ABA Host a meeting with Afghan Financial Attaché – Kazakhstan and Tajikistan
Date: January 30, 2019
In today’s economic globalization, the businesses around the world, needs to have business relations for finding new untapped market, maximization of profit and growth.
Correspondent Banking Relationship, as means of connection with international banks and source of revenue for Afghan banking sector, has remained one of the main priorities for ABA. To enrich corresponding banking relationship of our banking sector, ABA hosted a meeting of commercial Attaché - Kazakhstan Mr. Ahmad Zia Sayedkhaili and H.E. Mr. Dr. Faizuddin Ghiasi Commercial Attaché -Tajikistan on January 30, 2019 at ABA.
Mr. Najibullah Amiri Executive Director ABA commenced the meeting by welcoming remarks. He stated that, ABA is here to support the banking sector and played significant roles towards economic and banking growth. He also highlighted the challenges faced by banking sector.
Later on, Mr. SayedKhaili added: “Afghanistan – Kazakhstan trade volume is around one Billion USD, where it consist of 980 million USD import and around 20 million USD export. Due to lack of corresponding banking relations, large portion of the remittances taken place through informal financial system. There is need for creation of correspondent banking relationship to support Afghanistan banks-economy and avoid frauds/losses of Afghan traders which they face in informal remittances process.
Mr. Dr. Ghiasi further stated that: “The volume of trade transaction between Afghanistan and Tajikistan is around 50 million USD. There is no correspondent banking relationship between Tajikistan and Afghanistan. ABA support for building such relationship is instrumental. Mr. Ghiasi further added that, during coming month, International Universal Exhibition- Fair will be held in Tajikistan, where there is opportunity for the banking sector of Afghanistan to interact/establish business relation with Tajikistan banks. He requested ABA to encourage banks to take part.
Mr. Amiri on behalf of ABA, showed his supports for every initiatives strengthening Afghanistan Banking Sector.
There are many alternative mentioned for the banking sector to form the business relations.
a) Opening corresponding account in the targeted countries
b) If feasible, establishing a branch of interested Afghan bank by purchasing property in the targeted country – Kazakhstan and Tajikistan.
c) Establish relationship of Afghan banks through joint venture
At conclusion, both – Financial Attaché and ABA- agreed to continue with such meetings. A presentation on growth and opportunities will be shared with ABA. Kazakhstan and Tajikistan attachés will be joining the meeting through video conference call. Where the concerned officials of the banks may also attend.
