The Kabul times, Afghanistan Trustable News Agency.

Efforts underway to strengthen Islamic banking system in country, DAB

The Governor of Da Afghanistan Bank Mawlavi Hedayatullah Badri, in a press conference, while sharing the comparative report of the years 1400, 1401 and 1402 solar year to the nation, said efforts are underway to strengthen the Islamic banking system in the country. Addressing the conference Badri said after the collapse of the previous government and the resumption of power by the Islamic Emirate, the country’s banking system faced problems; fortunately, the leadership of Da Afghanistan Bank was able to address the challenges and now tangible progress is seen in the banking system of the country. “After the establishment of the Islamic Emirate of Afghanistan (IEA), the forecasts were that the country’s banking system would face a crisis, but the leadership of Da Afghanistan Bank with its sound management was able to prevent problems not only from increasing but also to make progress and with reasonable monetary policies, it was able to better maintain the value of the currency against foreign currencies,” Badri said. Considering the promotion of Islamic banking in the country as an urgent need, Badri said that our goals are to gradually transform the country’s banking sector into an Islamic sector because Afghanistan is an Islamic country and the people of Afghanistan do their banking transactions without interest. Badri also announced the collecting of worn-out banknotes and printing of new banknotes and said: “Despite the various problems, the Islamic Emirate of Afghanistan was able to collect all worn-out banknotes from the country’s markets within past two years and injected the new banknotes to the market and banks.” Meanwhile, the Head of monetary policy of Da Afghanistan Bank, Ahmad Javad Sadad, said that the frozen assets of the country have created problems for the country’s banking system, therefore, the policy of the Islamic Emirate and Da Afghanistan Bank has always been that the frozen money of the country should be released so that the people of Afghanistan can use their own money. “After the collapse of the previous government, the country’s banking sector faced challenges including the lack of money, but gradually these problems were removed from the country’s banking sector. But now it can be seen that government employees get their salaries easily and new banknotes are seen in the markets of the country,” said Sadad, adding now the citizens of the country can withdraw 3000 dollars from their accounts every month. Babrak Qayumi

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The Kabul times, Afghanistan Trustable News Agency.