new Shariah-Compliant offering by the banks.

–          Development of a visual/pictorial SMEs Access to Finance Toolkit. The toolkit will be developed in a way that is understandable by illiterate and semi illiterate entrepreneurs.

–          Increase awareness and capacity building to strengthen Islamic Banking Division’s capacity of DAB as well as Islamic Financial Institutions in Afghanistan and relevant stakeholders.



Related Articles

Mini-Pentagon worth USD 160mn rises in Afghanistan

A white marble building, known as the “mini-Pentagon”, worth USD 160mn is built in the center of capital Kabul with

Safi Airways sign codeshare agreement with Gulf Air

Gulf Air and Afghanistan’s international carrier Safi Airways has signed a codeshare agreement Kabul-Bahrain route as of April 23, Gulf

Business Center inDelhi helps find trading partners for Afghan traders

A Business Center established in New Delhi, capital city of India, works to connect Afghan traders with traders in India.

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.