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World Bank’s IFC to acquire equity stake in Afghanistan International Bank

The International Finance Corporation (IFC), a member of the World Bank, is looking to invest in the Afghanistan International Bank (AIB) with an aim to help the Afghan bank boost its commercial lending and financial inclusion. Afghanistan’s per capita income

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Afghanistan will be removed from banking gray list in a month

Da Afghanistan Bank (DAB), Afghanistan’s national bank, has announced that Afghanistan will be taken off the gray list of the Financial Action Task Force (FATF) in a month after meeting all the requirements. Afghanistan’s removal from the gray list will

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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

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MoU signed between Bank-i-Mili Afghan and Afghan Industrialists Association

Bank-i-Milli Afghan (BMA) has agreed to grant USD 100mn in Islamic loans and USD 100mn in ordinary loans to Afghan industrialists. A Memorandum of Understanding (MoU) was signed between the Bank and the Head of the Afghanistan Industrialists Association, Abdul

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$ 437mn recovered of $987mn stolen from Kabul Bank

The Afghan government is still in the process of recovering the millions of dollars that disappeared from Kabul in mysterious insider loans. Legal advisor to the President, Abdul Ali Mohammadi, said on Sunday $437mn of the total $987mn stolen from

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Pakistani Bank interested in buying New Kabul Bank

A delegation from the Muslim Commercial Bank of Pakistan is visiting Kabul to explore the option of buying the New Kabul Bank. According to Tolo News, the Pakistani Bank is interested in buying the New Kabul Bank from the Afghan

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Afghanistan, IMF discuss privatization of New Kabul Bank

Afghan Finance Ministry and the International Monetary Fund (IMF) are holding discussions over the privatization of the loss-making New Kabul Bank. This comes after the Afghan government failed to find a suitable buyer for the bank. In December of last

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International transactions still an issue for Afghan private banks

Afghan private banks are still facing problems with transferring money from abroad to Afghanistan despite the approval of the Anti-Money Laundering and Financing Terrorism Prevention Laws. A number of foreign banks have reportedly refused to transfer money into Afghanistan through

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President Karzai declares support for Afghan banks

President Hamid Karzai conferred on the challenges facing the Afghan banks at a meeting attended by concerned ministers, chairman of the Central Bank and heads of the private banks. The meeting came after China announced halting financial transactions with Afghan

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Afghan Lower House to vote on Anti-Money Laundering Law next week

The Afghan Lower House committees will vote on the Anti-Money Laundering and Financing Terrorism Prevention Laws next Wednesday. After approval from the Lower House, the Laws would be submitted to the Senate to decide whether or not to send it

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Afghan law against money laundering submitted to Parliament for approval

The Afghan Ministry of Justice has submitted the new anti-money laundering law to the Parliament for approval. According to Acting Ministry of Justice Mohammad Yousuf Halim, the new law is in accordance with the standards required by the Financial Action

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Afghanistan close to be blacklisted by the Financial Action Task Force (FATF)

Afghanistan was threatened by the Financial Action Task Force (FATF) earlier this year for failing to pass key measures on combating money laundering. The threat by FATF, an international body that sets standards on how countries combat money laundering, is

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

Da 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

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

Da 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

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DAB branch gets new building in Jalalabad

A new building for Da Afghan Bank (DAB) branch in Jalalabad, capital of eastern Nangarhar province, was inaugurated on Wednesday. Costing USD 3,685,141, the four-story building is equipped with all the required facilities including a kindergarten, a mosque, a car

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An Afghan female employee steals USD 1 million from Azizi Bank and escapes

An Afghan female employee transferred USD 1.1mn from Azizi Bank and has left Afghanistan. According to reports, the employee has transferred the amount to a relative’s bank account outside of Afghanistan and has escaped from the country together with her

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German Commerce Bank to close dollar accounts with Afghanistan

Facilitating Afghanistan’s banking transactions in the last 11 years, German Commerce Bank has decided to close down all its internal dollar accounts with Afghanistan. One of the reasons cited for this decision is the lack of programs preventing money laundering

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First High Economic Council Meeting Held

The first meeting of the High Economic Council meeting was hosted by President Hamid Karzai on Wednesday. President Karzai set up a High Economic Council, led up by the president himself, to boost the country’s economy. Members include the Ministers

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3% of Afghans enjoy banking services

A roundtable was held in Kabul on Wednesday to discuss increasing access to credit and reforming the banking system. Hameedullah Noor Ebad, President of the National Center for Policy Research at Kabul University, shed light on the importance of the

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Kabul Bank new CEO not cooperating with investigation

The CEO of the new Kabul Bank, Masoud Khan Mosa Ghazi, is alleged by Kabul Bank’s Special Tribunal’s Director for not cooperating with the investigation of Kabul Bank’s scandal. Director Shamur Rahman Shams said he had sent a delegation to

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