Afghanistan Bank Deposits Reach Nearly $3 Billion

The Afghanistan Banks Association has reported an increase in public deposits in banks over the past year.

According to the association’s figures, public deposits in the country’s banks have now reached nearly $3 billion.

Najibullah Amiri, head of the Afghanistan Banks Association, said the increase in deposits reflects growing public confidence in the country’s banking system.

Najibullah Amiri said: “There were rumors about banks collapsing, but fortunately, today the situation is the opposite, and public confidence in the country’s banking sector is increasing. Standard services similar to those in other countries are being provided to our citizens, and efforts are underway to improve them further.”

Meanwhile, Afghanistan’s central bank has also said efforts are underway to improve banking services in the country.

The central bank’s spokesman said the bank continuously monitors banking services and urged citizens to use the banking system to safeguard their money and conduct financial transactions.

Hasibullah Noori, spokesman for the central bank, said: “Da Afghanistan Bank regularly holds meetings with commercial banks and asks them to provide better banking services to citizens. We have made good progress and introduced facilities in this sector, and we also ask citizens to cooperate in this regard.”

However, private-sector representatives and investors say that providing standard services, simplifying banking procedures, and creating more investment opportunities are essential to increasing public confidence in banks.

They are calling on banks to make their services simpler, faster and less costly for customers.

Omid Haidari, head of international relations at the Chamber of Agriculture and Livestock, said: “Banks should expand their services for customers and provide easier conditions for online payments. Monthly fees on bank accounts are high, and this issue needs attention.”

According to the Afghanistan Banks Association, 12 private banks and the central bank are currently operating across the country.

The increase in bank deposits comes as Afghanistan’s banking system has faced challenges in recent years, including financial restrictions, reduced economic activity and low public confidence.