Afghanistan Banks Association works to strengthen Islamic banking in the country
Date: January 22, 2024
Islamic banking has become a global success, and Afghanistan, as an Islamic country, has a potential need for Islamic banking and finance. Thus, it is imperative to utilize this potential and contribute to the country's economy.
On January 22nd 2024, The Afghanistan Banks Association (ABA) held a virtual meeting with the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) to promote Islamic banking in Afghanistan. The meeting was attended by AAOIFI representatives, member bank officials, and ABA leadership.
ABA Executive Director, Mr. Najibullah Amiry, commended AAOIFI for their collaboration in Islamic banking and proposed that they extend greater assistance to the Afghan Islamic banking sector during the transition period. AAOIFI officials also expressed their keen readiness to collaborate.
The meeting focused on exploring the potential of Islamic banking in Afghanistan's economy, offering certifications, organizing seminars and trainings, establishing exam center for banks Etc.
It is worth mentioning that, ABA has also approached, in the past, the Islamic Development Bank (IDB) for financial support for Islamic banking in Afghanistan.
In this meeting, officials from member banks also provided input on contemporary challenges and sought assistance in this regard.
The meeting aimed to explore the potential of Islamic banking in Afghanistan's economy.