MoCI in talks with World Bank to resolve Afghanistan’s banking problem

Ministry of Commerce and Industry (MoCI) officials said they have started discussions with the World Bank to resolve the current banking crisis in the country.

Officials said a delegation from the Islamic Emirate of Afghanistan (IEA) is holding talks with the World Bank on the issue.

“The Economic Commission, the Ministry of Commerce and Industry and the Ministry of Finance have a special program with the World Bank and the United Nations,” said Nooruddin Azizi, Minister of Commerce and Industry.

According to Azizi, some banks add to the challenges.

“Actually, there is no limitation in banking matters, but the banks themselves cause problems,” he said.

On the other hand, the private sector has said that the problems in Afghanistan’s banking system that arose after last year’s political developments have had a negative impact on the country’s commercial and economic activities and resulted in many problems for businessmen.

According to them, the country’s economy will get a quick boost if the IEA is able to resolve the banking problems.

“Some banks do transactions, but it takes time, but the fact that the Ministry of Finance and the Ministry of Commerce intend to talk with the World Bank in order to resolve banking problems is welcome,” said Khanjan Alokozai, a member of Afghanistan Chamber of Commerce and Investment (ACCI).

Economic experts believe that investment and economic growth in the country will be impossible until Afghanistan’s banking problems are resolved