Afghan Private Banks Responsible to Respect Islamic Banking System

Officials in Afghanistan Central Bank has urged that private banks are responsible to activate Islamic banking section in Afghanistan.

They have said, “we have drafted a chapter of 46 articles on Islamic banking soon we will send it to Afghanistan parliament for further confirmation and approval.”

During a session which held by the cooperation of Afghanistan central Bank and Harakt-i- Roze NGO in Kabul, in the following session Islamic Banking experts and the Afghanistan central Bank officials have exchanged their points view on Islamic banking sectors to be activated in all private banks.

At the end of their session, they have mentioned that the article 23 in the Islamic banking law indicates that Islamic banking sections should be activated within the Private Banks across the country.

Acting Head of the Central Bank Khan Afzal Hada wal said,” we hope to draw more investments by approving Islamic Banking law in the country,he also warned those banks don’t activate Islamic banking sections within their banks according to the law it will be closed.”

He also said,” the following law to be approved and confirmed and signed in coming September 2015, he urged that most of the people in Afghanistan don’t use Banks because of its profits which is not lawful.”

General head of the Private Banking Union Ahmad Sear Quriashi said,” this is a positive step towards Private banking we welcome it,it seems that most of the Afghans are interested into Islamic banking system.”

He also mentioned that there 15 private banks are working across the country, among those 8 of them respecting Islamic banking system where 2 $ billion is being circulated in the Islamic banking section.

Reported by Nimatullah Ahmadi