ABA Signs MOU with BACCI
Date: November 18, 2014,
On November 18, 2014, ABA signed a Memorandum of Understanding (MOU) with British - Afghan Chamber of Commerce and Industries (BACCI) in ABA office. Three representatives from three ABA member banks (CEO of Afghan United Bank (AUB), Acting CEO of Bank-e-Milli Afghan (BMA) and Deputy CEO of Azizi Bank), President and Country Director of BACCI and ABA employees participated in the signing ceremony. Financial Access for Investing in the Development of Afghanistan (FAIDA)’s Chief of Party, Regulatory Team Leader and Loan Product Specialist also participated in the event. The agreement will be a starting point to establish bilateral business relationship with United Kingdom to encourage and promote private sector businesses in Afghanistan. During the ceremony Dr. Hotak, The president BACCI in Afghanistan, delivered detailed speech on trade and investments opportunities in Afghanistan and importance of the MOU. He mentioned that, as London is capital of business in the world, so, this agreement will be a great opportunity for initiating the steps towards making bilateral business relationship with Afghan partners. BACCI will deliver value to ABA by establishing correspondent banking relation with England banks and financial markets. The purpose of this MOU is to:
a. To promote and enhance economic relations in the field of trade, investment and financial services between Afghanistan and United Kingdom
b. To encourage cooperation and liberalize trade and investment between the two countries
c. To promote a favorable environment for private sector investment and support private sector development as a source of peace, democracy and prosperity
