Central Bank Spokesman: Islamic Banking Has Expanded
Da Afghanistan Bank told on International Day of Banks that in the past year significant achievements have been made in various areas of banking, and that Islamic banking has also expanded in the country.
Da Afghanistan Bank also said that bank officials in the country have taken important steps in various areas of banking and service delivery, with an increase in public deposits in banks and the establishment of bank branches in different parts of the country.
Haseebullah Noori, the spokesperson of Da Afghanistan Bank, told : “The Islamic banking sector has expanded. Now, all transactions in commercial banks are conducted without interest and are carried out based on Islamic laws and Sharia. Additionally, there have been advancements in electronic banking.”
This is while challenges such as financial and banking restrictions imposed by the US and its allies against the Islamic Emirate remain in place.
A number of analysts say that Afghanistan has experienced various phases of banking, and in the past three years, global financial and banking restrictions against the Islamic Emirate have left banking operations semi-functional.
“One of our biggest challenges, unfortunately, is rooted in political interactions against Afghanistan, which initially paralyzed Afghanistan’s banking system and now has made it semi-functional,” said Sayed Masood, an economic analyst.
“Banks can play a vital role in the country’s economy and can support Afghanistan’s economic growth, particularly in increasing gross domestic product,” said Seyar Quraishi, another economic analyst.
It has been more than three years since the Islamic Emirate resumed power in Afghanistan. Officials have consistently emphasized that the caretaker government’s primary approach is an economy-focused policy based on Afghanistan’s interests and those of the global community.
December 4 coincides with International Day of Banks, which is celebrated annually worldwide to honor the provision of banking services to the public.
