Afghanistan Banks Association

د افغانستان د بانکونو ټولنه
Afghanistan Banks Association
Voice of The Banks

Afghanistan Banks Association

ABA Participates in SIBOS-BOSTON, 2014

Date: September 29-October 02, 2014

Afghanistan Banks Association (ABA) participated in the annual SWIFT International Bank Operations Seminar (“SIBOS”) at the Boston Convention and Exhibition Center in Boston, Massachusetts, USA. The event was held from September 29 through October 02, 2014. At SIBOS, financial institutions, financial services providers, and other financial sector-related organizations from around the world displayed the services they offer, and “networked” among one-and-other. ABA was particularly keen to network with money-centr banks, and to demonstrate to those banks the safety and viability of the Afghan banking sector. . ABA’s participation in SIBOS was made possible by financial support from GIZ’s New Market Development Program. Two representatives of ABA and six ABA member participated.

More than 100 representatives from various banks, financial institutions and financial services providers from different countries visited the ABA booth to discuss business relations with ABA and its member banks. As per the available reports from ABA member banks, they conducted more than 100 fruitful meetings with various banks, and ABA- member unanimously concluded that their participation in SIBOS improved the image of the banking sector in Afghanistan.

Regarding correspondent banking relations, ABA member banks reported significant progress, and they all anticipate related follow-up.

ABA, for its part, was active in exploring correspondent banking relations. Indeed, because of ABA’s participation in SIBOS, many of the strong US and European banks were able to understand the Afghan market more deeply. Ultimately, this will help to restore and establish correspondent and other relations with ABA member banks.
On the fourth day of SIBOS, SWIFT held a plenary session wherein speakers from SWIFT encouraged global collaboration in the financial sector, and insisted that financial institutions should remain vigilant, as global economic and financial conditions are rapidly changing with more regulations in banking sector. Mr. Bill Gates, Co-Chair of the Bill and Malinda Gates Foundation, discussed that Foundation’s plans in microfinance. He added that the Foundation is actively working in microfinance to alleviate poverty and encourage economic growth in least developed countries.

At the end of the session, Mr. Ahmad Javed Wafa, ABA’s Director of Economic Research, gave a brief interview on ABA’s participation in SIBOS to the SIBOS daily press.