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Da Afghanistan Bank Announces Plans for Full Islamic Banking System

AT Kabul: In a recent annual conference, the head of Da Afghanistan Bank (DAB) declared the decision to transform Afghanistan’s banking and financial system into a fully Islamic framework. Hedayatullah Badri, DAB’s spokesperson, noted that all interest transactions are currently prohibited in the country.

Hasibullah Noori reported that the head of DAB, in discussions with international financial institutions, central bank chairmen of Islamic countries, diplomats, and the Turkish ambassador in Bahrain, emphasized collaboration within the Islamic Banking sector.

Zabihullah Mujahid, spokesperson for the Islamic Emirate, affirmed their commitment to facilitating the banking sector in the country. He highlighted the transparency, preservation of the afghani’s value, and the implementation of a clear and transparent monetary policy as factors contributing to the high standing of the Islamic Emirate in banking.

The Afghanistan Chamber of Industries and Mines (ACIM) stressed the importance of removing international restrictions on the banking sector. Sakhi Ahmad Paiman, deputy head of the ACIM, called for increased relations with international banks in Islamic countries to alleviate banking issues and facilitate trade transactions.

Earlier, the ACIM had expressed concerns that banking restrictions imposed by the international community over the past two years had practically hindered significant investments in Afghanistan.

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