Tag "Afghanistan banking"
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Islamic Bank of Afghanistan to open as country’s first fully-fledged Islamic Bank
The Islamic Bank of Afghanistan (IBA), previously known as Bakhtar Bank, is granted the license to operate as the country’s first bank to fully comply with Islamic banking laws. The central bank of Afghanistan, Da Afghanistan Bank (DAB), approved the
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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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Does Afghanistan really want entrepreneurs?
by Akbar Borran Afghanistan has targeted a transformation period between 2015 to 2024 to achieve self-sufficiency. The economy is heavily dependent on development aid and economy of war. This is not sustainable and can shrink or collapse at any time.
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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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Launch of the Afghan National Payment Switch: opening the gate to the global financial network
Afghanistan Payments Systems (APS) in close coordination with Da Afghanistan Bank (DAB) are launching a shared and Interoperable Card/Mobile Payment Switch in Afghanistan. Afghanistan Payments Systems is the only ‘Payment Service Operator’ acting as the national provider of secure financial
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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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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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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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Afghan banks required to establish links with US banks soon
The Afghan financial institutions are urged to establish links with a US bank to allow for an interrupted dollar transfer. This comes as the German Commerce Bank has announced to close its dollar accounts with Afghanistan within two months, if
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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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USD 50mn of Kabul Bank loans to be recovered in a fortnight
Da Afghanistan Bank (DAB), central bank of Afghanistan, announced Wednesday that Kabul Bank loans worth USD 50mn would be recovered in the next two weeks through the auction of defaulters’ property. Kabul Bank, Afghanistan’s first private bank, was on the
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Only one bidder of the scandal-hit Kabul Bank steps forward
Three domestic and two international groups were approved through the Expression of Interest stage for the purchase of New Kabul Bank shares, but only one stepped forward to bid. The bidders approved included, Ali akbar Zhawandai Consortium, Forbes and Manhattan,
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IMF, Afghanistan agree path to fresh aid
The IMF said Monday it had reached agreement with Afghanistan on the reform path needed to unlock the next aid installment for the war-ravaged country. The International Monetary Fund granted Afghanistan a $133.6 million line of credit in November 2011
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Banking Sector in Afghanistan-its growth and importance
Afghanistan’s Central Bank, Da Afghanistan Bank-DAB, is one of the leading and government recognized banks of Afghanistan, which was established in 1939. DAB regulates all the banking and money handling operations in Afghanistan. Addressing the 3rd Annual Countrywide Investment-CWI in
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First court session on Kabul Bank’s case ends inconclusive
The first public hearing of Kabul Bank’s case was held in Kabul on Wednesday. After 16 months of negotiations and controversies over the case of Kabul Bank, its first public hearing ended without a result. The court officials say they
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Kabul Bank properties to be sold in Dubai soon- Noorullah Delawari
Officials of Da Afghanistan Bank (DAB), Afghanistan’s Central Bank, say that the properties of Kabul Bank will be put out for sales in the next three weeks in Dubai city as per the orders of President Hamid Karzai. “A delegation,
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New Kabul Bank bidding process set in motion
As per the decision of the Cabinet on privatizing Kabul Bank, Afghanistan’s central bank in collaboration with the Ministry of Finance set in motion the bidding process for the New Kabul Bank. Both Afghan and foreign investors will take part
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Hundreds of million dollars of loans returned to the Kabul Bank
Kabul Bank officials reported that USD 186mn of loans has been returned to Kabul Bank in the form of cash and property. Undocumented loans worth USD 980mn were give out two years ago which led to the downfall of the
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