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Private banking sector sees significant growth, says DAB
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.
Pakistan on Friday summoned Afghan Deputy Head of Mission in Islamabad to convey “strong demarche” over a deadly attack on a military camp in North Waziristan District that killed four Pakistani soldiers.
In a statement, Pakistan’s Ministry of Foreign Affairs said the attack was carried out by a faction of Tehreek-i-Taliban Pakistan (TTP).
The statement said that Pakistan conveyed “grave concern over the continued support and facilitation” provided by the Islamic Emirate to TTP.
Pakistan has demanded “a full investigation and decisive action against the perpetrators and facilitators of the terrorist attacks launched against Pakistan from Afghan soil.”
It urged the Islamic Emirate “to take immediate, concrete and verifiable measures against all terror groups operating from its territory, including their leadership, and deny the continued use of Afghan soil for terrorism against Pakistan.
According to the statement, the Islamic Emirate has been “categorically informed that Pakistan reserves the right to defend its sovereignty and protect its citizens, and will take all necessary measures to respond to terrorism originating from Afghan soil.”
Pakistani officials have repeatedly claimed that attacks in the country are originated from Afghan soil, a charge the Islamic Emirate denies.
President of Uzbekistan Shavkat Mirziyoyev has underscored Afghanistan’s continued importance in regional cooperation, saying the country remains one of the key areas of interaction among regional partners.
Addressing the first summit of the “Central Asia Plus Japan” dialogue, Mirziyoyev said participating countries share a common aspiration to see Afghanistan become peaceful, stable, and oriented toward meaningful development.
The Uzbek president praised Japan’s longstanding and consistent support for Afghanistan, noting that Tokyo has for many years been among the leading donors and partners assisting the Afghan people.
He expressed confidence that coordinated efforts and joint contributions by regional countries and Japan would help improve living standards in Afghanistan, advance socio-economic and infrastructure development, and facilitate the country’s active involvement in regional economic projects.
The Embassy of Japan in Afghanistan announced on Friday that the country has allocated $19.5 million in humanitarian assistance to Afghanistan.
In a statement, the Japanese Embassy said it hopes the aid will help bring positive change to the lives of vulnerable Afghans.
According to the statement, the assistance will cover the basic humanitarian needs of vulnerable communities in Afghanistan.
The embassy added that the aid will be delivered through United Nations agencies, international organizations, and Japanese non-governmental organizations operating in Afghanistan.
Japan’s total assistance to Afghanistan since August 2021 has reached more than $549 million.
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