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Kabul to launch credit registry system to manage loans

in Afghan Business

Kabul to launch credit registry system to manage loans

loansAn online public credit registry system is being established in Kabul city to manage loans and facilitate transactions.

Funded by the World Bank, the project is being implemented by the Da Afghanistan Bank (DAB) at a total cost of USD 2.5mn.

Deputy Chief of DAB said the system would enable financial organizations to have accurate information about their credits through an online system.

Made to record and analyze credit information, the new system would also be made available to non-financial organizations such as telecom companies, insurance offices, judicial organs and small enterprises.

Nisar Ahmad Yousafzai, Head of the public credit registry, called on all the commercial banks to use the system to effectively manage loans and improve banking system.

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