DAB plans gradual switch to Islamic banking

KABUL (Pajhwok): The deputy head of Da Afghanistan Bank (DAB) and president of the Afghanistan-US Chamber of Commerce have discussed cooperation on strengthening the banking system and trade.

DAB wrote on X its deputy chief Sediqullah Khalid met Jeff Greco, the president of the Afghanistan-US Chamber of Commerce, at his office on Saturday.

The two sides talked about cooperation on strengthening the private sector of Afghanistan, trade and the banking system, as well as other issues of mutual interest.

Khalid said the private and banking sectors played a crucial role in the development of country’s economy and DAB would not spare any effort in this regard.

He promised measures to curb money laundering, control financial crimes, mechanise the money exchange regime, rein in inflation under rules of the central bank and international laws.

Over the past three years, he claimed, the central bank had succeeded in reviving the banking system and stabilising the afghani.

Khalid affirmed DAB’s commitment to the gradual conversion of the current conventional banking system into Islamic banking.

Greco said the world was watching the positive changes and improvements in economic and banking systems of Afghanistan.

Hailing DAB efforts for strengthening the afghani and economic management, Greco said the central bank must continue its campaign for further enhancing the banking sector.

aw/mud