Da Afghanistan Bank (DAB) announced on Saturday that there has been a significant improvement in the financial and economic condition of the country’s private banks.

According to officials at DAB, the country’s central bank, over the past year, the assets of the country’s private banks have increased by 15 billion afghanis, and in addition to a 71 percent rise in financial resources compared to the previous year, bank guarantees worth nearly 22 billion afghanis have also been issued.

They added that a total of 12 banks are currently operating in the country: three are state-owned, two are representative offices of foreign banks, and the remaining seven are privately owned.

“Over the past year, bank guarantees worth nearly 22 billion afghanis have been issued. We are striving to bring significant progress to the banking sector so that it aligns with international standards. Over the past year, we have also succeeded in reducing banking restrictions,” Hasibullah Noori, spokesperson for DAB.

Meanwhile, some private sector members, while recognizing improvements in banking services, have urged the central bank to intensify its efforts in expanding the banking sector and promoting electronic banking to ensure greater speed and transparency.

“The condition of Afghanistan’s private banks has improved compared to three years ago. Banking services are now available to people across the country, and this process continues to expand,” said Zabihullah Nazari, a member of the Chamber of Industries and Mines.

However, some economic analysts, while acknowledging the importance of the banking sector’s activities in the country, have noted that Afghanistan’s private banks still face challenges in dealing with customers in certain areas. They have called for increased oversight of private banks’ operations.

Officials from the central bank emphasized that they provide organized services to private banks across the country and are working to deliver standardized financial and banking services to the nation’s citizens.