KABUL: Presided over by the First Deputy Prime Minister of the Islamic Emirate of Afghanistan (IEA) the economic commission held meeting on Sunday, discussed some important issues to make decisions for strengthening private banks.
1. The Supreme Court of the Islamic Emirate of Afghanistan should establish a special court in order to quickly resolve the cases related to the loans of the public and private banks of Afghanistan.
2. Afghan courts should start issuing, property documents in accordance to sharia.
3. Da Afghanistan Bank should present a mechanism for Islamic loans to the Economic Commission.
4. Until all the documents related to Islamic banking are completed under the supervision of the Academy of Sciences, all public and private banks of Afghanistan will start the process of offering Islamic loans (Mudaraba, Murabahah, Salam, etc.) after the permission of the Sharia Board of Da Afghanistan Bank, in the light of Islamic Sharia.
5. The Ministry of Foreign Affairs should work and try to open bank accounts in neighboring and regional countries by Afghan banks.
6. The share of private banks in the implementation of government guarantees, tariffs and salaries of government employees should be increased.
7. Da Afghanistan Bank should speed up the process of finalizing the administrative work of the bank by offering small loans and other financial institutions that have taken all the necessary measures to start operating in the light of Islamic Sharia.
8. Da Afghanistan Bank should give deposits to private banks with the help of the Ministry of Finance.
9. State and private banks and other related institutions should use the experiences of Islamic countries in order to promote Islamic banking in Afghanistan.
10. The Ministry of Finance should identify all major infrastructure projects, that implemented and require a small amount of funds for its completion and submit a report to the Economic Commission.
11. Under the leadership of the Ministry of Finance, the commission for receiving hard-to-get loans from banks has been reactivated and to take the necessary measures to receive hard-to-get loans from public and private banks.
12. All construction projects in Afghanistan should be allowed to start if there are no legal and Shariah obstacles.
The Kabul Times
Key points discussed in economic meeting to strengthen private banks
