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Afghanistan Cancels Operating License of Iran’s Arian Bank

(Last Updated On: May 20, 2019)

Afghanistan’s Central Bank canceled the license of the Arian Bank, an Iranian bank based in the capital Kabul with a branch in Herat province.

According to the officials, Arian Bank has failed to meet Afghan financial regulations and had no role in Afghanistan’s economic development.

“Arian Bank is registered with the name of an Afghan but an Iranian national owns the bank. The High Council of Afghanistan’s Central Bank canceled its license due to several reasons,” said Aimal Ashur, Spokesman of Central Bank of Afghanistan.

He added that the bank’s denial to provide any loans to Afghan entrepreneurs was the main reason behind the cancellation of its license. The bank is also accused of money laundering.

Around two months ago, Afghanistan canceled the operating license of Pakistan’s Habib Bank, citing non-compliance of the bank with the banking laws of Afghanistan.

Meanwhile, Afghanistan’s Chamber of Commerce and Industries (ACCI) calls on the government to cancel the operating license of all banks that have no role in the economic development of Afghanistan.

“This bank had no financial transaction with the people and businessmen. It had no role in the trade and economy of Afghanistan,” said Nezamuddin Tajzada, the ACCI Deputy.

Arian Bank was established in Afghanistan in 2004 and received a commercial banking license from the Central Bank.

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