Afghanistan Banks Association

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

Afghanistan Banks Association

The international community is committed to supporting Afghan private sector

Date: May 01, 2024

The International Finance Corporation (IFC) and Harakat organized the private sector strengthening and support conference in Kabul on May 01, 2024. In the said conference, representatives from Afghan business community, including Chambers of Commerce and Investment, Chamber of Industries& Mine, Chamber of agriculture/other chambers, associations, commercial banks, Afghanistan Banks Association, Afghanistan Microfinance Association and international organizations ‘Kabul offices such as the International Finance Corporation - World Bank, UNDP, UNAMA/Others participated.
In the conference, IFC Director virtually announced his support for the private sector, especially the financial and banking sector, and added that in order to coordinate with different key players within the private sector and address challenges, a Secretariat has been established under Harakat organization. The Secretariat will coordinate with different organization and shall work to address challenges in cooperation with international donors, the government and related institutions.
Subsequently, Mr. Najibullah Amiri, ABA Executive Director talked on behalf of the banking industry by highlighting below issues.
Afghan banking sector is moving towards improvement and the deposits as well as assets of the banks have grown compared to the previous year. With thousands of professionals, at difficult time, the banking sector provided banking services to more than 4 million customers through 400 branches across the country. Billions of dollars have been transferred abroad for import and export, that resulted accommodation/abundance of logistics and basic necessary items/foods, fuel, medicine etc. The goods and services and the abundance of subsistence and basic materials have had significant effects on livelihood of our people.
Also, banks executed billions of dollars remittances through Western Union/other international money transfer from overall the world that played a useful role in improving the livelihood of Afghan individuals/businesses. Banks are now ready to cooperate with businessmen in the field of Islamic financing, money transfers and various other banking services throughout the country. We urge intentional community to support the banking sector in terms of correspondent banking relationships, financial and technical assistance and capacity building.
Subsequently, different sectors of trade, industry, etc., in their turn, presented their problems and suggestions to the international community and demanded real cooperation for fundamental sector of the economy.
IFC, Harakat and other international organizations promised that they will take practical steps to address obstacles within the private sector.
At the end, Harakat requested all the relevant institutions and the government to cooperate with Harakat to achieve this lofty goal.