Afghanistan’s Banking, Financial System Will Be ‘Fully Islamic’: DAB

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Afghanistan’s Banking, Financial System Will Be 'Fully Islamic': DAB

KABUL: The head of Da Afghanistan Bank (DAB) in the annual conference called “Accounting and Auditing Organization for Islamic Financial Institutions & Islamic Development Bank” said that Da Afghanistan Bank has decided to make Afghanistan’s banking and financial system “fully Islamic.”

Hedayatullah Badri, the spokesman of DAB added that currently all the interest transactions are prohibited in the country.

Hasibullah Noori, said: “The head of Da Afghanistan Bank in this conference added that this bank has decided to make all of Afghanistan’s banking and financial system fully Islamic.”

The head of DAB  on the sidelines of this conference met with a number of international financial institutions, the chairmen of the central banks of Islamic countries, diplomats, and the Turkish ambassador in Bahrain, and he has also emphasized cooperation in the Islamic Banking sector.

Zabihullah Mujahid, the spokesman of the Islamic Emirate, said that they will facilitate the banking sector of the country. 

“The position of the Islamic Emirate of Afghanistan in terms of banking is high because there is complete transparency, the value of the afghani is preserved, and there is a good and transparent monetary policy in Afghanistan, which we did not witness in previous years. This change has been mentioned there and attention has been paid to it and the provision of facilities in Afghanistan will facilitate banking issues,” Zabihullah Mujahid said.

The Afghanistan Chamber of Industries and Mines (ACIM) emphasized that the international community should also remove the restrictions imposed on the banking sector.

“There is a need to establish more relations with the international banks of Islamic countries so that at least the banking problems and obstacles that Afghanistan has with the world can be reduced at least, so that the transfer process of our trade with all countries through banks can be facilitated,” said Sakhi Ahmad Paiman, deputy head of the ACIM.

Earlier, the ACIM said that the banking restrictions imposed by the international community in the last two years have made large investments practically impossible to start in Afghanistan.